US President Donald Trump, tariffs up dozens of countries, This Thursday, August 7, to establish your new world commercial order, in which customs rates become a weapon of economic policy.
(See: Pay a dividend to Americans: Trump’s new proposal).
Its objective: restructure trade “for the benefit of US workers“
“Millions of dollars in tariffs flow to the United States now!“Trump wrote in capital letters on his social truth platform.
Washington maintains the universal minimum of 10% imposed in April to the countries to which the United States exports more than matters, that is, with those who have commercial surplus.
Tariffs between 15% and 41%: which countries will apply
In the opposite case, From this Thursday They apply higher surcharges between 15% and 41%.
Most will pay 15%, such as The European Union, Japan, South Korea, Costa Rica, Bolivia, Ecuador and Venezuela, inter alia. Nicaragua, 18%.
(See: The United States tariffs enter into force: how Colombia looks).
India will be the most punished, with 50%, If the 25% that entered into force this Thursday and 25% that will apply to it in three weeks for “The continuous purchase of Russian oil“
For New Delhi, one of the main friction points has been Washington’s requirement to access the vast agricultural and dairy market.
“We will not compromise the interests of our farmers, our dairy sector and our fishermen“said Prime Minister Narendra Modi on Thursday.
Brazil deserves separate mention. Despite having surplus with the country, many of its products, including coffee and meat, They are taxed with an additional 50% since Wednesday, August 6, partly in protest The trial for alleged coup attempt against former president Jair Bolsonaro, whom Trump considers a victim of a ‘witch hunt’.
Mexico He has won time with an extension of 90 days to negotiate an agreement and in the meantime he pays 25%, except in the goods protected by the North American Free Trade Agreement (T-MEC), of which is part of the United States and Canada.
This agreement also protects many goods from Canada, hit for a few days with 35% of supplementary taxes.
(See: Donald Trump announced 100% tariff to chips and semiconductor imports).
The new customs rates reach 41% in the case of Syria. Swiss, That he steps on his heels with 39%, he tried in vain to reduce the percentage and his government has called an extraordinary meeting on Thursday afternoon.
In Truth Social, turned into a megaphone, the Republican president usually writes that surcharges will make the United States “be big and rich again“. And although the state coffers will undoubtedly swell, it is soon to determine its impact.
Duty.
AFP
How do Americans see the imposition of tariffs
A survey of Morning Consult/The Century Foundation, published on July 31, shows that 83% of Americans are concerned about the price of food.
Most economists estimate that US consumers end up paying more, because Companies, given the increase in costs, raise the prices of their products.
Trump deals to alleviate it with a promise that awakens more questions than anything else.
(See: Brazil Government advances in request for consultations before the WTO against Trump tariff).
“Enter so much money that we consider a small refund“To Americans, he said in July, without specifying how it would be financed.
“The most important thing is to settle debt“, which at the beginning of August exceeded 36.8 billion dollars, nuanced nevertheless.
The US president is committed to protectionism to reindustrialize the United States and wants companies to manufacture in their territory.
Protesters against Trump.
AFP
Semiconductor tariffs and pharmaceutical products
This Wednesday, August 6, Trump announced that he has The intention to impose 100% tariffs on chips and semiconductors, But the company “Fabric in the United States, there is no surcharge“
Pharmaceutical products should be the following on the list.
“Initially, we are going to place a small tariff on pharmaceutical products, but in a year, a year and a half, maximum, it will rise to 150% and then 250% because we want pharmaceutical products to be manufactured in our country“Trump declared this week to the chain CNBC.
(See: Despite maintaining tariff advantage in the US, Colombia faces competitive pressure).
The tycoon already imposed specific surcharges to other sectors, such as 50% to steel, aluminum and copper, and 25% to cars and components not enter the T-MEC.
Trump’s tariff oning is staggered. The next important date will be On August 12, when a commercial truce expires with China by virtue of which both countries reduced their 10% respective tariffs on US products and 30% on Chinese.
In this context of commercial armistice, Chinese exports to the United States fell 6.1% between June and July, according to official data revealed this Thursday.
(See: This is the impact of US tariffs on Colombian products).
The two great powers negotiate to prolong the truce. The final decision is in Trump.
Chips
AFP
