Washington [US], May 27: Reuters reported yesterday (May 26) that US President Donald Trump emphasized that his tariff policy is to promote the production of some domestic heavy industries and technologies.
Speaking to the press in New Jersey (USA) on May 25, Mr. Trump wanted the US to focus on producing military equipment such as tanks, warships or high-tech products related to artificial intelligence (AI) such as chips and computers. Mr. Trump agreed with the statement of US Secretary of Commerce Scott Bessent that the US does not necessarily need a booming textile industry .
Mr. Bessent emphasized on April 29 that the garment industry has passed its prime and that President Trump is interested in "the jobs of the future, not the past." Responding to Mr. Trump's statement on May 25, the American Apparel and Footwear Association (AAFA) expressed concern that the White House's tax policy will cause businesses in the industry to bear additional input costs. This will increase product prices and especially affect low-income consumers, while about 97% of clothing and footwear in the US are imported, according to AAFA.
Also related to the US tariff policy , on May 25, Mr. Trump announced that he would postpone the imposition of a 50% tax on goods from the European Union (EU) until July 9 to allow time for negotiations. The information was released after European Commission President Ursula von der Leyen called Mr. Trump on May 25 and said that she "wanted to start serious negotiations". According to AFP, Ms. von der Leyen said that the EU would quickly reach a trade agreement with the US. Previously, Mr. Trump complained that negotiations with the EU had reached a dead end and threatened to impose tariffs on the bloc from June 1.
Source: Thanh Nien Newspaper
