After walkback and confusion, the US tariff kicks for dozens of countries
President Donald Trump on Thursday began to implement high import taxes on dozens of countries, as the economic decline of his months-tariff hazards started to create headwinds for the US economy.
After midnight, more than 60 countries and European Union goods were subject to tariff rates of 10 percent or more. Products in the European Union, Japan and South Korea are taxed at 15 percent, while the imports of Taiwan, Vietnam and Bangladesh are taxed at 20 percent.
Trump also hopes that the European Union, Japan and South Korea will invest hundreds of billions of dollars in the US
“I think Vikas is going to be unprecedented,” Trump said on Wednesday afternoon. He said that the US was “taking hundreds of billions of dollars in tariffs,” but he could not provide a specific figure for revenue because “we don’t even know what the final number is” about tariff rates.
Canada and America have not come to fresh words after the deadline imposed by Trump of 1 August, resulting in 35 percent import tax on some Canadian goods. This rate applies to goods not covered by the Canada-US-Maxico Agreement (CUSMA), which controls trade between the three countries.
Apart from generalized tariffs, Trump also threatens field-specific duties. Importing tax is still coming on medicines and Trump announced 100 percent tariff on computer chips this week. It can leave the American economy in place of suspended animation as it waits for effects.
Trump, including midnight On social mediaHas complained that countries including allies have “availed the United States” in trade for years. But in the case of Canada and Mexico, it was Trump who signed Kusma in his first term.
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Impact is expected to play for months
Trump has continued to promote tariffs as a way to reduce the American trade deficit, although many economists believe that indicators alone do not indicate economic weakness.
Trump’s plans result in signs of self-affected lesions for the American economy, which strengthened from the height of the coronwirus epidemics compared to other G7 countries, with similar inflation pressure.
In general, importers have purchased more goods before tariffs. As a result, $ 582.7 US Arab trade imbalance for the first half of the year was 38 percent higher than 2024. The total construction expenses have fallen by 2.9 percent in the last one year, and the factory jobs promised by Trump have resulted in job damage so far.
“Low productive economy requires less workers,” said John Silvia, CEO of Dynamic Economic Strategy in an analysis note. “But more, high tariff prices are low workers’ actual wages. The economy has become less productive, and firms cannot pay real wages as before. The results of the actions.”
The President’s use of the 1977 law to declare the tariff to implement the tariff is subject to the challenge – and potentially moving to the Supreme Court. The alert decision before the US appeal court can cause Trump to find another legal justification if judges say it is more than its rights.
Nevertheless, the stock market has recently been solid during the tariff drama, in which the S&P 500 index has climbed more than 25 percent of its April. The market rebound and Trump’s tax reduction in income tax and the measures signed in the law on July 4 have assured the White House that it is bound to accelerate economic growth in the coming months.
The final changes of the tariff can play for months, if not the year. Many economists say the risk is that the American economy is constantly disappeared rather than immediately collapse.
Brad Jensen, a professor at the University of Georgetown, said, “We all want it to be made for television where it is an explosion – it is not so.” “It’s going to be fine sand in gear and slowing things.”
Even those who worked with Trump during their first term suspects that things would run smoothly for the economy, such as Paul Ryan, former Republican House Speaker.
Ryan told CNBC on Wednesday, “There is no argument for the President other than the President that the President wanted to raise tariffs on the basis of his whisper.” “I think the tempering water is ahead, because I think they have some legal challenges.”
Slap process
On Thursday, the slap of the lead-up trump’s tariff fit the nature, which has been rolled variously, went back, delay, increased, put by letter and was renovated and renovated franchise. Trump has done framework for a deal, with some specific details available so far in my cases.
For example, India on Wednesday saw Trump that the effective 25 percent tariffs effectively implemented on August 28 for the purchase of Russian oil since the outbreak of war in Ukraine, which led to its total import taxes to 50 percent.
SC Ralhan, president of the Federation of Indian Export Organization, said in a statement, “It is not just feasible to absorb this sudden cost. The margin is already thin.”
Along with cutting deals and crawling the US tariff deadline, CBC’s Elli Glasanar broke the winners and losers in Donald Trump’s radical revival of Donald Trump’s global economy.
India and the United States have five round talks on bilateral trade agreement, but in Trump’s first term there was a Chammi relationship between countries, which have not been able to pay attention to this.
This process has been so bad that the officials for major trade partners were not clear at the beginning of the week whether tariffs would begin on Thursday or Friday. To delay the start of tariff from August 1, the language of 31 July order said that high tax rates will start in seven days.
On Wednesday morning, Kevin Haset, director of the White House National Economic Council, was asked if the new tariffs started at midnight on Thursday, and he said reporters should investigate with the office of the US trade representative.
