In the recent developments regarding US tariffs, US President Donald Trump is considering imposing new tariffs on agricultural imports that include Indian rice and Canadian fertilisers to support US farmers after hearing farmers’s decry regarding cheap foreign Goods that are weakening US producers.
New Tariffs On Agricultural Imports for domestic producers
Notably, the remarks emerged at a white house meeting where he revealed $12 billion in fresh support for US farmers. He asserted that imports were weakening domestic producers and reiterated his intent to address the issue. US President Trump cited that he would look after of alleged dumping Indian rice into US. Moreover, farmers have noted falling rice prices, alleging rice imports from countries such as India, Vietnam and Thailand are undermining their crops.
Possible Tariff measures on Canadian Fertilizer
In addition, he recommended possible tariff measures on fertilizer coming from Canada to encourage local production. He said that “a lot of it does come in from Canada and so we’ll end up putting very severe tariffs on that, if we have to, since that’s the way you want to bolster here and we can all do that there”. Interestingly, the statements popped up in the midst of ongoing economic pressures and concerns such as inflation and consumer prices. Farmers who are a significant base for Trump, have faced rising costs and market challenges associated with tariff policies.
Not only this, Trump had imposed punitive 50% tariffs on Indian goods, citing Russian oil imports earlier this year. A US delegation’s visit to India is expected this week to escalate the talks further, although no major breakthrough is expected.
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