USA announce “reciprocal tariffs” on imports
The US president announced on Tuesday the imposition of « reciprocal tariffs » on imports, including 25% on all foreign cars.
25% tariffs on foreign cars, which will largely affect European Union countries, will come into force from midnight today, Donald Trump said in an announcement in the White House garden.
With the president were the vice president and the main members of the government, including the secretaries of state and defense.
Before signing the executive order by establishing the reciprocity of tariffs, Trump presented the measure as a defense of US industrial production.
Economic and financial experts have warned of the impacts of increasing tariffs on US inflation and global trade.
Trump’s announcement was made after the closing of US scholarships, which ended high.
The imposition of tariffs was nicknamed by the president of “Liberation Day”, after Donald Trump announced in recent months increases of 25% of customs rights on steel, aluminum, cars and car parts.
There is also a 10% base tariff for all countries in all imports. This is a lower value than the 25% that has been admitted in recent weeks, in a possible global rate-but the 10% are just a base tariff to which other charges can be added.
Using a frame with a ranking From countries and their rates, Trump announced that when it comes to the European Union, that « they seem very nice, but they steal us to the blatant, » they charge us 39%, we will charge them 20%.
For China, it will be 34%, 32% for Taiwan, 10% for the United Kingdom and Brazil, 30% for South Africa and 24% for Japan.
Vietnam will have one of the highest rates: 46%. Cambodja is even more: 49%.
« We are being very generous, we are very generous people. Anyone who wants to avoid paying the tariffs has good medicine: open your factory here in the US and pay zero, » said Trump.
Trump also blamed the former presidents, who « let this happen. Our workers have suffered terrible attacks. I give you an example, we charge 2.4% tariffs in importing motorcycles, but our bikes in Thailand, Vietname, India and other countries pay 60% and 70% tariffs. »
