After a few weeks, he pounded on Canada and Mexico, Donald Trump noticed on Wednesday to a completely new goal: the rest of the Planet Earth.
The US President expanded his trade war, imposing the widest set of tariffs in generations, effectively resetting the post -war trading system.
The only good news for Canada, as it is, is that when Trump was swinging quickly and furiously with new tariffs, it did not require new nodules.
The good news ends.
The bad news is that the previously announced tariffs will remain: potentially Destructive car tariffs These are copies on Thursday, steel and aluminum tariffs in the amount of 25 percent, 10 percent per energy and potash and 25 percent for some other goods.
For Trump it was Kodak's personal moment.
After displaying the chart listed to various tariffs, some countries will be charged – Canada and Mexico were not on the chart – US President Donald Trump said that there will be a 10 % “minimum basic line” for goods from foreign countries.
Standing on the lawn in the White House, he called the culmination of his old sleep, taking into account his decade as a colored protectionist in wool.
“I've been talking about it for 40 years,” said Trump.
“If you look at my old speeches, when I was young, very handsome, in my old speeches … I am talking about how we were cheated by these countries.”
He added: “It's an honor to finally do it.”
And by “this” he meant imposing tariffs from 10 percent to a stunning 50 percent to some countries-by struggling not only markets, but potentially leveled the geopolitical map of the planet, with the American resigned from this hemisphere.
Asia, in Latin America in
We will see which countries, if at all, negotiate a better offer. But the initial pattern is clear: Trump turned the tables in Asia.
Where the US cultivated allies against China, trading partners are currently in the face of 46 percent (Vietnam) tariffs, 49 percent (Cambodia), 24 percent (Japan), 32 percent (Taiwan), 26 percent (India) and 37 percent (Bangladesh). China also received a 34 % tariff.
Everyone who sells clothing or electronics in the US now has some incentive to change production to Latin America, where the tariffs are mainly 10 percent.
“I think there are huge geopolitical implications,” said Chad Bown, an expert on trade at the Peterson Institute in Washington and the former economist of the Biden State Department.
But he added an important reservation.
There is such an uncertainty as to how long these tariffs will last, and the redesign of supply chains takes time, so it is not clear whether everyone can take long -term investment assumptions based on Wednesday numbers.
Also the elements of the plan seemed hurriedly hit together. The Trump list included several people who are not landscapes, such as the unprofessional listened and McDonald Islands, the sterile archipelago of Antarctica belonging to Australia, which is currently in the face of a 10 % tariff.
Having said, waves of uncertainty certainly wave through Canada. And in Canada he does not risk that it is not more difficult than a car.
Canada is in the face of pain
Tariff tangle is to apply on the largest product produced in Canada – up to 25 percent on fully assembled vehicles and some parts, while other parts do not encounter any.
Southern car employee in Ontario says that his colleagues are now afraid to make large purchases, fearing dismissals.
“It will be hell,” said Jayson Mercier CBC News. “Here again, like (economic crisis) 2008 – where we do not know if we will have a job.”
One of the Canadian American commercial consultants claims that Canada was doing better than most countries in Wednesday's advertisement. He added that this is cold comfort for some sectors.
“Autos will have a huge impact on Canada,” said Eric Miller, the head of Consultant Rideau Potomac in Washington, born in Canada.
“This is a huge pain for Canada. And you will see huge restructuring and equalization in the car sector in North America.”
Prime Minister Mark Carney, speaking on Wednesday from parliament, says that Canada will act with “goal and strength” to fight new US tariffs. President Donald Trump hit new 25 % tariffs on foreign cars, but Canada was saved by 10 % of the basic tariffs used to many other countries.
One industry player placed it even more directly in the post on social media. He predicted the industry's rethinking within a few days, not just in Canada.
“The. Auto. Tariff. Package to close. Down.
“Do not distract.
Some goods listed on the basis of the provisions of the Canada-Usexico agreement have no tariffs, according to Trump's exceptions announced weeks ago.
Estimates vary depending on the number of goods to meet responsibilities, but it seems that most of Canada exports to the USA actually faces tariffs.
“At the moment I am not sure if anyone knows (exact percentage),” said Bown.
In Washington, the tariff opponents fell on Trump's great moment.
When he began to speak, the US Senate led by Republicans began hours of debate on mainly symbolic voting to reject its tariffs to Canada.
Some members of Trump's own party voted with democrats in a sample without hop to cancel the first portion of Canada tariffs. This is a convicted effort, even though the Senate has passed, 51-48. The house is not planning to take it, and Trump vetoed him anyway.
But this was to provide the political Trump of the black eye on the day he announced his tariffs, and those in Canada are particularly unpopular, according to polls.
The first speaker was Rand Paul, Senator Kentucky, who was one of the few Republicans supporting this measure.
He broke the belt from Trump's actions – calling them “crazy”.
Paul ridiculed the idea of Trump that Canada represents a threat to national security due to fentanyl trade. He said that more fentanyl came from the USA than in a different way, called Canada a valuable trade partner, and said that Trump would increase costs for Americans.
In addition, the legislator based on libertarian generally blew up this idea.
He said that there is almost a thousand years of tradition, returning to Magna Carta, through the American revolution that legislation should be a approval of a new tax-not only one leader.
This is what opponents call Trump's plan: the greatest sudden tax increase in America's history.
“Tax without representation is tyranny,” said Paul. “Conservatives understood that tariffs were taxes from the American people.”
He added: “What happened? Did we suddenly give up all the things we believed in?”
Recently, there is no higher authority for Republicans than Trump. They could stop it if they wanted to, through Congress.
He plays a constitutional role in international trade, but for decades Congress has written several provisions that give the president new rights to apply tariffs by announcing an emergency.
In this way, no one used this power. Not so far. Now Trump uses this power in an unprecedented way.