US News

US May Pursue Individual Trade Agreements Following Trump’s Tariffs Reset: Rubio


The Secretary of State announced that tariffs will be implemented on countries that mirror the tariffs imposed on the United States.

According to Secretary of State Marco Rubio, the United States may pursue bilateral discussions with other nations regarding new trade agreements once U.S. tariffs “reset the baseline” with those countries. This statement was made on Sunday.

In an interview with CBS News’ “Face the Nation,” Rubio explained that President Donald Trump’s tariffs are designed to restore balance to America’s international economic position after years of inequitable global trade practices.

“For the past 30 or 40 years, we have allowed nations to unfairly treat us in global trade, much of this occurring during the Cold War when we wanted our allies to thrive,” Rubio stated in a conversation with host Margaret Brennan. “It’s time for that to change.”

Trump’s tariffs are already impacting the United States’ nearest neighbors, with imports from Canada and Mexico now facing a 25 percent tax. Additionally, Trump has proposed a 200 percent tariff on alcohol from the European Union, responding to the bloc’s intention to place a 50 percent tax on U.S. whiskey imports.
These latest tensions arise following the imposition of new U.S. tariffs on steel and aluminum, which became effective on March 12. Canada and Europe, two key trading partners of the United States, have criticized these duties as unjustified and retaliated with their own tariffs on American products. The EU’s two-part countermeasures are set to take effect on April 1.

Rubio contended that it is unjust for Europe, with an economy of similar size to that of the United States, to export more goods and services to America than it imports.

“It’s not a low-wage economy. Its economic structure is quite comparable to ours,” he stated, referring to the EU. “So why do they maintain a trade surplus over us?”

The Secretary then outlined two primary objectives of the Trump administration’s trade strategy. First, he noted that the aim is to strengthen domestic manufacturing in essential sectors, including aluminum, steel, semiconductors, and automobiles, utilizing tariffs as leverage to encourage manufacturers to produce within the United States.

The second goal, according to Rubio, is to implement reciprocal tariffs on nations that already impose tariffs on the U.S. to foster a more equitable trading landscape.

“This is a global issue—it’s not directed solely at Canada, Mexico, or the EU; it encompasses everyone,” he asserted.

“From this new baseline of fairness and reciprocity, we may then engage in bilateral negotiations with countries globally on new trade arrangements that are mutually beneficial,” he added.

He reiterated that the United States has historically faced unfair trade practices.

“We are going to reset the baseline and then we can enter into these bilateral agreements, if they desire, that are fair for both parties,” he stated.

Although Rubio did not specify what the future trade agreements might entail, he emphasized that the current conditions are no longer sustainable.

“We are going to establish a new status quo and then we can negotiate something, should they choose to, that is equitable for both sides,” he concluded. “The current situation cannot be allowed to persist.”



Source link

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.