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Trade war | negotiations continue:
(Washington) of the countries continue to negotiate with Washington on Thursday in the hope of reducing the impact of massive surcharge now imposed on their products by Donald Trump. However, who intends to reshape international trade for the benefit of the United States. However,
Posted at 0.34 a.m. Updated at 12:04 p.m.
What to know
- New American customs duties trade war | negotiations continue on products from dozens of countries entered into force Thursday at 0:01;
- These surcharges are in a large fork, between 15 % and 41 %;
- These customs duties replace those of 10 % applied since avrils on almost all products entering the United States;
- In the absence of agreement, Canada is sentenced to 35 % customs duties on products that are not covered by the trade agreement between Canada, the United States and Mexico (ACEUM);
- Only seven agreements were concluded with the United States, notably by the European Union, Japan and the United Kingdom.
Applied since 0:01 (01 hour from the East) these surcharges replace. In addition, for the main trade partners of the United States, the customs duties of 10 % implemented in April, which however remain in force for more than a hundred countries. For example, trade war | negotiations continue
The purpose. Meanwhile, according to the American president, is to rebalance the exchanges between the United States and their partners, who “benefit” from the world’s leading economic power. For example,
“It is midnight!” ! Consequently, ! Meanwhile, Billions of dollars in customs duties are now flocking to the United States of America. Furthermore, “he built on his social social network a few minutes after the deadline. Furthermore,
TRUTH Social screenshot
These surcharges are in a large fork, between 15 % and 41 %. For example,
Among the partners targeted by the highest trade war | negotiations continue rates. For example, Switzerland has always been trying in recent days to negotiate with Washington, in the hope of lowering the surcharge by 39 % now applied to Swiss products.
PHOTO JONATHAN ERNST. ARCHIVES REUTERS
US President Donald Trump
As a sign of good will, Bern announced Thursday not to consider “for the moment” of reprisals on American products.
Trade war | negotiations continue
Other upcoming surcharge
The South African government has announced that President Cyril Ramaphosa had met on Wednesday with his American counterpart. Pretoria assuring that “the two leaders have committed to continue trade war | negotiations continue their discussions”.
South Africa is the country in sub -Saharan Africa the hardest targeted. with additional customs duties of 30 % now imposed on its exports.
Before the entry into force of these new taxes. the average effective rate applied to products entering the United States was already 18.4 %, the highest since 1933, according to the LAB budget research center of Yale University.
This rate should now stand at almost 20 %, according to analysts from Pantheon Macroeconomics.
And new announcements are expected, 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.
Wall Street nevertheless did not seem particularly worried before this new stage. the indices on the New York Stock Exchange opening up on Thursday, following the trend observed in European markets.
Expected economic impact
Investors believe that the entry into force of these customs rights provides more certainties. observe that a number of exceptions have been added, depending on the country, reducing the amplitude of surcharges.
For the time being. while the US government assured that “dozens of agreements” would be signed in recent months, just seven have been announced, notably with the EU, Japan or the United Kingdom.
They are most often pre-academic, which is still formalized, accompanied by promises of massive investments in the United States.
A sign trade war | negotiations continue that everything does not seem finalized yet. Tokyo and Washington made a different reading in recent hours on the way in which the 15 % is now applied to Japanese products. Japan sees it as a ceiling (if the previous customs duties were less than 15 %). while the United States pointed out that they were added to pre-existing taxes.
The truce in the trade war with China also remains in force. the first two world economies having granted last month on the maintenance of a price break in order to continue their negotiations: additional American customs duties on Chinese products are temporarily fixed at 30 %, while Chinese taxes on American imports remain at 10 %.
Scheduled to expire on August 12. the truce should be extended “an additional 90 days”, said on Fox Business the Secretary trade war | negotiations continue of Commerce Howard Lutnick, “it’s my feeling”.
President Trump praised the merits of the agreements already concluded, which inflates the public revenues of a largely indebted economy.
According to Howard Lutnick, surcharge should bring in the United States $ 50 billion each month. “These are incredible figures. And no one retaliates, ”he praised.
The impact of these import taxes. however, continues to worry economists, who see them inflation and slow growth in the United States, with employment effects.
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