Donald Trump: Donald Trump started tariffs on several countries as soon as he took over as US President and started a trade war in the world. He has announced a tariff not only on China, Mexico and Canada but also on India. However, on the other hand, in response to Trump’s tariff, other countries, including China, have also retaliated and announced a tariff on the US.
Donald Trump’s tariff is also strongly opposed in the US and everyone is criticizing it from political circles to big personalities. Warren Buffett, one of the American investor and the world’s top billionaires, called Trump’s tariff a kind of war. In such a situation, America is getting shocks one after the other. Let us know about it…
1. Dollar fall in dollar
The US dollar has been steadily increasing for some time, but the US dollar has also begun to fall in the midst of Trump’s tariff war. On the last trading day on 5 March, the dollar index fell to 105.7 against the world’s six major currencies. Experts believe that the counter -tariffs declared by many countries have had an impact on the slow economy and Trump’s tariff. The US dollar has fallen by about one and a half percent last week.
2. Fear of inflation in American markets
While India and China are announcing the imposition of mutual tariffs on other countries including Mexico and Canada, Donald Trump is calling it a decision to increase domestic production and promote employment. On the other hand, the US stock market is reacting to this and has been a decline trend for the last few days.
If the reports are to be believed, the country’s markets have become concerned about the impact of tariff war on American development as well as the possibility of inflation.
3. Reduction in crude oil
The price of crude oil has declined a major decline. Internationally, the price of Brent crude has fallen to $ 70.85 per barrel, while the price of WTI crude has fallen to $ 67.74 per barrel. However, there are many reasons behind this fall in crude oil prices and American tariff is one of them.
According to reports, OPEC+ is planning to increase its production in April 2025 and US President Trump himself asked OPEC+ to increase the production of crude oil a few days ago. Meanwhile, in response to American tariffs on Canada, Mexico and China, the US has also been announced to impose tariffs. The impact of trade war and the possibility of business affecting business due to uncertainty in the markets are also being felt on crude oil prices.
4. China, Mexico, Canada’s retaliation
As part of the US tariff policy, Donald Trump first targeted China, Mexico and Canada and put tariffs on them. The US imposed a 25% tariff on US imports from Canada and Mexico, which came into effect from March 4, while Chinese goods were also imposed 20% tariffs. In response, when Canada announced that it would impose 25% tariffs on American goods, Mexico also announced its decision on Sunday.
China also announced an additional charge of 10 to 15% on US imports, which will be effective from March 10. Not only this, China has also imposed export-income ban on 25 American companies.
5. The tariff imposed by the US will not have any effect on India.
Addressing the US Congress on Wednesday, Trump also targeted India and said that India imposes 100 percent tariff on us. This is not right at all. Announcing the tariff war, Trump said that the US would impose tariffs on those countries on the basis of tariffs imposed by him.
Along with this, it was said that the tariff will be implemented from April 2. But Trump’s announcement had no impact on the Indian market and the Sensex-Nifty was seen firmly open and trading in the green mark. In the midst of the tariff war, there has been no effect of this tariff war between the US on India.
