The British magazine The Economist seriously criticized Donald Trump’s decision to introduce new imports, calling on April 2 “Destruction Day” (on the initial day of destruction). The publication notes that the US president “made the most serious, destructive and unnecessary economic calculations of the present.”
If you do not notice how America “robbed, united, raped and robbed“ neighboring countries and far abroad, or how they “brutally refuse to prosper”, then we congratulate: you have a stronger connection with reality than the president of the United States, the economist writes.
The authors of the article relate to Trump’s statements, where he justifies a radical change in trade policy. In their opinion, this “brings direct nonsense about the most successful and worshiped economy of the world.”
It is difficult to say that this is more concerned – that the leader of the free world says that such things or the fact that he, controlled by his illusions, has really introduced the largest gap in the US trade policy for more than a hundred years, – adds the economist.
The Ministry of Economics responded to the duties of a new Trump against Ukraine, noting that the situation is “complex, but not critical.”
According to the Ministry of Economics, Ukraine did not encounter additional tariffs such as Moldova (31%) or EU (20%). In total, in 2024, Ukraine exported 874 million US dollars to the United States, and the total import of the United States amounted to $ 3.4 billion.
If everything remains as it is, then the American universal duty will be mainly applied to small manufacturers. Therefore, we are already working to ensure that Ukraine has better conditions. We export more than 600 different categories of goods in the United States, of which 65 products cost more than $ 1 million, ”Sviridenko said.
The recorded, populated islands near Antarctica, inhabited by the penguins, were subjected to Trump’s duties.
The islands of Herd and McDonald are the “external territories” of Australia. They are completely abandoned, and the last people visited them almost 10 years ago.
Nevertheless, the islands are indicated separately in the Australian list of tariffs, which will have 10% of the duty on their goods. The tariffs are surprised because there are fishing on the islands, but there are no buildings or housing for humans.
How did world markets react to the introduction of duties?
The first and most reasonable was the drop in oil prices, which is a signal for the growth of recessive expectations. After Trump, the price of one Brent oil barrel fell by 4%, up to $ 72. The tendency to the fall is stable and has not yet ended. The market awaits further statements.
For us, this is partially good news. Firstly, the income from oil and gas of the Russian Federation will fall, and secondly, oil prices will fall. This will help us compensate for the effect of increasing excise duties on fuel. But the negative factor is that during the recession, prices fall not only for oil, but also for steel and food (with the exception of the crop).
Thus, we can also expect to fall on Ukrainian export.
Asian stock exchanges were the first to blow up responsibilities. Only Japan managed to withdraw its market from the crisis of “lost decades”, since its economy was amazed. Only last week, Nikkei 225 fell by 7%.
The Korean COSPI index did not answer in which way, since even before that he fell by 4% during the week from the introduction of duties against Korean cars.
The Eurozone index has already fallen by 2.8%, since Trump’s duties will be most affected not only by EU car manufacturers, but also by retail groups that include companies for the production and sale of clothes and luxury items.
But the most important intrigue is how much the US market falls.
Source: Racurs
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.