World trade
Trump speaks of implementation of the punitive tariffs from July
According to US President Trump, the import of goods to the USA will become more expensive. The next stage of his tariffs should come in July.
According to President Donald Trump, the most recently exposed punitive tariffs for almost all of the USA should come in July. Currently, trade agreements are being negotiated or concluded with some countries, but others would soon get a letter with the amount of the tariffs valid for their imports in the future, Trump said in the White House in front of journalists. The United States would simply tell them “what they have to pay to do business in the United States”.
Trump had announced the new – and sometimes very high – tariffs for imports from many countries in spring, but initially exposed to them for 90 days after massive faults on the stock exchanges and financial markets, which would correspond to a period until 9 July. Various important trading partners, including the European Union, negotiate with the United States to agree on new agreements and avoid the high tariffs.
When asked whether the tariffs would be automatically put into force on July 9, Trump said “No”. The United States is not tied to the deadline, it could be extended or shortened.
According to a statement by Finance Minister Scott Bessent, the early entry of the new tariffs for all countries did not seem to be carved into stone in July. Bessent told the US broadcaster Fox Business just a few hours before Trump’s press conference, it could be that some negotiations last until the beginning of September.
Imports to the United States are more expensive due to higher tariffs. Trump hopes that US products will become more competitive and that more production will come back to the USA. However, the tariffs should also lead to higher prices for consumers in the USA – which Trump denies.
dpa
Source: Stern
