The president of the United States, Donald Trump, He announced plans to impose generalized tariffs on Wednesday, claiming that “our country has been looted, caught, violated, plundered” by other nations. For Argentina they will be 10%, and is among the least affected.
During his speech, Trump detailed the list of affected countries and the new tariffs applied. Among the most prominent cases are:
US tariffs: Donald Trump’s announcement
“Taxpayers have been scammed for more than 50 years,” Trump said in statements in the White House. “But that will no longer happen.”
The president has promised that manufacturing jobs will return to the United States as a result of taxes, but their policies run the risk of causing sudden economic slowdown, since consumers and companies could face strong price increases in cars, clothing and other goods.
Tariffs are added to other similar tax ads of 25% on car imports; Gravations against China, Canada and Mexico, and extended tariffs on steel and aluminum. Trump has also imposed tariffs against countries that import oil from Venezuela and plan separate import taxes on medicines, wood, copper and computer chips.
Impact of Trump tariffs on the economy
None of the warning signals on a stall market in minced or that the feeling of the consumer has become gloomy has made the government publicly doubt its strategy.
The White House commercial advisor, Peter Navarro, has indicated that the new tariffs will raise $ 600,000 million annually, which would be the largest tax increase since World War II. The United States Secretary of the Treasury, Scott Besent, told legislators that tariffs would be limited and could be negotiated downward by other countries, according to the office of the representative Kevin Hern.
It is almost certain that importers transfer part of the cost of taxes to consumers. The Yale University Budget Laboratory estimates that a 20% universal tariff would cost to the average home between $ 3,400 and $ 4,200.
The premise of the Republican Government is that manufacturers will quickly increase national production and create new jobs in factories.
Most of the analyzes see an economy locked by higher prices and stagnation. The economic growth of the United States, measured by the gross domestic product, would be approximately a lower percentage point, and clothing, oil, cars, housing, edible and even insurance would cost more, according to the analysis of the budget laboratory.
Traditional business partners are preparing their own countermeasures. Canada has already imposed some in response to the 25% tariffs that Trump linked to fentanyl traffic. In response to tariffs on steel and aluminum, the EU imposed tariffs on US goods worth 26,000 million euros (US 28,000 million dollars), including bourbon, which led Trump to threaten a 200% tariff on European alcohol.
Many allies feel that they have been dragged into a confrontation by Trump, who routinely says that friends and enemies have basically cheated the United States with a mixture of tariffs and other commercial barriers.
The other face of the currency, of course, is that Americans also have income to choose from French fashion house designer dresses and cars from German manufacturers, while World Bank data shows that the EU has lower per capita income than the United States.
“Europe has not started this confrontation,” said the president of the European Commission, Ursula von der Leyen. “We do not necessarily want to retaliate, but, if necessary, we have a solid plan to retaliate and use it.”
The Prime Minister of Italy, Giorgia Meloni, repeated on Wednesday her call to avoid a commercial war between the EU and the United States, noting that she would affect the two parties and would have “strong” consequences for the economy of their country.
Source: Ambito
