US President Donald Trump announced on his Truth Social platform that he will be implementing reciprocal tariffs today, ahead of his meeting with Prime Minister Narendra Modi. However, he did not disclose the specifics of his most recent tariff plan or the target of it.
He wrote, “Three great weeks, perhaps the best-ever, but today is the big one: Reciprocal tariffs. Make America Great Again!!!!.”
Trump has imposed tariffs on a number of nations, including China, since the beginning of his second term on January 20. This has caused financial markets in a number of nations, including India, to collapse and threatened a worldwide trade war.
In addition to escalating concerns about a trade war, Donald Trump’s tariffs have raised the possibility of higher US inflation.
In addition to imposing 10% tariffs on Chinese goods and a 30-day freeze on taxes on goods from neighboring Canada and Mexico, Trump said that all imports of steel and aluminum will be subject to tariffs starting March 12.
On an official visit, PM Modi arrived in the US today and will meet with Donald Trump at the White House.
At 4 p.m. (1900 GMT), he is expected to visit the White House.
Additionally, he will speak at a joint press conference with Trump.
Elon Musk and Modi will meet
The tech mogul Elon Musk, who leads Trump’s efficiency department, which seeks to reduce federal spending on government operations by simplifying bureaucracy, will also meet with PM Modi one-on-one.
PM Modi enjoys a good rapport with Trump whom he calls a “friend”.
PM Modi’s government reduced levies on luxury motorcycles and gave tariff discounts weeks prior to the trip.
As part of Trump’s immigration reform, India last week also welcomed a US military plane that was transporting 100 undocumented migrants.
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