American Tariff: Trump plans to carry 10% of duties on goods from African and Caribbean countries; Lakshya Pharma and Chip sector next

The news agency AP reported that US President Donald Trump announced on Tuesday (local time) that he plans to implement more than 10 percent tariffs on small countries, including the nation in Africa and Caribbean. “We will probably set a tariff for all of them,” Trump told reporters.Commerce Secretary Howard Lutnik clarified that the affected countries would be mainly in Africa and Caribbean. He further stated that these regions typically have a low trade level with the United States and will not significantly help Trump’s widespread target to reduce America’s overall trade deficit.Earlier this month, the President sent notices to about two dozen countries and the European Union announced new tariff rates, which will be effective on 1 August. These new rates are generally similar to import taxes declared on 2 April, the highest in recent American history. The preliminary announcement caused concern in the financial markets, so that the administration could set a 90 -day period for the conversation ending July 9.Trump also said that he would announce a new tariff on pharmaceutical drugs by the end of the month. He said that these tariffs will start at a low rate, which will give companies a year for the construction of factories in the United States before facing high import taxes. He said that computer chips will also face similar tariffs. Earlier, Trump announced a trade agreement to reduce tariffs on Indonesian exports with Indonesia to 19% and to provide full market access to American goods.