The new surcharge, pride of Donald Trump, entered into force at 5 am and a minute this Thursday morning. They replace, for the savings concerned, that of 10 % applied since April to almost all the products entering the United States.
According to the American president, it is a question of rebalancing the exchanges between the United States and its partners, which “benefit” from the first economic power.
“It is midnight !!! Billions of dollars in customs duties are now flocking to the United States of America, “he built on his social social network a few minutes after the deadline.
The main economic partners of the United States taxed
These new customs duties are in a large range, between 15 % and 41 %. The European Union (EU), Japan or South Korea, which are among the main trade partners of the United States, are now affected by a rate of at least 15 %.
Before the entry into force of these new taxes, the average effective rate applied to products entering the country was 18.4 %, the highest since 1933, according to the LAB budget research center of Yale University.
This additional increase should bring this rate to almost 20 %, according to analysts from Pantheon Macroeconomics. This would make it the highest since the early 1930s, according to the LAB budget.
Towards 100 % taxes
And new announcements should follow, since the tenant of the White House also wishes to tax imported pharmaceuticals and semiconductors. The latter, as well as the chips, should be applied a 100 %tax, he said on Wednesday, without further details.
All our articles on customs duties
Some countries, like Switzerland, have tried until the last moment to develop the rate affected by them, the Confederation sending its president, Karin Keller-Sutter, and his Minister of Economy, Guy Parmelin to Washington.
For the time being, while the American government assured that “dozens of agreements” would be signed in recent months, just seven have materialized, especially those with the European Union, Japan or the United Kingdom. They are most often pre-academic, to be formalized, accompanied by promises of massive investments in the United States on the part of the countries or blocks concerned.
Between exemption and firmness
Rare exception, Mexico has escaped new increases. On the other hand, the time is not for relaxation with Canada, which saw on August 1 increase the surcharge applied to its products, to 35 %. The Trump administration is particularly firm with certain countries.
Donald Trump thus signed a decree imposing 50 % of customs surcharge last week in Brazil, which came into force on Wednesday. Again, the many exceptions make that less than 35 % of the products are affected, according to Brasilia.
India must deal with customs duties of 25 %, which will spend in three weeks to 50 % over a certain number of products, Donald Trump accusing New Delhi the lack of opening of his economy and his Russian oil purchases under sanction.
