Washington (APP) – President Donald Trump is To do additional action To upset the global trade system, with plans to sign an order with Wednesday, which will require that US taxes on imports be similar to the tax rate received by other countries.
“It’s time to mutual, Trump told reporters earlier this week.” “You are listening to this word a lot. If they charge us, we charge them.
The president had advised that the order would come on Tuesday or Wednesday. But when it was officially announced on Tuesday, Trump was asked if he would sign the order on Wednesday, and Trump replied: “We will see what happens.”
Since Trump has launched a series of taxes after being in power for less than a month, he has fully owned the path of the US economy. This is a condition that their economic views can eventually provide meaningful results for voters, even if Trump’s own entry can include import tax. Some financial pain In the form of inflation and Economic obstacles. The affirmative of Trump’s all -talk, its effects depends on the details of the prices and the reaction of other nations.
A mutual price order can be equivalent to a large amount of tax increase for shoulder by US consumers and businesses, as the Census Bureau has said that the country has a total import of $ 4.1 trillion last year. Prices can eliminate retaliation by trade partners who can develop and reset around the world where the United States stands the same with allies and rivals.
By signing this order, Trump will mostly fulfill his long -standing commitment to raise tax on imported goods, which is a clear break with his recent White House predecessors who have to use the refusal to use the strategy either Was seen or used as a target tools or used to reduce. Trump has broken the view, saying he wants to return to the United States in the 1890s, when the tax on imports was the dominant source of taxes.
But should the benefits of employment never implement and inflation should remain high, it is an easy line of attack for democratic lawmakers and candidates that Trump helped ultra health at the expense of the middle class.
“It doesn’t matter how you are smashing pieces, the costs for consumers are increasing,” New York’s Senate Democratic leader Chuck Shammer said earlier this month. “I will work with my peers to eliminate this dirt, reduce costs and remove these billionaires from the way.”
Trump has imposed 10 % tax on China on his contribution to the preparation of illegal drug fantasy and China has taken revenge. He said that if necessary on March 1, he is ready. After 30 days suspension – To impose taxes on Mexico and Canada on their faith, they should do more to fight illegal immigration and drug trafficking.
On Monday, she closed Exemption from its 2018 rates on steel and aluminumIn addition to increasing tariff rates on aluminum. It has also talked about imports, computer chips and additional taxes on pharmaceutical medicines.
Many of the dominant trade partners of the United States are preparing to break the economic breakdown in response to Trump’s possible actions.
In response to Steel and Aluminum prices, EU Chief Ursola Van Dare Leene said Tuesday: “The unpaid taxes will not be answered on the EU – they will mobilize the firm and proportional response measures.” That means Motorcycles, jeans, bourbon and peanut butter New taxes from the United States may face new taxes. Mexico and Canada – The two largest trade partners in the United States have also developed the counter.
Many Trump assistants have privately said that Trump’s long -standing goal with prices has been mutual. But Trump has also presented tariffs as a diplomatic tool to force Canada and Mexico to spend more resources on preventing illegal immigration and drug trafficking in the United States. He also repeatedly suggested that revenue would be a source of taxes that could meet its planned income tax deductions.
But before Trump officially signed the order, Goldman Sex analysts concluded on Tuesday that the final word for prices was unlikely.
“Of course, even if President Trump is currently looking at mutual rates as an alternative to more clear measures, we are entering just the fourth week of the four -year presidential term, and it seems that many more. There will be announcements. ” Investment bank analysts wrote.
Michael Zesas, a Morgan Stanley strategy, wrote in a note on Sunday that this year, a “tariff trafficking” will be formed with growth, inflation, interest rates and federal reserve policies.
“This is a major change in the world of globalization, when companies reduce low -cost labor and cost of materials at the beach,” said Zesas. “It is likely that this transition will take many years, which will create some opportunities and a lot of opportunities for others.”
