President Trump has revealed a set of tariffs while specifically leaving out Russia, Canada and Mexico in a move that is influenced by the current tariffs and sanctions affecting these countries due, to geopolitical factors and trade deals, in place showcasing the intricate nature of U.S trade policy.
In a statement, to the view ” President Donald Trump revealed a long list of tariffs placed on many countries worldwide.” Surprisingly though ” Russia,” Canada ” and Mexico were missing from this list.” This exclusion of these nations brings up queries about the reasoning, behind choosing which countries to impose tariffs on’ especially in light of trade deals and penalties affecting these regions.”
Russia was not included in the list of tariffs mainly because the United States has already imposed sanctions and does not engage in trade, with the country much as with others. Moreover tensions between the U.S and Russia are rising after President Putins statements about a government in Ukraine. Scott Bessent from the U.S Treasury Department mentioned that “We do not conduct trade with Russia and Belarus now due, to sanctions.”
Canada was not included in Trumps list of tariffs because it is already subject, to tariffs under the Canada US Mexico Agreement (CUSMA). The tariffs are applied to goods that do not meet the CUSMA standards and vary based on the type of compliant products, like energy and potash imports specifically facing certain rates. Additionally
Mexico is also part of CUSMA. Currently has some tariffs, in place that limit the imposition of broad tariffs for now under the new trade framework established between the U.S., Canada and Mexico as a replacement, for NAFTA.
Trump imposed a series of tariffs that mainly impacted nations such, as China (34%) the European Union (20%) and Vietnam (46%). These measures underscore the enduring trade conflicts and intricate network of relationships influencing U.S tariff policies.
President Trumps recent decision, on tariffs left out Russia, Canada and Mexico for reasons. Existing sanctions and tariffs in place for them played a big role in this. The complexities of Russias situation add another layer to trade relations while CUSMA deals with how tariffsre handled for Canada and Mexico making it difficult to introduce new tariffs there as well. This sheds light on the thinking, behind the Trump administrations trade policies.
Original Source: www.ladbible.com
