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US President Donald Trump has declared a set of new tariffs on Wednesday by defending they will allow them to prosper economically.
These new import taxes are expected to send economic shock waves all over the world.
However, the US President believes that it is necessary to eliminate trade imbalance and maintain American affairs and production.
Here are the main elements of the plan.
10% main tariff
In a call before the speech of Trump, a large white house official told reporters that the president will apply the “initial” tariff to all imports of imports into the United States.
This ratio is set up at 10% and will come into force on April 5.
These companies that brought to the United States to the government to pay taxes to the government may have a blocking effect on consumers.
Some countries will only face the base rate. These include:
- UK
- Singapore
- Brazil
- Australia
- New Zealand
- Turkey
- Colombia
- Argentina
- El Salvador
- United Arab Emirates
- Saudi Arabia
Special tariffs for ‘worst criminals’
White House officials said they would explain that they describe the “worst criminals as special reciprocal tariffs.
These will come into force on April 9.
Trump officials say that these countries have received higher tariffs than US goods, or “tariff” has taken obstacles or otherwise they act differently for America’s economic goals.
These are the main trading partners who are subject to these special tariff rates:
- European Union: 20%
- China: 54% (include previous tariffs)
- Vietnam: 46%
- Thailand: 36%
- Japan: 24%
- Cambodia: 49%
- South Africa: 30%
- Taiwan: 32%
There is no additional tariff in Canada and Mexico
The main rate of 10% is not applied to Canada and Mexico because they have already targeted the Trump’s presidency.
The White House, along with both countries, in the leadership of both countries, in a framework of both countries, in both countries, the Fentanli’s efforts to enter the United States and border issues in both countries have introduced tariffs.
Trump put these tariffs at 25% to all the goods received from both countries before announcing the previously announced some freedoms and delays.
25% of car imports
In addition, the President confirmed the launch of a new American “25% tariffs in all foreign household cars.”
This tariff was almost immediately in the middle of the night at night.
