Countdown to 'tariff bomb' begins, Trump - America has been the piggy bank of the world

Trump is promising that his new trade policies will save America from being 'looted' and will lead the country to a 'golden age'. On Tuesday, the White House clarified that these new tariffs would come into effect immediately after President Trump's announcement.

The purpose of this tariff is to combat those 'unfair trade policies' which have harmed American workers and industries.

US President Donald Trump today wrote in a post on his social media platform Truth Social, 'It's Liberation Day in America'. He is going to announce the tariff with his cabinet members in the Rose Garden of the White House at 4:00 pm US time (1:30 pm Indian time).

Trump will announce tariffs today

Trump is promising that his new trade policies will save America from being 'looted' and will lead the country to a 'golden age'. On Tuesday, the White House clarified that these new tariffs would come into effect immediately after President Trump's announcement. The purpose of this tariff is to combat those 'unfair trade policies' that have harmed American workers and industries.

Also Read: Waqf Amendment Bill: Everyone will have to accept Parliament's law,' says Amit Shah

'America had been the piggy bank of the world for a long time'

Trump said in a press conference, 'America had been the piggy bank of the world for a long time. Today, we are taking back control. This is our Liberation Day - the day of freedom from unfair trade agreements, heavy duties imposed on American goods, and policies that harm our businesses and workers.

Trump's announcement will affect many countries

This move of the Trump administration will affect major trading partners like China, European Union, India, Japan, Mexico and Canada. After the announcement of these tariffs, there has been a stir in the global markets and many countries have indicated possible retaliation. This has increased the fear of a new global trade war.

Also Read: Waqf Bill tabled in Parliament, government gave these 5 'assurances' to Muslims