Tariff crisis Trump's tariff policy

Information: Trump plans to reduce tariffs on metals

Donald Trump plans to reduce some of his tariffs on metals, reports the Financial Times. The move comes amid an ongoing cost crisis in the US, which has reduced the US president's voter support ahead of the mid-term elections later this year.

Trump imposed tariffs of up to 50 percent on steel and aluminium imports last summer. Since then, washing machines and ovens have also been included in the tariffs.

Now, sources say that the Trump administration is reviewing the products affected by the tariffs and plans to exempt some of them. Instead, it wants to launch national security investigations into specific goods.

New tariff agreement signed between the US and Taiwan

The US and Taiwan have signed a new trade agreement in which tariffs on US imports from Taiwan will be set at 15 percent and Taiwan will gradually reduce its tariffs against the US to zero. This is reported by international media.

According to the agreement, Taiwan will also increase imports of American goods “significantly” by 2029. Among other things, in the fields of oil, natural gas and energy equipment. Taiwan will avoid punitive tariffs on more than 2,000 goods.

“This is a crucial moment for Taiwan’s economy and industries to ride the winds of change and undergo a comprehensive transformation,” writes Taiwanese President Lai Ching-te on his Facebook page.