Trump’s duties are coming, China will pay 104%
Today is the day at midnight (7am Bulgarian time), additional US duties on almost everything for nearly 60 countries, including Bulgaria, come into force. The rates continue to grow, with those for China from April 9 reaching 104%.
This happens at a time when a Reuters survey of the last three days of last week showed that according to 73% of participants, prices for their daily purchases will rise in the next 6 months.
EU will introduce the first retaliation duties of US imports from Monday
President Donald Trump said the United States was getting $ 2 billion a day from myth (but without giving details who and how it calculated), while for a week, the losses on the world exceeded 14 trillion. dollars. Petroleum, a major source of budget revenue for Russia and the Gulf countries, fell to $ 62 a Brent barrel with supplies in June, several US banks predict $ 58 for the end of the year, and at the end of 2026 – $ 55 or even a bad $ 40 scenario.
After the shares collapsed at the fastest pace of the pandemic in recent days, investors showed some signs of hope yesterday at the beginning of the day that President Donald Trump would soften his position or postpone the deadline. But White House press secretary Caroly Leevit said in the afternoon that the president expects the duties to come into force even though nearly 70 countries have contacted the United States to start negotiations.
Talks have been planned with South Korea and Japan, two close allies and major US US, and Italian Prime Minister Georgia Meloni is due to visit Washington next week.
- However, China declined to bow to what he called « extortion » and promised to « fight » to the end. Representatives of the Trump administration said they would not prioritize negotiations with economic power number 2 in the world. Beijing is preparing for a war of exhaustion, and manufacturers warn of unrealized profits and are trying to plan new factories abroad. Referring to increasing external risks, CITI reduced its prognosis for China’s GDP GDP in 2025 to 4.2% of 4.7%.
- The European Commission is considering a counter -duties of 25% on a number of US goods, including soy, nuts and sausages, although other potential items such as bourbon whiskey have been left out of the list. Today, the list should be approved at the ambassadors level of Member States, although officials said they were ready to negotiate with the Trump team. There are already duties on cars and metals, a 20% rate on many other products is coming into force today, and the president has threatened to include alcoholic beverages in the EU.
European pharmaceutical companies, which are also afraid of the consequences of duties, have warned European Commission President Ursula von der Layen at a meeting that Trump’s duties will accelerate the displacement of the industry from Europe to the United States.
US Foreign Trade Minister Jamison Greer said on Tuesday to US senators that the administration would not change duties tactics in the near future and warned that some business difficulties would be needed to return jobs to production.
« The president was clear that he would not make exceptions or exceptions or subtract certain goods and services from the new regime in the near future, » Greer said. The past liberations have created an approach such as « Swiss cheese » – full of holes that failed to slow down the growth of the US trade deficit of 1.2 trillion. dollars a year, he added.
Concerns that US aggressive duties can stimulate inflation and interfere with global growth have led to higher prices and expectations for reducing interest rates from the Federal Reserve. Traders forecast more than 90 basic points of ease by December, which implies three reductions of a 25 and 60% chance of a fourth such reduction, according to LSEG data.
US clothing traders have announced that they are slowing down orders and postponing employment. Sneakers made in Vietnam, which are now sold at $ 155, will cost $ 220 when Trump’s 46% duty for this country came into force, according to an industrial group.
Users stock up as long as they can. « I buy double from anything – beans, canned food, flour, whatever it is, » 53 -year -old Thomas Jennings told Reuters as he pushes a shopping cart on the paths of New Jersey.
It is expected that clothing will rise in the United States by an average of 37%, and consumer electronics such as laptops, smartphones and game consoles – by 27-33%.
