While the EU is still hoping for a negotiating solution in the trade conflict with the United States, US President Donald Trump wants to double the steel rates from 25 to 50 percent. The export of European steel products to the United States is probably even more difficult.
Trump wants to double Zölle for the import of steel to the United States from currently 25 percent to 50 percent of the value of the goods. This was announced in a speech for employees of a steel company in the US state of Pennsylvania. The extra costs for import would strengthen the American steel industry, Trump said. Customs is his absolute favorite word.
Trump added to employees: the work in Pennsylvania would no longer exist if it had not yet increased the rates for steel imports during his first term.
The US government is based on the protection of steel with the protection of national security. Trump has already announced, threatened or already implemented countless other rates. In addition to a new penalty tax of ten percent of the goods value for almost all imports, he has also announced specific, higher rates for the import of many countries. Large trading partners such as China and the European Union are also affected. The White House in the online media explained that the service percentage will be implemented in the coming week. Trump explained the truth about the truth that the new sentences would come into effect on Wednesday 4 June.
Trump rates use the dishes
Various processes in which no definitive decisions have yet been made run to the legality of many of the rates announced by Trump. The extra taxes on the import of steel are not influenced. The import of steel products in the US should become even more difficult with the higher rates.
Many of Trump’s trading partners, including the European Union, are already negotiating with the United States to prevent rates through new trade agreements. In the case of the EU, Trump recently suspended additional rates of 50 percent of the import of goods until the beginning of July to leave more time for negotiations.
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.
