Washington: President Donald Trump said on Wednesday that he would impose a 10% reference rate on all imports in the United States and higher tasks on some of the country’s largest business partners, in a decision that degenerates a trade war which he initiated when he returned to the White House.
Radical tasks would create new barriers in the largest consumption economy in the world, reversing decades of commercial liberalization that have shaped the world’s order. Trade partners should respond with their own countermeasures, which could lead to highly higher prices for everything, wine bikes.
“This is our declaration of independence,” said Trump at an event in the Garden Rose in the White House.
Trump posted a poster lists reciprocal prices, including 34% on China and 20% on the European Union, in response to the tasks imposed on American goods.
Other details were not immediately clear because Trump continued to make remarks that have echoed his longtime complaints that workers and US companies are injured by world trade.
Uncertainty has unstable financial markets and companies that rely on the trade agreements in place since 1947.
The administration said that the new prices will take effect immediately after Trump announced them, although the official opinion required for the application has not yet been published.
However, the administration has published an official opinion confirming that a separate set of prices on automotive imports, announced by Trump last week, will take effect from April 3.
Trump has already imposed 20% rights on all imports from China and 25% duties on steel and aluminum, extending to nearly $ 150 billion in downstream products.
His advisers argue that prices will restore strategically vital manufacturing capacities in the United States.
External economists have warned that prices could slow the global economy, increase the risk of recession and increase the cost of living for the average American family by thousands of dollars. Companies have expressed concerns that Trump’s continuous pricing threats have made it difficult to plan their operations.
Price concerns have already slowed the manufacturing activity around the world while leading to an increase in automotive and other sales of imported products, while consumers rush before purchasing prices.
