New York
CNN
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Despite the financial market, the threat of retaliation and some of the largest supporters of President Donald Trump, he did not encourage him to withdraw his signature economic policy. He was accumulated in a new “mutual” tariff on dozens of US allies and enemies on Wednesday.
The biggest goal of China in China is that more than 104% of tariffs are applied. Trump had a much higher tariff than the first announcement when Beijing did not withdraw his promise to impose a 34%retaliation tariff on Tuesday.
The mutual rate, which is not mutual, was calculated by dividing the US trade deficit into exports to the United States and multiplied by 1/2. They vary from 11%to 50%. Other top trading partners in the United States, which banned Mexico and Canada, were rarely saved in this round. europe
This new fee has been a few days since Trump has imposed 10%universal tariffs on imports of all countries except Mexico and Canada. (10% of the countries in the mutual tariff list are not 10%. For example, Japan’s tariff rate has increased by 14% because 10% were already imposed on Wednesdays on Wednesday.)
Trump has been torn for more than 50 years by our country and taxpayers last week. But it won’t happen anymore.
A few hours before the tariff came into effect on Tuesday, Trump had a similar opinion, and other countries, especially China, added, “Honestly killed us.”
Now Americans and people around the world are going to pay a steep price. Import companies that are not targeted by Trump countries will pay tariffs, which are often delivered to wholesalers, retailers and ultimately to consumers. However, overseas businesses will not be applicable, and Americans are likely to supply products in countries with low tariff rates.
Ultimately, Trump’s tariffs threaten to expand the global trade war. On Wednesday, China’s Foreign Ministry promised to take “firm and effective measures” to protect rights and interests, even if we do not have to announce immediate retaliation.
The recession in the spotlight and deer shoes
Since April 2, after the “Liberation Day”, a few trillion dollars disappeared in the market value of the US stock, and the global economic downturn has increased.
JPMORGAN raised the possibility of a global recession from 40%last week when Trump made a full plan he had prepared.
Bank economists said in a note last week, “Since the Trump administration began, tariff hiking is the largest tax increase in the United States in almost 60 years.” “This will have a direct ripple effect on furniture and business expenditures and ripple effects through slide and supply chain of retaliation, business sentiment.”
The non -party tax foundation said Trump’s tariffs would pay at least $ 2,100 on average.
Trump has been busy since returning to the White House. Prior to last week, he announced 20%tariffs on all Chinese imports and 25%tariffs on all steel, aluminum and automotive imports.
Meanwhile, Goldman Sachs has raised 45%forecasts for the US economic downturn over the next 12 months. In a note titled “Countdown on the recession,” bank economists said, “The White House first expected a slight expansion after the initial announcement of more aggressive tariffs.
Brian Bethune, a professor of economics at Boston College, predicted that the US economy would be in recession by the second quarter of this year. Targets can ignite the scenario, stacflation, when economic growth is significantly reduced and inflation is heated.
CNN said, “The probability of stainflation is 100%.
But not everyone predicts the recession. Morgan Stanley analysts said on Tuesday that the United States will avoid the economic downturn. Because they have ultimately believed that negotiations with the nations will attack the transactions to lower their tariffs. And Trump’s chief trade adviser, Peter Navarro, told Fox News that the US economy would not fall into the recession.
Despite the dozens of countries that suggest negotiations, it is not clear that transactions can be solved at all. Trump and his executive members said that it is more important than tariffs to consider non -jointed trade barriers, including monetary manipulation, unfair tax policies and the use of sweatshot labor. That’s why they have refused to propose a proposal from several countries to set the tariffs on US products in return for the same treatment and in return.
Trump’s tariffs have done the most difficult work of China, the second largest economy in the world. Beijing is now one -on -one with the United States, a larger competitor in a full -fledged trade war.
According to PeterSon International Economics Analysis, after Trump’s first term, the United States claimed an average tariff rate of 19.3%for Chinese products. The BIDEN administration has maintained most Trump tariffs in place, adding other people to raise the average rate to 20.8%.
China and the United States have benefited from decades of trade. But since Trump’s first term, the United States has previously found other countries imported from China.
Mexico was the best beneficiary of overtaking China to become the best source of imports in the United States in 2023, which was maintained last year. Some Asian countries, including Vietnam, Korea, and Taiwan, have also seen trade trends in the US since Trump’s first term.
It does not say that 104%of tariffs on Chinese products are not important. According to the US commerce data, China was still the second largest foreign product, even though the existing tariffs were in place.
In 2024, China ships a total of $ 440 billion worth of goods to the United States, and the United States exported $ 14.4 billion worth of products to China. This country also remained the best foreign source of various items.
Mutual tariffs are threatened to harm the domestic industry and are ready to lead to dismissal.
If Trump canceled his tariffs, if he did not swear repeatedly, CALIN Grabow, the deputy director of CATO Institute’s Herbert A. Stiefel Center for Trade Policy Studies, told CNN to CNN.
“Trump’s actions have greatly hurt the reliability of the United States by violating the long -term free trade agreement with the US trading partner, as well as the harsh justification of tariffs,” he said. “Companies need some certainty, and Trump’s chaotic approach does not provide this.”
