Furthermore,
Customs duties united states: 39% new:
Almost four months after being announced by Donald Trump. In addition, the customs duties which he describes as “reciprocal” must come into force on Friday, with the key to a strong increase for most products entering the United States.
As of August 1. For example, a certain number of surcharge must be applied to most of the trade partners of the United States, some, some, sectoral, very heavy, like the 50% planned on copper. Moreover, And this time, after two breaks, no new postponement.
“Everything will be done on Friday,” assured the secretary of commerce, Howard Lungick. Meanwhile, “August 1 is the day we set up these rates and they will no longer be subject to discussion afterwards.”
Unknown rate in Switzerland – Customs duties united states: 39% new
For around 80 countries. For example, including the 27 of the European Union (EU), the customs duties applied to customs duties united states: 39% new their products should therefore increase on Friday, to be between 11% and 50%, depending on the origin of the products. Moreover, In Switzerland, rates were still not known Thursday morning.
The EU. Japan, South Korea, the United Kingdom, Vietnam, Indonesia and the Philippines agreed with the White House, with the key to lower surcharges than those initially announced.
European products should therefore be taxed up to 15%. compared to 20%scheduled for early April by the US administration, after even being threatened for 30%.
However. with only seven agreements announced, most often an executive of upcoming negotiations rather than a real trade agreement, the White House is very far from the “tens of agreements” which it claimed to be able to sign during the 90 -day break in early June.
Impact on the economy
Brazil should be the most affected. with 50% surcharge in retaliation for the prosecution engaged against his customs duties united states: 39% new ex-president Jair Bolsonaro, accused of an attempted coup after his defeat in the 2022 presidential election, a “witch hunt”, according to his ally Donald Trump.
The tenant of the White House signed a decree in this sense on Wednesday, effective from August 6.
He also signed a “proclamation”. bringing customs duties to 50% on copper as of Friday, but on a range of copper products that are more wide than a time feared by professionals.
The American president said on Thursday that Canada’s decision to recognize Palestine as a state in September would make. “very difficult” any future trade agreement. The negotiations. suspended in June following the establishment by Ottawa of a tax on digital services, took place in a tense diplomatic climate, supplied in particular by its provocative remarks on Canada as potential “51st American state”.
Restless economists
The impact of customs duties continues to worry economists. who see customs duties united states: 39% new them weighing not only on inflation but also on American growth.
According to the LAB budget of the University of Yale. average customs duties are on July 30 at more than 18%, at the highest since 1933, and could still increase the new effective taxes once.
Their effect is already being felt on American growth: certainly the latter rebounded in the second quarter but it is a trompe-l’oeil performance for most analysts. who emphasize that the expansion on the first semester has slowed down, around 1.3% in annualized pace.
A trend that should be confirmed on the rest of the year because “customs duties are gradually nibbling the activity. ” said the nationwide economist chef Kathy Bostjancic, in a note.
For Samuel Tombs, by Pantheon Macroeconomics, growth for the second half should even be less than 1%, in annualized pace.
As for inflation, the Economy Professor of the University of customs duties united states: 39% new Havard, Jason Furman, expects to see her go up around 3%.
What encourage the federal reserve (Fed) to prudence, to the chagrin of Donald Trump. On Wednesday. the American central bank maintained its unchanged rates and its boss, Jerome Powell, seemed to grow further the possibility of a future decline.
This article was published automatically. Sources: ATS / AFP
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