Donald Trump fulfilled the main election promise and raised taxes in the United States for foreign goods.
US president Donald Trump on March 2 introduced new duties, claiming that they would allow the United States to prosper the economy. These import taxes cause economic shocks both in the USA and around the world, but the American leader believes it is necessary to eliminate trading imbalance and protect jobs and work in states.
Main tariffs
Trump introduced the So -called “Basic” fee for all imports in the United States. This rate is set to 10% and will enter the force on April 5. These are the companies that import foreign goods in the United States who should pay taxes to the government, though it may have consequences for consumers.
For some countries, only the base rate will operate. These include: Great Britain, Singapore, Brazil, Australia, New Zealand, Türkiye, Colombia, Argentina, Salvador, United Arab Emirates and Saudi Arabia.
Duty for “violators”
The United States also introduced what they described as specific tariffs on one another, for about 60 “worst violations.” They will enter the force on April 9.
Trump officials said these countries would charge the highest tariffs for American merchandise, set “non -tariff” barriers to US trade or otherwise act in a different way that, in their opinion, disturbed American economic desires.
The main trading partners distributed by individual tariff rates include: European Union: 20%, China: 54%(considered past tariffs), Vietnam: 46%, Thailand: 36%, Japan: 24%, Cambodia: 49%, South Africa: 30%and Taiwan: 32%.
In addition, Trump signed another command that closed a trading loophole known as “de Minimis”, which allowed low costs from China and Hong Kong to import the United States without duties. Now all products sent through a postal network with a value of up to $ 800 will be taxed at a cost of 30% of the cost or $ 25 per unit, and after June 1 this rate will increase to $ 50 per unit.
No additional tariffs for Canada and Mexico
The basic rate of 10% does not apply to Canada and Mexico, because they, as Trump says, is not its target.
The White House said he would conduct business in these countries, using previous Trump commands that introduced duties for both countries within the administration’s framework to resolve fentanyl issues in the United States.
In the past, Trump set these tariffs at a level of 25% for all goods originating in both countries.
Ukraine and Russia
The new tariff for Ukraine will be 10% – the minimum base rate, but Russia is not on the list.
The United States Immoder finance minister in an interview with Fox News explained that the Russian Federation was not included in the list of countries with respect to which roles were introduced, because “the United States is not trading in Russia.” He noted that penalties in the US are currently operating in relation to Moscow.
25% duty for importing cars
In addition, the US president confirmed the beginning of the new American “25% of the tariff for all foreign cars.” This tariff began to work almost immediately, at midnight at the local time.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.