Higher US tariffs take effect on dozens of economies

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WASHINGTON: On Thursday, US high prices were implemented for dozens of economies, which rapidly increased President Donald Trump’s widespread efforts to renew global trade.

As an executive order signed by Trump last week, the US duties for the list of trade partners increased from 10 % to 15 % and 41 %.

Many products of economies like the European Union, Japan and South Korea now face 15 % tariffs, even with deals with Washington, to prevent rapid threat Levies.

But other people like India face 25 % duty.

The latest tariff wave of “mutual” duties, which aims to deal with commercial methods is considered unfairly, has expanded these measures since Trump returned to the presidency.

But these high taxes do not apply to sector imports that are targeted separately, such as steel, autos, pharmaceuticals and chips.

Trump, just before the deadline, said on the truth, “Mutual prices are implemented at midnight tonight.”

He added, “Billions of dollars, from the large -scale countries that have benefited from the United States for many years, will start laughing in the United States in every way. The only thing that can stop America’s greatness will be a basic left court that our country wants to fail.”

In another post, Trump said “billions of dollars” are now flowing into the United States after the deadline for implementation of new duties on August 7.

He said, “It’s midnight !!! Billions of dollars are flowing now.”

Trump said on Wednesday that he planned 100 % tariff on semiconductors – though Taipei said that the giant TSMC of chipmost would be exempted as we have a factory.

Nevertheless, companies and industry groups have warned that new Levies will seriously damage the small American business. Economists have warned that they can promote inflation and weigh on development in long journey.

Although some experts say that prices will have effects once, others believe that the jury is still there.

With dust settled at the country’s prices level, at least now, Professor Mark Bosh of Georgetown University expects US business consumers to move along with maximum bills.

He said that the 90 -day pause in these high “mutual” revenue gave importers time to stock it.

But although the waiting and viewing strategy initially forced the business to absorb more tariff burden, the inventions are decreasing, and it is unlikely that they will do it indefinitely.

“With the purchase of a school behind school, it will make a difference,” said Bosh, an international trade policy expert.

The devil in the details

The influence of tariff order on Thursday also leaves long -term questions for partners who have recently discussed agreements with Trump.

For example, Tokyo and Washington appear to be in disagreement over the key details of their tax contract, such as when the Japanese cars are on the lower Levies.

Washington has not yet provided a date for low auto prices to affect Japan, the European Union and South Korea. Generally, US auto imports now face 25 % duty under a specific order related to the sector.

A White House official told AFP that Japan’s 15 % tariff stakes are at the top of the current duties, despite some Tokyo’s privileges.

Meanwhile, the European Union continues to search for the key to the key to its wine industry.

In a recent letter to Trump’s industry, the US Wine Trade Alliance and others emphasized the removal of the sector’s prices: “Up to 60 percent of the full service service restaurant’s total margin of 60 percent of liquor sales.”

Russian oil fines

Even Trump is not allowing his trade wars to leave.

On Wednesday, a new frontier doubled the planned duties on Indian goods and reached 50 %, which cited the continued purchase of Russian oil in New Delhi. But an additional 25 % duty will be implemented in three weeks.

For the additional duties of India, Trump’s orders have also been threatened with other countries that import “direct or indirect” Russian oil, which is an important source of income for the Moscow war in Ukraine.

The current waiver still applies, with pharmaceuticals and smartphones not yet excluded.

And Trump has targeted the trial of his right -wing ally, former President Jerry Bollsaro, who has been accused of planning a rebellion.

US revenue on various Brazilian goods increased by 10 to 50 % on Wednesday, but wide discounts, including orange juice and civilian aircraft, are seen as softening the shock.

Nevertheless, important products like Brazilian coffee, beef and sugar are targeted.

Many of Trump’s prices face legal challenges over the use of their emergency economic powers, which is likely to eventually reach the US Supreme Court as a result of these issues.