United States President Donald Trump Defended The Reciprocal Tariffs Implemented European Union, and Asserted that tariffs are the only solution to these trade imbalances.
Criticizing the trade surplus with these nations under the previous joe biden administration, trump vowed to reverse it swiftly, expressing his belief that tariffs waliffs wLDFT “We have Massive Financial Deficits With China, The European Union, and Many Others. The only way this problem can be cured is with tariffs, which are not bringing tens of bills of bills of dolls. They are alredy in effect, and a beautiful thing to behld, “Trump said in a post on social media platform truth Social on Sunday (Local Time).
“The Surplus with these countries has grown during” presidency “of sleepy joe biden. Of america, are a very beautiful thing!, “He Further Stated.
According to the office of the united States Trade REPRESTITIVE, Us Total Goods Trade With China was an Estimated UsD 582.4 Billion in 2024. Us Goods Exports to China In 2024 WERE UsD 143.5 Billion, Down 2.9 per cent (USD 4.2 billion) from 2023. Us Goods Imports from China in 2024 totled usD 438.9 billion, UP 2.8 per cent (USD 12.1 Billion) from 2023.
The us Goods Trade Deficit With China Was UsD 295.4 Billion in 2024, A 5.8 per cent Increase (USD 16.3 billion) over 2023, as per the office of the united states trade representative.
On the other hand, us total goods trade with the eu was an estimated usd 975.9 billion in 2024. Us Goods Exports to the Eu in 2024 was usd 370.2 Billion, UP 0.7 per cent (usd 2.6 billion) from 2023. Us Goods imports from the eu totled usD 605.8 billion in 2024, up 5.1 per cent (USD 29.4 billion) from 2023. The us Goods Trade Deficit With The Eu Was UsD 235.6 Billion in 2024, A (USD 26.9 Billion) Over 2023.
On April 2, The US President Announced a Widespread Imposition of Tarifs on Countries Worldwide. In February, Soon after taking charge for the second time, trump outlined a new trade policy focused on Fairness and Reciprocity and Said That that Us Today Implement Reciprocal Tarifs, CHARGINGING OTHERFS Countries the same tarifs they impose on American goods.
According to the announcments made by trump, the important tariffs Cent), India (26 per cent), The United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and israel (17 per cent).
From April 9 Onwards, Countries with the Larget Trade Deficits with the Us will face higher, individualized tarifs. India is one of the country affected, with a 26 per cent tariff imposed on all its expenses.
(With agency inputs)