Olusegun Ariyo
President of the United States of America, Donald Trump, is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday.
The Trump administration is reportedly considering possibilities after promising to remake the American economy with a slew of new levies.
The Wall Street Journal cited unnamed people familiar with the discussions as saying that one key point of debate is whether to impose individualized tariff rates for US trading partners.
Trump had recently hinted this move in recent weeks and also the option of sticking to his campaign promise of an across-the-board tariff that would affect nearly every country doing business with the US.
WSJ reports that Trump’s advisers have considered imposing global tariffs of up to 20% that would hit virtually all US trading partners.
The American leader is also considering implementing a series of new industry-specific tariffs that could hit crucial minerals and products containing them.
DAILY POST reports that Tariffs are customs duties levied on certain merchandise imports or a category of products.
Governments impose tariffs to help local producers and manufacturers be more competitive in the market, among other things.
