Global trade war. He declares it Donald Trump with an announcement of general minimum tariffs of 10 percent. Duties which, however, become "reciprocal" for those countries against which the White House feels it must intervene due to individual trade policies towards the USA: starting right from the China which sees a 34% inflicted on its exports to the United States, while theEuropean Union will suffer a 20% increase in its exports when the goods arrive at US customs. Britain, instead, will stop at the minimum threshold of 10%.
Trump, here is the list of tariffs in the world
The list of the most significant tariffs – with “immediate” effect – announced by President Trump is merciless. Here it is: China: 34%; European Union 20%; Switzerland 31%; Britain 10%; Japan 24%; India 26%; South Korea 25%; Indonesia 32%; Cambodia 49%; Thailand 36%; Taiwan 32%, Vietnam 46%, Venezuela 15 percent. No, however, to reciprocal duties as regards Canada e Mexico: those for fentanyl and immigration remain.
Trump, when will US tariffs come into effect?
As for the times, Washington specifies that Saturday April 5 at 6am Italian time the 10% duties will come into force, while Wednesday April 9 at the same time it will be the turn of the levies exceeding 10% imposed on goods imported into the United States (including, precisely, those from China and Europe).
Furthermore, the following were confirmed: 25% duties from Thursday 3 April on foreign cars.
Trump, the attack on world leaders
So what is Trump’s message to world leaders? In his words, heads of state and government must “end their tariffs, drop trade barriers, and stop manipulating their currencies.” Not only that, but Trump will also declare a national emergency on trade, two White House officials said in a phone call with a small group of reporters.
Trump, the reactions. Meloni: "Wrong duties"
“Europe is united, ready to defend its interests and open to fair and firm talks”, the first reaction of the EPP president, Manfred weber. Second Paris, the EU will move “before the end of April” with a “two-phase” response.
The president of the EU Commission, Ursula von der Leyen, as announced by the community executive, will speak at 5 am on Thursday 3 April in response to Trump's announcement. Von der Leyen will speak from Samarkand, Uzbekistan, where she has already landed for the EU-Central Asia summit.
From the Italy, the premier Giorgia Meloni he called the duties a “wrong measure that is not convenient for anyone” stressing that the government will do “everything possible for an agreement with the United States with the aim of avoiding a trade war that would inevitably weaken the West in favor of other global players. In any case, as always, we will act in the interest of Italy and its economy, also by comparing ourselves with other European partners”.
Trump Tariffs: Wall Street and Dollar Fall, Gold Hits New Record
The first financial consequence of what Trump wanted to rename “the day of liberation” is that the dollar falls sharply against euro after the announcement of generalized duties: the euro against the dollar is trading at over 1,09 dollars from 1,0840 before Trump's announcement and against 1,0793 yesterday. The US government bonds, resulting in a rise in yields, which for the 4,231-year Treasury are at session highs of XNUMX%.
As for the Wall Street futures, are in sharp decline after the announcement, with the Dow Jones which loses 0,78%, the Nasdaq 2,4% and the S & P 500 drops by 1,57%.
E Gold hits new record high after the US president's words, driven up by defensive purchases in view of financial turbulence and amid tensions over the impact of trade restrictions on the economy. The precious metal's prices jumped 1% above $3.134 an ounce, just a few dozen dollars from the all-time high set yesterday at $3.149.
