US President Donald Trump
US President Donald Trump dey on standby to announce different range of tariffs from kontri to kontri.
Di announcement go happun on Wednesday for di White House Rose Garden.
E neva dey clear di specific tariffs wey Trump go announce, which kontris go dey affected, or how large di tariffs go be.
For Trump, tariffs na key tool for im “America first” trade vision wey im get and e insist say e go boost US manufacturing and economic growth.
Meanwhile, economists warn say tariffs fit no get di kain effect wey Trump dey claim and stock markets don dey shake in recent weeks.
As di US dey play a big role for di global market system, plenti kontris across di world dey watch closely on wetin Trump go announce.
Trump dey call am ‘Liberation Day” for America, as e insist say im soon-to-be-announced tariff plan go free di US from years of unfair practices wey e say dey rip im kontri and dey destroy di American heartland.
President Trump don recently tok say di tariffs gatz be do me I do you based on wetin different nations dey charge on imports from di US.
Although we neva sabi di level of tariffs wey go dey charged on goods imported into di US, but di tarrifs go take effect immediately according to di White House official tok tok woman.
Trump still believe say im plan go generate billions of dollars as well as return jobs and manufacturing to di US.
Which tariffs dey alreadi?
We know say new import tax of 25% on cars wey dey enta di US don come into effect today, and car parts go face di same tax at some point for di next few months
Some tariffs don alreadi dey implemented, for March dem raise a flat duty on all steel and aluminium wey dey enta di United States to 25%.
Trump don also alreadi raise tariffs on all goods wey dey imported from China to 20%
Canada bin hit back at di tariffs, imposing a 25% levy on US steel and aluminium, while China dey hit wit a 10-15% tax on some US agricultural goods
Di EU warn say e dey ready to do dia own back, while di UK tok say dem dey prepared for di worst
Tariffs effect on Americans
One major tin wey sabi economy pipo dey tok be say, di tariffs mean say consumers go begin pay higher prices.
But why dis go happun? Dis na becos, while e be say na company wey dey import di goods go pay di tarrifs, dose companies go pass di costs ontop customers by increasing prices.
For a product like a car, no be only once dem dey pay tarrif but plenty times as di body of di car dey cross multiple borders during di building process and dem dey import oda parts to di US.
Wen you add all dose extra charges up, you go see why car companies and consumers dey worry ontop tarrifs matter.
For Trump, e wan encourage US companies to build tins for di US wit American workers to avoid di tariffs.
But car companies say e no dey easy becos to open new factories and hire staff no be play play matter.
Meanwhile, stock markets across Asia dey monitor di situation ahead of tariff announcements by Trump.
Dem dey watch to know how dem go react to di new tariff wey di US President wan impose.
Wetin be tariffs and how e dey work?
Tariffs na tax wey kontris dey specially charge on products wey dem import from oda kontris.
Di companies wey dey carry di foreign goods enta na im go pay di kontri goment di tax.
Tariffs na percentage of di price of di product. 20% tariff on Chinese goods mean say product worth $10 (£7.76) go get additional $2 charge.
Companies fit choose to pass some or all of di cost of tariffs to customers.
US bin dey charge lower tariffs on goods dan oda kontris.
Trump new tariffs – and im promise to introduce more “revenge” tax on goods from oda konntris – fit lead to sharp increase in di price wey pipo go pay for di good for US and around di world.