Higher US Tariffs Create Effect on Dozens of Economies and Country
Last Thursday the The United States of America started imposing higher tariffs on more than 90 countries around the world which have an impact on the U.S. economy too.
The white house informs that Tariffs of 10% or more have begun to be imposed on products From the European union and more than 60 countries. The United States also confirmed that countries like Japan and South Korea have imposed 15 % tariffs and Vietnam and Bangladesh have imposed 20 % tariffs on products.
It is also being said that India has imposed a 25% and it may be increased by more later. This came to light recently when India bought oil from Russia.
Meanwhile Mexico has increased its tariffs to 25% in the space of 90 days. And China still faces the risk of a 30% tariff on their product.
Meanwhile, swiss president Karin Keller-Sutter met with Washington higher officers and tried to free 39% Tariffs over his country.
Since this announcement, various governments around the world have been trying to figure out how to free up or reduce border tax because this puts many investors at risk of losing their jobs or frustrate investors.
But US president MR.Donald Trump is still standing on his tariffs over dozens of countries and he said that he believes it will have a major impact on their economies.