United States President Donald Trump on Friday reiterated his stance on his ambitious trade plan and said that the tariffs are here to stay and will supercharge the economy.
Posting on his social media platform Truth Social the US President remarked that the big businesses are not worried about the tariffs because they are aware that the tariffs are going to stay.
“Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!” he wrote.
According to ANI, the US stock markets tanked more than 5 percent on Friday after Donald Trump’s reciprocal tariffs sparked fear among investors of a global economic recession.
Earlier, the US announced a 27 percent reciprocal tariff on India and stated that New Delhi imposes high import duties on American goods, as the Trump government aims to reduce the country’s trade deficit and boost manufacturing. The move is expected to impact India’s exports to the US.
The US President to counter higher duties on American products imposed globally, announced reciprocal tariffs on about 60 countries, PTI reported.
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