Just a couple of days after the US Supreme Court verdict on tariff imposed by the US administration, President Donald Trump has threatened to impose much higher tariff or even worse on what has been agreed upon for countries that will try to 'play games'.
In his social media post on Monday, US President Donald Trump said, "Any country that wants to “play games” with the ridiculous Supreme Court decision, especially those that have “Ripped Off” the USA for years, and even decades, will be met with a much higher tariff, and worse, than that which they just recently agreed to."
The announcement from the US President came after the European Parliament decided on Monday to postpone for a second time a vote on the European Union's trade deal with the United States after Trump's imposition of a new blanket 15% import tariff, and even weighs on delaying the ratification process of the trade deal with the US.
While the Indian Ministry of Commerce affirmed on Saturday that they are still analysing the situation, the visit of the Indian negotiating team to the US, scheduled on February 23, has been cancelled as of now. According to many trade experts, India should not to rush to conclude the trade deal with US amid the growing tariff uncertainty. With the recent announcement of Trump, uncertainty prevails among Indian exporters on whether there will be a new tariff.
The US Supreme Court on had on Friday struck down the tariff system by the Trump administration. However, Trump announced that there are several other measures more powerful than tariffs and he would not need any approval from the US Congress to implement the same.
President Donald Trump said on Saturday he will raise a temporary tariff from 10% to 15% on US imports from all countries for a duration of 150 days.