To date, US President Donald Trump, US President Trump, has entered into force – a decision that can trigger reprisals and degenerate trade tensions, overwhelming the global economy.
The initial “reference” rate of 10% came into force during sea ports, American airports and customs in the United States at 12:01 p.m. (04:01 GMT) on Saturday, inaugurating the full rejection of Trump of the post-Second World War price system.
Among the countries for the first time with the 10% price are Australia, Great Britain, Colombia, Argentina, Egypt and Saudi Arabia.
The commercial gaps said that the White House was motivated by an “absence of reciprocity” in relations and other policies such as “exorbitant value added taxes”.
An American customs and border protection bulletin to sender does not indicate any period of grace for the cargoes on the water at midnight on Saturday.
But an American customs and border protection bulletin provided a period of 51-day grace for cargoes loaded on ships or planes and transit to the United States before 12:01 a.m. HE on Saturday. These cargoes must arrive before 00:01 he (4:01 GMT) on May 27 to avoid service by 10%.
In addition, on April 9, higher “reciprocal” Trump rate rates from 11 to 50% should take effect. Imports from the European Union will be affected by a tariff of 20%, while Chinese products will be affected by a rate of 34%, which brings Trump’s new samples to China 54%.
Vietnam, which benefited from the gap of the American supply chains far from China after the Trump trade war with Beijing, will be struck by a price of 46%. The country, however, agreed on Friday to discuss an agreement with Trump.
Canada and Mexico are both exempt from Trump’s latest functions because they are still subject to a 25% rate linked to the American fentanyl crisis for goods that do not comply with the rules of American-mexic-Canada origin.
‘Quite seismic’
Michael Strain, director of economic policy studies at the American Enterprise Institute, told Al Jazeera that the American rates had been poorly welcomed by investors.
“This would have a very poor effect on the economic results of workers, households and businesses,” he said, adding that this decision “would constitute a tax increase of $ 400 to 500 billion this year on American and businesses.”
“The combination of a sharp increase in taxes and prices would increase the prices of these imported goods with which households face [and] would mean that households would most likely see negative income growth … that only a recession in the United States would risk, “he said.
On Friday, China announced that it would impose its own 34% price on American products from April 10. Beijing has also said that it would continue the United States to the World Trade Organization (WTO) and restricts exports of rare land elements used in high-end medical and electronic technologies.
Trump warned on Friday on social networks that “China played badly”, saying it was something “they could not afford to do.”
Other major business partners have retained themselves while they continue to digest the current international dead end and fears of a recession.
The announcement of the Trump Wednesday tariff shaken the world’s stock markets, destroying 5 billions of dollars in market value for S&P 500 companies by the end of Friday, a record decrease of two days. Prices for oil and basic products have plunged, while investors have fled to the security of state bonds.
Economists have also warned that prices could mitigate fuel growth and inflation.
Kelly Ann Shaw, Trade Lawyer at Hogan Lovells and former Commercial Advisor of the White House during Trump’s first term, said on Thursday at a Brookings Institution event that she expected that prices evolve over time while countries were trying to negotiate lower rates.
“This is the greatest commercial action in our life,” she said. “But it’s huge. It is a fairly seismic and significant change in the way we exchange with each country on earth. ”
Trump declared on his social platform of truth that his “policies will never change”.
However, his latest rates have notable exclusions. They do not compare themselves on prices of 25% recently imposed reaching imports of steel, aluminum and cars.
Savings are also temporarily spared, pharmaceutical products, semiconductors and wood, alongside “certain critical minerals” and energy products, said the White House.
But Trump ordered copper and wood surveys, which could lead to new functions soon.
He threatened to strike other industries such as pharmaceutical products and semiconductors, which means that any suspended “could be limited.
