Trump's Tariff Strategy and Trade Talks Heat Up with India and South Korea
President Trump plans a 25% tariff on oil imports from Venezuela, while India and South Korea negotiate trade deals ahead of new tariffs.
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New Delhi wants to strike a deal before the reciprocal tariffs are announced and Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch will lead a delegation of officials from United States for trade talks from Tuesday.
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China has long sought to attract foreign investment as a way to bolster growth, while tapping business interests for potential influence on the White House, particularly under U.S. President Donald Trump.
China invites U.S. business leaders to Beijing as it tries to decipher Trump’s trade plans
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The investment also includes a new $5.8bn Hyundai Steel plant in Louisiana that will produce more than 2.7m metric tonnes of steel annually, creating more than 1,400 jobs.
Hyundai announces $21bn US investment as Trump tariffs loom
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The president also accused Venezuela of being hostile while migrants are being removed from the U.S.
Trump threatens tariffs for countries that buy Venezuelan oil, gas
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His latest threat against Venezuela is expected raise pressure on current buyers of oil - which include China, India and Spain - to reduce their dealings in the country, which have provided a critical financial lifeline to the Venezuelan government.
Donald Trump threatens US tariffs on countries buying Venezuelan oil
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Aviation's goal of “net zero by 2050” seems to be drifting even further away, according to Airbus chief Guillaume Faury.
Trump Plans Tariff on Countries Buying Venezuelan Oil
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Instead, they should realize that his overall plan may well create the biggest economic boom for blue-collar working folks and everybody else.
Trump's Supply-Side Taxes Are Many Times Larger Than Reciprocal Tariffs
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This is a sharp reversal after weeks of declines.
Trump Says He Could Give Tariff Breaks to ‘a Lot of Countries’
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The president is arguing that tariffs will bring back manufacturing jobs, rather than worsen inflationary pressures and hinder growth as economists have warned.
Trump vows 25% tariff on countries that buy Venezuelan oil
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Trump says countries that buy Venezuelan oil will face 25% tariff
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Summary
President Trump announced a 25% tariff on oil and gas imports from countries purchasing from Venezuela, citing criminal concerns. This decision aligns with rising oil prices and the upcoming 'Liberation Day' on April 2. Concurrently, India’s Prime Minister Modi is negotiating significant tariff cuts on U.S. imports to preempt reciprocal tariffs that could impact 87% of India’s exports to the U.S. South Korea's Hyundai plans a $21 billion investment in the U.S., boosting local manufacturing amid tariff threats. Markets reacted positively to these developments, anticipating potential economic shifts.
Perspectives
Trump's announcement of a 25% tariff on countries purchasing oil from Venezuela has been framed as a 'secondary tariff' to punish Venezuela for alleged hostile actions, including the export of criminals to the U.S.
While the tariffs are intended to penalize nations like China and India for their oil purchases, the potential for exemptions suggests a more targeted approach than previously anticipated, aiming to balance economic impacts with diplomatic relations.
The administration has signaled that while tariffs are imminent, they may not be as broad or harmful as feared, with predictions of a selective strategy that could mitigate economic disruptions in the U.S.
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