US President Donald Trump announced the introduction of large-scale restrictions on American imports. It is expected that tariffs will amount to trillions of dollars for trade.
This is reported by RBC-Ukraine, which responded to Trump’s statement.
Speaking in the Rozhevoy Garden and White House, the US President announced “very, very good news.”
“In a few minutes, I will sign a historic decree on mutual tariffs for the corners of the world. Mutual. This means that those who get rid of us, we will work out with them. It’s very simple. It couldn’t be simpler,” he said Trump.
He criticized Thailand, India, Vietnam and other countries for what he thought was an unfair tariff policy and tax regime for American goods. As a matter of fact, the USA collects only 2.4% of taxes on motorcycles, while India – 70%, Vietnam – 75%.
Also, before signing the decree, he long described the “unfair tariffs” that other countries imposed on American goods. “Some friends fight for their enemies,” Trump said, looming at the high tariffs that sent other allied countries to Japan.
“This is one of the most important days in American history. This is our Declaration of Economic Independence,” said the US President.
“To the extent that it is wrong for us to come before us, we are assessing the amount of their tariffs, non-monetary barriers and other forms of swindle,” he said, explaining what the promise of “reciprocal tariffs” would bring to the United States.
He also reiterated that, from the 2nd to 3rd quarter, the United States will introduce 25-hundredth tariffs on all foreign-made cars. And also by voting about introducing a universal or “minimum basic tariff” for imports of 10%.
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Previously, Trump and his father have clearly named the European Union, Mexico, Canada, Japan, South Korea, Vietnam and India as likely targets for his upcoming campaign to “punish unfair trade practices.”
According to Bloomberg, the world's trade is expected to lose $33 trillion, and countries from Brazil to China face a decline in exports to the United States by 4 to 90%. It is likely that the average price could rise by 15%, leading to increased inflation and increased risk of a US recession.
Today's praises will complement the progress made since Trump took office in Sichny. His administration introduced an additional 20% tax on all imports from China and 25% on many goods from Mexico and Canada. In addition, there is a global 25% tariff on imports of steel and aluminum. A decree was also signed introducing a 25% tax on the import of cars and other spare parts (increasing the 3rd quarter).
What kind of inheritances can there be?
According to Bloomberg data, over the maximum period, average tariff rates in the United States will increase to 2%, which will lead to a decrease in American GDP by 4% and an increase in prices by as much as 2.5% for two to three years.
The influx on trading partners in any scenario will be serious. China, the EU and India can shorten the list of countries that suffer from the influx of exports to the United States, although their economies may survive. Canada and the edges of Northern Asia are likely to experience a larger influx of gas.
Apparently, it was previously reported that the European Commission could eventually close the EU market for American goods.
As the President of the European Union Ursula von der Leyen said, the European Union has a “decisive plan”, but it is more important to joke about the decision on the way of negotiations. It seems that Brussels is ready to seize the interests of European companies and residents.
Canadian Prime Minister Mark Carney also threatened the United States with attacks on the Soviet Union.
Read terminology and important information about the war between Russia and Ukraine on the RBC-Ukraine channel on Telegram.