Universal levies and focused revenge

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On Wednesday, Donald Trump announced wide US import tariffs, the introduction of the world economy into a new trade competition.

The measures announced from the pink garden of the White House during what Trump called “Liberation Day” include basic universal fee as well Purposened mutual tariffs. The responsibilities will be released on top of those who already exist.

Many economists fear that additional levies will lift inflation in the largest economy in the world. But they can survive until Trump believes that his goals – including revenue and production revival in the United States – were not fulfilled.

What are the measures?

• Basic tariff out of 10 percent of imports from all countries.

• “Individualized mutual higher tariff” At 60 “worst violators” – the countries with which the US says he has the biggest trade deficit.

• Mutual tariffs will range from 10 percent to 50 percent. The exact collection is based on what the White House Economic Advisers’ Council is the amount of tariffs and non-tariff barriers to US goods. Half of this level will apply to imports from 60 countries.

How did Trump do this and when the tariffs begin?

• The US president has launched emergency powers for new tariffs. The administration has announced the national emergency “due to the problems of national security and economic security that result from the conditions reflected in the high and sustainable annual deficit of the US goods.”

• The first tariffs will be applied within a few days. US officials said the main tariff for 10 percent will come into force from 12.01 am on Saturday, April 5, and higher mutual tariffs will be applied from 12.01 am on Thursday 9 April.

What countries have suffered?

• The EU has imposed 20 percent tariff Reflecting Trump’s perennial hostility to what, he said, is “unfair trading practice”.

• Trump said goods from China would be affected by 34 percent mutual tariff. Most importantly, This will be on top of existing 20 percent tariffs Accepting a gathering that introduced the president from the second largest US trading partner of at least 54 percent.

• The goods in the UK will face responsibilities only 10 percent – A small victory in London, which will also lead to rapid trade with the US.

• Japan gets the tariff by 24 percent, by strike one of the nearest US allies.

• Some of the export power plants of Southeast Asia were affected by the tariffs nearly 50 percent. Cambodia was given a mutual rate of 49 percent, followed by 48 percent and Vietnam with 46 percent. Other countries with tariffs more than 40 percent include Sri -Leanka with 44 percent, Madagascar with 47 percent, and Myanmar with 44 percent. The tiny French territory of St. Pierre and Micelon, off the Newfoundland in Canada, was affected by a 50 percent collection.

Are there any exceptions?

• Mexico and CanadaWhat were the frequent targets of Trump’s attacks in recent weeks will evade mutual tariffs. Duties of 25 percent of goods that do not meet the 2020 trade transaction will remain in place.

• Machine – Like. The White House said that cars and details of the vehicles were already affected by 25 percent tariffs announced last week would be deprived of additional mutual tariffs. But the collection will be applied from April 3, Trump said.

• Bulls, energy and minerals that are not found in the USA It will also be deprived of mutual tariffs.

• Semiconductors, pharmaceuticals, copper and lumber Do not attract mutual tariffs. But Trump has already announced the probes that could lead to copper and lumber tariffs, and signaled what would do the same for pharmaceuticals and computer chips.

How long will the tariffs last?

• Transactions may be possible – but it will depend on Trump. The executive order, which announces new tariffs, said the president could “reduce or restrict” duties if “any trading partner will take significant steps to correct unrecery trade agreements and sufficiently comply with the US on economic and national security.”

• But US officials signal that they are focused on tariff application. “Of course, countries are very interested in trying to see what they can do to have more mutual trade,” said a high -ranking White House official. “At the moment, we are very, very focused on creating a tariff mode.”

• Tariffs can also go higher. The executive order warned that any retribution of countries to the measures announced on Wednesday will be executed with more US levies.

What is the purpose of the tariffs?

• To reduce US trading deficitWhat has been a long -standing goal of Trump. Officials have accused “massive” and “chronic” US trading deficit of blurring production capabilities, suppression of salaries and “transfer … assets to foreign hands”.

• Make companies to move production to the US. Trump hopes the businesses will create a store in the country to avoid tariffs by creating more jobs. “The goal is to restore American greatness and well -being for daily American workers in their communities,” the US official said.

• “Correction of unfair trade practice”. The White House representatives said Trump was “uniquely about his commitment to correcting the unfair trading practice of our foreign trading partners, both a friend and an enemy.”

• Draw income for the USto help pay a deep tax reduction. While US officials did not refer to this as a reason for the tariffs, they stated that the fees would raise “hundreds of billion dollars in any year” or “trillion for the 10-year period”.