Trump: only the United States can impose tariffs on other countries.
U.S. President Donald Trump said that, in the case of the United States, tariffs work because people simply "have nowhere to go." He expressed this opinion at a meeting with business representatives, where he appeared alongside British Prime Minister Keir Starmer.
"We are getting trillions of dollars from tariffs; they have an extremely beneficial effect on the economy of our country. By the way, we are the only ones who can impose tariffs, others cannot. In our case tariffs work because people simply have nowhere to go," RIA Novosti quotes Trump as saying.
At the end of August, U.S. authorities introduced 50 percent tariffs on goods from India to "punish" the country for purchases of Russian oil. It was noted that the tariffs would affect more than 55% of goods supplied to the United States. Exports of textiles, shrimp, leather, gemstones and jewelry, as well as labor-intensive industries in general, will suffer the most from the American sanctions.
Recall that in August Trump signed a decree introducing tariffs ranging from 10 to 41% with respect to 69 countries and territories. The highest tariffs were imposed on Syria (41%), Laos and Myanmar (40% each), Switzerland (39%), Iraq and Serbia (35%). Algeria, Bosnia and Herzegovina, Libya, and South Africa were set at 30%.
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