Despite criticism, the US government is adhering to its global customs package. This Wednesday, US President Donald Trump will take place another drastic reduction, which will probably change the structure of the world economy. The EU is currently advising on a corresponding counterattack.
When asked whether the next round of new rates is still negotiable and the entry into force can be postponed, Minister of Trader Lutnick said the television station CBS: “There is no delay.” He then pushed: “The rates are coming.” US President Donald Trump announced them and meant no joke. The rates would not disappear so quickly.
“The president must regulate world trade,” said Lutnick. The US Finance Minister Scott Bessent also told the Omroep NBC that the rates are nothing about which can be negotiated within a few days or weeks. The director of the National Economic Council, Kevin Hassett, reported in an interview with the Omroep ABC.
Trump wants to strengthen the production site USA
A few days ago, Trump had presented a huge customs package that the structure of the global economy should change considerably. In a first step, new flat -rate rates of ten percent came into force on imports from almost all countries. On April 9, a complex mechanism will follow in the next step, which offers even higher rates for countries with which the US government believes that the US government has a particularly large trade deficit. With his customs policy, Trump wants to strengthen the USA production site, but also lead to other countries reducing its own trade barriers for input from the US.
How will the EU counter the rates of Trump?
The EU is currently striving for a closed procedure against the new rates of the United States. This should amount to the first targeted counterattack for American import from tooth floss to diamonds in volume up to $ 28 billion. The commercial ministers of the 27 EU Member States meet on Monday in Luxembourg.
Apparently more and more states want to negotiate with Trump
In the meantime, India and Taiwan want to do without countermeasures. Moreover, there are good 50 states who wanted to negotiate, Trump’s business advisor Kevin Hassett told the US Presidential Office with the request for customs negotiations, he said on Sunday afternoon. For example, Israel strives for a loose.
No punitive rates against Russia
No American criminal rates will give it against Russia. This is justified with the constant negotiations on the Ukraine war. Hassett told the ABC television station that it would “not be appropriate to throw something new in the middle of these negotiations”. Trump therefore decided not to mix the two subjects. This does not mean that Russia is treated completely differently than other countries, Hassett emphasized. The president only focuses on negotiations with Russia around the end of the war against Ukraine.
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.
