WITHIN HOURS OF being sworn in as the 47th President of the United States of America, Donald Trump issued a series of executive orders that sent shock waves across the globe. From aggressive trade tariffs to changes in immigration, energy, and climate policies, Trump's 'America First' agenda is unapologetically focused on boosting the US economy often at the expense of its global partners.
Trump's message was unambiguous at the World Economic Forum in Davos, where he promised businesses operating within the US some of the lowest tax rates globally. But his warning was just as sharp. "If you don't make your product in America-which is your prerogative-then, very simply, you will have to pay a tariff. Differing amounts, but a tariff that will direct hundreds of billions, even trillions, into our Treasury to strengthen our economy and pay down debt," Trump said.
CHANGING LANDSCAPE
Following up on his promise on the first day in office, Trump has announced that Canada and Mexico will face tariffs of 25% on their exports to the US while China will have an additional 10% tariff.
Prime Minister Narendra Modi is set to visit the US on February 1213 for his first meeting with Trump in his second term and it remains to be seen if this will lead to better bilateral relations.
Esta historia es de la edición February 16, 2025 de Business Today India.
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Esta historia es de la edición February 16, 2025 de Business Today India.
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