Washington: US President Donald Trump pledged to reduce tariffs for countries that open their markets to American products.
In a post on Truth Social Wednesday, Trump wrote he will always waive tariffs if he can get major countries to open their markets to the United States of America.
He emphasized that it had been impossible to persuade countries to open their markets without using the great power of tariffs, adding that he will reduce tariffs only if countries open their markets. If they don’t, he will impose more tariffs.
On Apr. 2, Trump signed an executive order imposing reciprocal tariffs on most countries worldwide, stating that tariff levels would vary by country. On Apr. 9, he suspended most tariffs for 90 days, excluding China, the US’s second-largest trading partner.
According to recent reports, Trump has since announced trade deals with Japan, the Philippines, and Indonesia. Japan will face a 15% tariff under a new agreement, while the Philippines and Indonesia will be subject to 19% tariffs.
