Big Move by Trump: Medicine Imports to Face Tariff, China Hit with 104% Duty

Washington (The Uttam Hindu): US President Donald Trump, often called the 'Tariff King', has taken another big step. After imposing reciprocal tariffs on more than 180 countries across the world on April 2, Trump has now announced that soon duties will be imposed on imports of medicines as well.

Speaking at an event of the National Republican Congressional Committee on Tuesday, President Trump explained that the purpose of this new tariff on drugs is to encourage pharmaceutical companies to set up their production in America itself.

Meanwhile, new rates of previously announced tariffs on goods coming to America from various countries have come into effect from midnight on Tuesday. The Trump administration has further hardened its stance against China and increased the tariff on Chinese goods from 54% to 104%.

China responded to this move by announcing a 34% tariff on US goods, which angered President Trump. On Tuesday, Trump also accused China of manipulating the value of its currency to reduce the impact of US tariffs. He said, "You have to answer to them. They are manipulating their currency to reduce the impact of tariffs."

The Trump administration has also imposed a 26% tariff on goods coming from India. According to the administration, negotiations are going on with about 70 countries on trade related issues and efforts are being made to make a special trade agreement (custom-made deal) with each country according to its circumstances.

On Monday, President Trump spoke to Japanese Prime Minister Shigeru Ishiba over the phone on trade and other issues and also met with Israeli Prime Minister Benjamin Netanyahu. In addition, he also discussed with South Korea's acting President Han Duck-soo. The US administration is unhappy that China chose the path of imposing retaliatory tariffs instead of negotiating, while according to President Trump, he is always available for talks.