Washington:
US President Donald Trump dedicated on Wednesday to announcing “mutual rates” in other countries and said that he could sign an order for them within a day, a movement that could open new fronts in a trade war.
During the election campaign, Trump had promised: “An eye for an eye, a rate for a rate, the same exactly amount.”
Analysts expect mutual tasks that the rates of US input include the obstacle to American input that the exporting countries will charge American products.
Trump spoke on Wednesday in the Oval Office that he could sign an order for mutual tasks later in the day or on Thursday morning.
Analysts have warned that such taxes could bring a broad rate increase for emerging market economies such as India and Thailand.
Earlier on Wednesday, Pers Secretary of the White House told Karoline Leavitt Reporters that she believed that Trump's tariff plan could be announced before he met Indian Prime Minister Narendra Modi on Thursday.
Since he took office on January 20, Trump has unveiled initiative on American trading partners.
On Wednesday, a White House official told AFP that Trump's planned rates of 25 percent for all steel and aluminum imports will stack on top of the hefty tasks that he has previously announced on Canada and Mexico.
At the beginning of February, Trump had unveiled complicated rates of 25 percent in Canadian and Mexican goods, with a lower percentage of 10 percent on importing Canadian energy.
But shortly after making that announcement, he stopped the general levies on the direct neighbors of the United States for a month because both countries promised to take measures against illegal immigration and fentanyl smuggling.
If those rates are re -imposed at the end of a deadline of 30 days, the levies on Canadian and Mexican steel and aluminum can touch 50 percent, the civil servant said, speaking of anonymity.
Canada's Finance Minister Dominic Leblanc, who is in Washington with Canadian provincial leaders, told reporters on Wednesday that Ottawa would not stay for the decision of America on the rates.
“We have a few weeks to work together, and President Trump's words were very accurate to structure an economic deal with Canada,” said Leblanc, who meets American policy makers, including the national economic council director Kevin Hassett and the candidate from the trade secretary Howard Lutnick.
WAB Kinew, Prime Minister of Manitoba in West -Canada, added that his country has critical minerals who can help the American economy.
Mexican President Claudia Sheinbaum separately added that Minister of Economy Marcelo Ebrard is in conversation with his expected American counterpart.
While the conversations between the North -American trading partners continued, Trump signed individual orders to impose 25 percent rates on steel and aluminum imports from 12 March.
(Except for the headline, this story was not edited by DailyExpertNews staff and has been published from a syndicated feed.)
