The President of the United States Donald Trump is expected to impose new and global mutual rates on Wednesday on global commercial partners, overthrowing decades of trade based on the rules, increasing costs and probably attracting retaliation from all sides.
The details of the tariff plans of the “liberation day” of Trump were still formulated and kept confidential before the announcement ceremony at the Rose Garden of the White House at 17:00 (Brasilia Time).
The new rates will be expected to come into force immediately after Trump’s announcement, while a separate global rate of 25% on car imports will take effect on April 3.
Trump has declared that his mutual tariff plans are a measure to combine the generally lower US rates with those accused by other countries and neutralize their non -targeff barriers that damage US exports.
But the format of the rates was not clear among the news that Trump was taking into consideration a universal rate of 20%.
“I don’t remember a situation in which the risks were so high, yet the result was so unpredictable,” said Steve Sosnick, head of Interactive Brokers. “The devil will be in detail and nobody knows the details.”
A former first term of Trump told Reuters that the president is more likely to adopt rates on individual countries at slightly lower levels.
The former employee added that the number of countries that should have faced these rates will probably overcome about 15 countries that the secretary of the Treasury Scott Beesent had previously affirmed that the government was focused on its high commercial surpluses with the United States.
Besent told the Republican parliamentarians of the Chamber of Representatives Tuesday that mutual rates represent a “ceiling” of the highest level of US tariffs that countries have to face and can be reduced if they have satisfied the demands of the government, according to the deputy republican Kevin Hern.
Ryan Majerus, a former employee of the commercial department, said that a universal rate would be easier to implement due to a limited program and can generate multiple income, but the individual mutual rates would be more adapted to unjust commercial practices in the countries.
“In any case, today’s impacts will be significant in a wide range of sectors,” said Majerus, partner of the legal law and Spalding.
In just over 10 weeks since it entered office, the republican president has imposed new rates of 20% on all imports in China due to Fenetanil and totally restored the rates of 25% on steel and aluminum.
The exemption of a month for most of the Canadian and Mexican products of their foam rates of 25% will expire on Wednesday.
The government authorities have said that all Trump taxes, including previous rates, overlap, so that a Mexican car, which was once evaluated at 2.5% to enter the United States, would be subject to the slitty rates and the sectoral automotive rates, for a total of a rate of 52.5% – any more mutual rate that Trump can impose on products. Mexican.
Commercial partners, from the European Union to Canada and Mexico, promised to respond with retaliation rates and other contracts, although some have tried to negotiate with the White House.
Source: Terra
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