The new long -awaited tour of President Donald Trump is here, and this may mean an increase in prices on a group of goods on which Americans depend.
On Wednesday, Trump signed an executive order announcing a mutual tariff for all countries that put a tariff on American goods. These definitions fall on the so -called “liberation day” called Trump, and which was promoting weeks as the day when his wide commercial plan will decrease.
“The American industry was born again, the day when the fate of America was reclaimed, and the day we started making the wealthy America again,” Trump said during the notes on Wednesday.
Trump said that the motive behind the mutual tariff: “They are doing it for us, and we do it for them.” “Very simple. You can’t get any simpler.” He added that all customs duties will have a 10 % essential definition.
Trump said during his statements that he would receive “nearly half” what these countries were receiving. Trump said this will reach 32 % tariffs on goods from China, 20 % tariffs for the European Union, 32 % tariffs for Taiwan, and 26 % tariffs of India.
Trump also announced a 25 % tariff on all auto imports in the United States. He did not mention any new tariff for Canada or Mexico during his statements.
In the weeks leading up to April 2, Trump referred to a set of definitions he was planning to implement. It included a 25 % tariff on the goods from Canada and Mexico, a 25 % tariff on all cars and cars imported in the United States, definitions of agricultural goods, and mutual definitions on all countries that put the customs tariff on American goods. 25 % tariffs on steel and aluminum imports are already valid.
The mutual definitions are the widest category, and Trump previously indicated that there will be “flexibility” in terms of the scope of the definitions that will end in those countries.
These definitions of prices are likely to increase the affected goods, and although some companies may choose to absorb some costs, consumers are to bear most of the burden.
Before Trump’s introductory announcement, the White House wrote in a press statement on Wednesday morning that the customs tariff “will lead to” the stadium’s settlement of American workers and companies. “However, the markets and consumers have already felt financial strains due to the constant uncertainty with Trump’s commercial plans.
“When the president does not have a strategy or a clear trend, it is very difficult for companies in particular and consumers, and for this reason you see a lot of uncertainty in the consumer market at the present time, as those associated with the business community told,” said Alex Jackers, a consultant at the National Economic Council at the present time.
The United States is likely to see a retaliatory tariff from the affected countries after Trump’s announcement. Canadian Prime Minister Justin Trudeau said that he would put a customs tariff on American goods until the Trump tariff is withdrawn.
The United Automobile Union had previously praised the president’s plan to put a 25 % tariff on all cars and auto parts that were imported to the United States, saying it would return more jobs to the American auto industry.
“These definitions are a major step in the right direction of the Autoom specialists statement.
