Monday, March 31, 2025 - President of the United States of America, Donald Trump is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday.
The Trump’s administration is reportedly considering
possibilities after promising to remake the American economy with a slew of new
levies.
The Wall Street Journal cited unnamed people familiar with
the discussions as saying that one key point of debate is whether to impose
individualized tariff rates for US trading partners.
Trump had recently hinted this move in recent weeks and also
the option of sticking to his campaign promise of an across-the-board tariff
that would affect nearly every country doing business with the US.
WSJ reports that Trump’s advisers have considered imposing
global tariffs of up to 20% that would hit virtually all US trading partners.
The American leader is also considering implementing a
series of new industry-specific tariffs that could hit crucial minerals and
products containing them.
Tariffs are customs duties levied on certain merchandise
imports or a category of products.
Governments impose tariffs to help local producers and
manufacturers be more competitive in the market, among other things.
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