The American President is pretty stubborn with his taxes and threatens to pull out the U.S. if things don’t go his way. Issues arose when Trump imposed taxes on the import of goods from several countries including China, Mexico, Canada and the EU as part of bringing his electoral campaigns to reality. He had promised on introducing fairer trade policies for the country in his political agenda which will make American goods reign in the world market. Being one of the largest economies, China definitely wasn’t mum on the issue. It, in turn, imposed taxes on American goods and currently both the countries have levied tariffs on one another’s goods. Not only does this seem like a massive trade war but also puts several good imports at stake that might economically do no good to either of the nations. Apart from China, the other countries mentioned earlier are equally being tariffed for the imports of steel and aluminum.
“If they don’t shape up, I would withdraw from the WTO”, said Trump in a recent interview. While this looks like a damaging threat to the world countries, there is little the body could do to negotiate considering the fact that Mr. President doesn’t seem to give up that easily.
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