Trump’s 10% import tariff comes Into effect, shakes global trade
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A cargo ship full of shipping containers is seen at the port of Oakland, as trade tensions escalate over US tariffs, in Oakland, California, US, March 6, 2025. — Reuters
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US Customs officials on Saturday began implementing President Donald Trump’s unilateral 10 % tariff on all imports from several countries, which next week, 57 major trading partners’ duties were duties.
The early 10 % of the “baseline” tariff, which is tolerated by the US importers, was implemented at 12:01 AM ET (0401 GMT) in sea ports, airports and customs warehouses, which had two clear departures of two framework of mutually unanimous global tariff rates.
“This is the only biggest trading action in our lives,” said Kelly Ann Shaw, a business lawyer and former White House business adviser during Trump’s first term.
Shaw told the Brookings Institution event Thursday that he expects to grow over time, as countries try to discuss low rates. He added, “This is a beautiful earthquake and a significant change as we trade with every country on the earth.”
Trump’s Wednesday’s announcement shook the global stock markets, clearing $ 5 trillion for S&P 500 index companies until Friday, which is a decrease of two days. Due to fear of recession, prices of driving, oil and commodity fell, while investors fled to protect government bonds.
Despite the trade deficit with the United States last year, Australia, the United Kingdom, Brazil, Colombia, Argentina, Argentina and Saudi Arabia were for the first time in the affected countries affected by 10 % tariffs. White House officials have said that if their policies were improved, many countries would run a major deficit with the United States.
The American Customs and Border Protection Bulletin provided the cargo for cargo or the 51 -day grace period in transit provided the ET week before 12 o’clock in the morning. These cargoes need to reach May 27 to avoid 10 % duty.
Trump’s “mutual” tariff rate of 11 to 50 % is set to be implemented on Wednesday at 12:01 pm. EU imports will face 20 % revenue, while Chinese goods will be affected by 34 % tariff, which will reduce Trump’s new Levies to 54 % on China.
Beijing said on Saturday, “The market has talked to” rejecting Trump’s prices “. China has implemented many anti -measures, including 34 % additional revenue on all US goods, and preventing exports to some rare land minerals.
“China has been more difficult than the United States,” Trump said on social media on Saturday, not even closer. ” “This is an economic revolution, and we will win. Strict execution, it will not be easy, but the final result will be historic.”
Immediately after posting the comment, Trump was seen arriving at his Trump National Golf Club in the Florida city of Jupiter, reading a New York post article that covers China’s US taxes and stock market reduction.
Shelter from the storm
French President Emmanuel Macron said in a post on X, “A trade war is not in the interest of anyone. We must unite and commit a commitment to protect our citizens and our businesses.”
Some global leaders hoped that they would deal with Trump and stop the economic outcome, while others weighed the response.
British Prime Minister Kerry Star Star writes in the Telegraph newspaper that he is “ready to use industrial policy to help the storm shelter the British business,” saying his government’s priority is to try to secure a trade deal with the United States, which includes tariff exemptions.
Israeli Prime Minister Benjamin Netanyahu’s office said he would leave for Washington on Sunday to discuss new 17 percent of the taxes on Israel to meet Trump.
The media reported that Japanese Prime Minister Shigro, who faced 24 % of levies, wanted to talk to the US president over the telephone.
Vietnam, which benefited from the US supply chain change away from China after Trump’s first -term trade war with Beijing, agreed on Friday to discuss a 46 % tariff on Vietnamese imports on Friday to discuss an agreement with the United States.
A source said that Taiwan’s National Security Council chief was in Washington for talks that were expected to include revenue. Taiwanese President Lai Chung-T.This on Saturday discussed with the Tech executives to discuss how to respond to 32 % duty on its product.
Italian Minister of Economy Jiankarlo Georgei on Saturday warned against imposing retaliation on the United States that in a business forum near Milan, saying that doing so could be harmed.
Trump’s close adviser to US billionaire Elon Musk told a political program in Italy on Saturday that he hopes to see full freedom of trade between the United States and Europe, which he describes as a “zero tariff situation”.
Canada and Mexico were exempted from Trump’s latest duties, but recently, 25 % of the taxes on goods have been faced that do not comply with the principles of principles under the North American trade agreement.
Although Trump’s order exempts 1,000 product categories from new revenue such as pharmaceuticals, uranium and semiconductor, the administration is considering new duties on some of them.
