Donald Trump announced a new set of reciprocal prices on Wednesday, arguing that they would allow the United States to succeed.
Trump’s prices, which he will impose by decree, should send economic shock to the world. The White House has published a list of around 100 countries and the prices that the United States would impose in kind.
Here are the basic elements of the plan.
10% basic price
In a substantive call to Trump’s speech, a senior White House official told journalists that the president would impose “basic prices” on all countries.
This rate is set at 10% and will come into force on April 5.
Trump argued that the Americans were “torn off” and that the increase in foreign import prices would help restore American manufacturing, reduce taxes and reimburse the national debt.
The staff members of Trump and the White House described the current and indulgent rate rates, compared to the maximum that the administration could impose.
Some countries will only face the basic rate. These include:
- United Kingdom
- Singapore
- Brazil
- Australia
- New Zealand
- Türkiye
- Colombia
- Argentina
- El Salvador
- United Arab Emirates
- Saudi Arabia
Personalized rates for “worst offenders”
White House officials also said that they would impose specific reciprocal prices on approximately 60 “worse offenders”, to enter into force on April 9.
These countries impose higher prices on American products, impose “non -tariff” obstacles on American trade or have otherwise acted in a way that the government feels American economic objectives.
The White House manager said that each rate would be adapted to the specific targeted country.
“We are very nice,” said Trump during his White House event. The prices were not fully reciprocal, he said, because it would impose a reciprocal rate “updated” less than what its staff had determined to fully equal the commercial impact of the commercial policies of a given country.
The main business partners subject to these personalized rate rates include:
- European Union: 20%
- China: 34%
- Vietnam: 46%
- Thailand: 36%
- Japan:: 24%
- Cambodia: 49%
- South Africa: 30%
- Taiwan: 32%
No additional prices on Canada and Mexico
Canada and Mexico are not mentioned in these new pricing announcements.
The White House says that they would deal with the two countries using a framework set out in previous decrees, which imposed prices in Canda and Mexico in the administration’s efforts to solve fentanyl and borders.
He previously established these prices at 25%, before announcing Some exemptions and delays to their implementation.
25% prices on automotive imports
In addition, the president has announced that the United States would impose a “25% rate on all cars made abroad”.
These prices would continue almost immediately, at midnight on April 3.
