US President Donald Trump continued his aggressive customs policy: his “day of liberation” is the same for a “massacre” for the global economy. Read here when the new Customs Madness applies and which dictators are excluded.
Now he is there, the big break with the US. In the announcement of his madness, Trump even accused himself of close trading partners that the United States have so far “looted and raped” in his customs policy. About the Europeans, he said again that they had removed the US “over the table”.
The US president visibly spoke proudly about import tax against “the whole world”. The whole world? There are exceptions. According to US government officials, important American partners such as Canada and Mexico are excluded from the new rates, because car parts for “American” cars are mainly manufactured there. Trump had previously imposed rates of 25 percent on goods from the steel and aluminum industry from both countries, which remain applicable.
What exceptions are there?
Moreover, the autocrats of the world can be happy with the economic “massacre” that the United States do. Because: Cuba, Wit -Russia, Noord -Korea and Russia are also not influenced by the new returns of Trump. The explanation: you would suffer enough! Existing sanctions would “exclude any sensible trade,” said the White House. However, it is not true that the Russian export company in the US no longer exists. In 2024 alone it was worth several billion euros.
Some were so copper, medicines, semiconductors, wood, gold and “certain minerals” will not be influenced by the mutual rates presented on Wednesday.
What does the schedule look like?
On April 5 at 12.01 hours (local time, 6.01 CEST) For trading partners, a “minimal use” of ten percent will come into effect worldwide. Higher rates for the “worst offender”, according to the White House, will be taken into operation on April 9 at 12.01 hours. (Local time, 6.01 hours CEST).
The higher extra rates concern important trading partners of the United States, including tight allies such as the European Union. Input from the EU is set with surcharges of 20 percent. Other important trading partners are also affected: India is working on surcharges of 26 percent, South Korea with 25 percent and Japan by 24 percent.
The new rates China must be particularly difficult – the country with which the US has the largest trade deficit. China must expect new surcharges of 34 percent. These surcharges apply in addition to rates that have already been raised: since 4 March the rates of 20 percent have applied to Chinese import for the US. The new extra customs on Chinese import is therefore a total of 54 percent. The EU and China have already announced retribution if negotiations should not be fertile. Then it will be really expensive …
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
