Washington – President Trump on Wednesday announced that the United States will bring a minimum base line 10% Tariffs on goods imported from all foreign countriesas well as above “mutual” tariffs on nations that impose tariffs for US export, despite warnings from economists who ended Increase prices.
The president, which signed the executive order for the tariff, insisted that the US days used “ended”. Mr. Trump mutual tariffs has approximately half the tariffs that these countries impose exports to the United States or less. Countries that will see tariffs above 10%include the European Union, China and Israel.
High administration officials said 10% worldwide tariffs come into force on April 5 at 12:01, and higher mutual tariffs come into force on 9 April at 12:01
“In short, the chronic trade deficit is no longer just an economic, they are an emergency that threatens our safety and our lifestyle,” the President said in a White House announcement of Rose. “And for these reasons, starting tomorrow, the US will carry out mutual tariffs for other countries.”
“For the peoples that treat us, we expect the combined speed of all their tariffs, non-ninth-barriers and other forms of deception, and because we are very good, we are good people, very good,” said Mr. Trump. “You are not so good when you are thwarted … We charge them in about half of what they are and charge us.”
When he spoke, the president proudly continued the schedule, pointing new tariffs
Mark Schiefelbein / AP
Countries that will see “reduced mutual rates”, according to a sheet divided by the White House, include China at a speed of 34%except tariffs that the US already imposes China; 20% on goods from the European Union; 32% in Taiwan; 25% in South Korea and 17% in Israel.
Canada and Mexico are not yet subject to this tariff, said high -ranking administration officials, but the tariffs that the president had already imposed, referring to the questions of Fentonil and migration.
Mr. Trump said the “horrific” trade imbalances hurt the United States and are at risk of national security, blameing the previous presidents of the United States and administrations.
“This is our declaration on economic independence,” the President said in the White House garden. Mr. Trump indicated “Liberation Day” on Wednesday.
The president complained that the United States imported phones and other electronics, as well as pharmaceuticals, saying that if the war is, the US would fight. He said his steps on Wednesday also stand behind American farmers and ranchers who were “tough” by other countries, in particular, exploring Canada.
Mr. Trump said Americans “subsidize” many other countries, calling on the European Union, China, South Korea and Australia for their trading practice.
“They took so much wealth from us,” Mr. Trump said about other countries.
The president said he was expecting complaints from “globalists”, “outsorkers”, “special interests” and “fake news” in the following days, but insisted that these groups were mistaken in trade.
“In the first term, they said that the tariffs would gather the economy,” Mr. Trump said. “Instead, we have created the greatest economy in the history of the world.”
In the audience for announcement of the president were steel workers and highways, speakers of the House of Representatives, Mike Johnson, as well as most Mr. Trump's office, including JD Vance Vice President.
What new tariffs have Trump announced today?
White House
The president states that his plan will place a minimum base line in 10% tariffs for all countries, and mutual tariffs on numerous trades with their own tariffs located in the US, 25% of the tariffs that the president previously announced on foreign cars and foreign auto parts.
The White House official stated that mutual tariffs are supplements, that is, they will be imposed in addition to any previous tariffs that were already in place if the specific good is not exempt in accordance with Section 232 of the Law on Tariffs, which carries a flat 25% on certain things such as steel and aluminum.
Here are some tariff rates that Mr Trump announced:
- China – 34%
- European Union – 20%
- Taiwan – 32%
- South Korea – 25%
- India – 26%
- Israel – 17%
- Nicaragua – 18%
- Norway – 15%
- Jordan – 20%
Countries that will see only basic tariff rates include: Guatemala, Honduras, Argentina, Salvador, Ecuador, Egypt, Saudi Arabia, Australia and UK.
CBS NEWS
Sean Fein, President United Auto Workers, Told CBS News “” Face of the Nation with Margaret Brennan “ Sunday tariffs – One tool to force the company to return to the US
“Tariffs are the tool in the toolbar to force these companies to do the right things, and the intention to return work here,” Finin said. “And, you know, invest in American workers. The American working class remained behind for decades, and they got sick.”
Which tariffs is true?
Tariffs – these are the responsibilities paid by the goods imported in the USA The most common type of tariffs are tariffs on Valorem Ad (Latin for “depending on the value”), which are a fixed percentage of the product value. 25% automatic tariffs are such types of tariffs.
There are also “specific” tariffs that are charged as a fixed charge and “tariff rate quotas” that caused by reached a certain threshold of imports.
What do financial experts say about tariffs?
Economists and advocacy groups of taxpayers raise their doubts, and warning tariffs can upset economic growth and almost certainly contribute to higher cost for US consumers. Some automakers Already announced higher prices for the car after the president announced tariffs for foreign cars and spare parts.
More than a dozen Leaders at Thinks and Taxpayer Advocacy Groups, Including at the National Taxpayers Union, The Taxpayers Protection Alliance, The Small Business & Entrepr. Tuesday Sent a Joint Letter to Congressional Leaders and the Commerce and Treasury Secretaries, urging them to consider how tariffs on steel, lumber, energy, pharmaceutical and medical supplies and cars and car.
“We recommend that you consider whether in many cases the tariffs to undermine the broader long -term economic goals of President Trump, increasing the cost of goods subject to tariffs,” ” They wrote. “We are particularly concerned about the tariffs on the materials needed by American manufacturers that make it difficult to compete with finished products made abroad and tariffs that increase the price such as food and housing.”
Alex Jacques, who worked at the White House National Economic Council, said that although it is difficult to find out about the exact impact of Mr. Trump's tariffs without knowing all the details, the executives say that they will go for prices to investors and shareholders.
“What large retailers and companies plan to affect tariffs and they plan to publicly convey to consumers these costs as much as they can,” – said on a call with journalists Jacquets, who has now been the chief of politics and occupational safety propaganda.
Colin Hrabau, Deputy Director of the Libertarian Trade Policy Center of Katona, Herbert A. Stifel, wrote In the US today is that “tariffs is an expensive and ineffective tax that usually carries the customer of the country.”
“The Americans may have voted for lower prices in November, but under the guise of tariff reciprocity, the Trump administration should provide something completely different,” Gapov wrote.
On Tuesday, the reporter asked Levit if the president thinks about the elderly on fixed profits, which emphasize the recent swings in the stock market, partly attributed to the president's tariffs. Stocks fought As the Wall -Restitis adjacent to the next round of tariffs.
“Well, of course, these are legal problems, and the president is very serious about these problems,” Levita said. “And he addresses them every day. And tomorrow's announcement is to protect the future generations of elderly citizens you mentioned. This is for your children and your grandchildren to ensure that the US has jobs in the US to live in the American dream.”
And the president told NBC News that “he cannot care” when his tariffs lead to automakers raising prices.
“I would like it if they raise prices because people will start buying American cars,” he said NBC.
and
He contributed to this report.