Trump Suspends Import Duties for 90 Days on Most Nations, No Relief for China

New Delhi (The Uttam Hindu): US President Donald Trump made an important announcement on Wednesday and decided to postpone the import duty (tariff) imposed on most countries of the world for 90 days. However, China has not been included in this relief. Trump has increased the tariff on China from 104% to 125% with immediate effect.

President Trump said that more than 75 countries cooperated with the US on trade issues and did not adopt a confrontational approach, so they have been given this relief. During this period, a limited 'reciprocal tariff' will remain in force, the rate of which will be 10%. Keeping China out of tariff relief, Trump said, "China did not respect the world market, so it became necessary to take strict steps. China is smart, they want to make a deal but they do not know how to do it."

Recently, Trump was under pressure from Republican leaders and business organizations to give relief in tariffs so that the fear of global recession and trade war can be reduced. It is said that this decision was taken after the fall in the US bond market and the warning of the Finance Ministry. Treasury Secretary Scott Besant apprised Trump of the seriousness of the situation, after which this decision came to light.