President Donald Trump has intensified the global trade war by imposing a 10% rate in most imported goods to the United States, together with significantly higher levies in key commercial partners, a measure that must be promoted inflation and launch economic growth.
Announced in the White House Rose Garden, radical tariffs sent shock waves through global markets. The Japan Nikkei index collapsed to a minimum of eight months, while the futures of the United States and Europe fell as investors rushed to safe assets such as gold and bonds.
China, already beaten with a 20% tariff, now faces an additional 34% tax and has promised countermeasures, despite the warning of the United States Treasury Chief, Scott Besent, on a greater escalation. The key allies of the United States, including Japan and the European Union, were also attacked, with tariffs or 24% and 20%, respectively. Base rates of 10% enter into force on April 5, with higher rates after April 9.
The president of the European Commission, Ursula von der Leyen, condemned the measure, qualifying it as a great blow to the global economy and warning that the EU is prepared to respond if the negotiations fail. “The consequences will be serious for millions worldwide,” he said.
Trump defended tariffs as a necessary response to foreign trade barriers, claiming that they will boost US manufacturing. “For decades, our country has generated, looted, raped and looted by near and distant nations, both friends and enemies equally,” he said.
However, economists warn that tariffs could increase the prices of US consumers for thousands of dollars and high recession risks. Even some Republicans have expressed groups. A few hours after the announcement, the Senate approved a bill to finish tariffs on Canadian goods, he thought he faces a uphill battle in the chamber.
Closure of commercial lagoons and expanding tariffs
Trump also signed an order to close the “The Minimis” escape, which allowed tax free entry for low value imports below $ 800, particularly from China and Hong Kong. The White House affirms that this movement will help stop the flow of fentanyl in the United States.
In addition, Trump is preparing new tariffs on semiconductors, pharmaceutical products and critical minerals. A separate set of automatic tariffs announced last week will enter into force on Thursday.
With the fear of the increase in prices and the increase in global economic instability, Trump’s aggressive commercial policies have caused a fierce debate at home and abroad. Next week will evaluate whether diplomatic negotiations can reduce tensions or if the world is aimed at a total commercial conflict.
Follow Emirates 24 | 7 on Google News.
