United States President Donald Trump cited Brazil’s fares during a US congress speech on Tuesday night (4).
In mentioning, the president cited Brazil, along with other countries such as Canada, India and China, stating that the new rates are set for April 2.
“Other countries have used rates against us for decades, and now it’s our turn to start using them against them. The European Union, China, Brazil and India, Mexico and Canada and several other nations charge tremendously higher rates than we charge them. It’s unfair. ”
Donald Trump
“India charges us tariffs larger than 100%, the average tariff of our products is twice as we charge them and the average South Korea tariff is four times higher,” he added.
Trump also stated that any tariff imposed on the US to another country will be charged reciprocally.
“In what they tax us, we will tax them. If they apply non-tariff measures to keep us outside their market, then we will make non-monetary barriers to keep them outside our market. We will have trillions of dollars and create jobs like we have never seen before ”
Donald Trump
Last month, Trump asked his government to investigate reciprocal tariff plans on all US business partners, scheduled for completion on April 1.
In the election campaign, he promised to address what he called the unfair commercial practices in foreign countries. US Secretary of Commerce, Howard Lutnick, told CNBC on Tuesday that “it is unbelievable the way we are deceived worldwide.”