Trump will impose tariff on pharma sector as well, Indian drugmakers could face impact
Donald Trump Tariffs: US President Donald Trump's policies have created an uproar in the whole world. People all over the world are criticizing him and calling it a wrong decision. But on Tuesday, Trump gave a befitting reply to his critics. Trump said at the Republican dinner in Washington, 'I know what I am doing.' Not only this, but pharma companies were also saved from Trump's tariff till now. Trump is preparing to give them a shock as well.
Trump will impose tariff on pharma sector as well
He said that now he is going to impose heavy taxes on pharmaceutical companies as well. White House press secretary Caroline Levitt said that a total of 104% tariff will be imposed on every item coming from China, including 84% tax and the already imposed 34% tax.
Trump has told his team to negotiate and deal with those leaders who are ready for negotiations. At the same time, China has said in response to the tariff that we will fight till the end.
Decline in Indian stock market
Indian stock market slipped again on Wednesday after a small recovery on Tuesday. Trump's 26% tariff came into effect from today, which increased global trade tensions and shook the market. On the other hand, the wait for RBI's decision on interest rates and economic assistance is also heating up the atmosphere.
There will be tariffs against the Chinese army
Donald Trump has imposed a 104% tariff on goods coming from China, which can increase trade war and military tension. Trump says that China is spending the money earned from America on the army. He says that we will not let this happen
Japanese company will build a plant in America
Japan's big auto company Nissan has taken a shocking decision. According to Al Jazeera's report, the company is thinking of shifting one of its production factories from Japan to America. This step is being taken in response to Trump's strict tariffs. America is a big market for Japanese cars, but Trump's 25 percent tariff and 24 percent 'reciprocal' tariff can break the back of the Japanese auto industry.
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The International Trade Center says that Japan may suffer a loss of $ 17 billion due to these tariffs. These new taxes, starting from Wednesday, will be imposed on 60 countries. Trump gives new blow to China
Summary
US President Donald Trump has imposed tax on cheap packages coming from China. According to a CNBC report, Trump signed an order that tripled the tariff on low-priced packages arriving in the US by international mail. Earlier, from May 2, there was a 30% or $25 (whichever is higher) tax on packages worth less than $800. Now it has increased to 90% or $75 and will reach $150 after June 1.
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