The ongoing trump tariffs saga are taking new turns, especially after the announcement of the President’s proposed 50% tax on European Union goods. Now, the US and India are allegedly close to reaching a trade agreement, which may occur in the next 10 days. This is a boom for the market, given how Crypto’s property positively reacted when the US and China arrived at an agreement earlier this month.
Trump Tariff: US and India close to trade deal
according to a CNBC-TV18 reportThe US and India are close to making a success in business talks as a part of a step to reduce 26% tax resulting from Trump Tariff last month. The two sides may allegedly reach an initial agreement in the next seven to ten days.
As part of the agreement, the US will partially discount Indian goods from 26% mutual tariffs. Meanwhile, the US can impose 10% tariff on Indian imports, with zero duties on select product lines.
US President Donald Trump had warned Apple CEO Tim Cook before today that the company takes a risk of 25% import tax if it does not start manufacturing iPhones sold to Americans in the US. However, the CNBC report states that these proposed Trump Tariffs are unlikely to affect Apple’s manufacturing functions in the US.
American Treasury Secretary Scott Besant also mentioned that the US is far away in trade talks with India and some other Asian countries. He confirmed that he would announce more deals within the 90-day stagnation period for mutual tariffs.
However, Besant said that the European Union is not interacting in good faith. His statement came after Trump recommended 50% tariff on European Union goods Starting from 1 June. The US President commented that it is very difficult to deal with the European Union “,” and the discussion with him is not going anywhere.
After Trump’s statement, Bitcoin price The $ 111,900 reduced its intraday high to $ 108,000. The crypto market is unsafe for the news around Trump Tariff, which is why a potential US-India trade agreement may be positive for the market.
Boluvatif edemy
Boluvatif Ademi is a well -veteran crypto news writer and editor who has covered many subjects and Niches cuts in Niches. The most technical concepts in Boluvatiff are a habit to simplify and make Crypto neobis easier to understand. Away from writing, he is a fond Chawla basketball lover, a passenger and a part -time Digen.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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