WASHINGTON: President Donald Trump, while imposing tariffs on countries exporting commodities to USA, expected to revolutionize the American industry and bring jobs back to the United States.
Manufacturers did not open new units due to augmentation of rates. Lots of them wrapped-up their businesses. But, since the exporters did not reduce cost of their wares, the US businesses had to sacrifice thirty percent of their profit margin. The American citoyens were hit by the remaining seventy percent in the form of increased tariffs by importers.
Following a poll conducted recently, it transpired that 54% of voters opposed Trumpian Tariffs. Fifty-one percent noted that Trump’s policies had made life less affordable. Nevertheless, US Govt. happily collected $287 billion in customs duties, taxes and fees in 2025, three times the amount in 2024. This will enable uncle SAM spend more on defence, social security and debt servicing.
Indian Prime Minister Narendra Modi, while visiting China for the first time in seven years, met the host of 2-day Shanghai Cooperation Organisation (SCO) summit President Xi Jinping on the sidelines in Tianjin on 30th August, 2025.
