Trump prices update live: the world powers warn against trade war on new prices

They are now among the vast categories of goods subject to additional taxes after President Trump, Wednesday, imposed universal prices on all American trade partners as well as additional and heavier functions on 60 countries which he considered as the “worst offenders” of unfair business practices.

In a net distance from the commercial policy, Trump provided a basic line of 10% on all goods imported into the United States. In addition, other nations will be billed a so -called reciprocal rate at an even higher rate next week.

For the European Union and China, the two largest American trade partners, the White House imposed prices of 20% and 34%. The additional sample on China will be added at a tariff of 20% previously imposed by Mr. Trump.

Even close allies such as Japan and South Korea have not been spared. Nor countries like Australia and Brazil that buy more in America than they sell to it.

The announcement, which Trump had praised as the “liberation day” of the United States, sent shock waves around the world and raised the spectrum of a world trade war. The stock markets fell to the news because investors were surprised by the size and scope of prices.

In less than three months, Mr. Trump has pronounced prices on Canada, Mexico and China as well as import duties on steel, aluminum, cars and car parts. On Wednesday, the decree included exemptions for semiconductors, pharmaceuticals and wood. But analysts believe that these are not problems; These are products that must be targeted.

Allies and adversaries rush to give meaning to Mr. Trump’s pricing dam, who has brought American import rights to their highest levels for more than a century and has not shown no sign of restraint. Some threatened to retaliate. Others have openly urged negotiations, while some have discreetly pushed the concessions through the rear channels.

China has accused America of “unilateral intimidation”, committing to take “firm countermeasures to protect its own rights and interests”. South Korea has summoned an emergency working group and promised to “pay all government resources to overcome a commercial crisis”. In Brazil, the government of President Luiz Inácio Lula da Silva said that he was asking for reprisal measures.

In a speech early in the morning Thursday, Ursula von der Leyen, president of the European Commission, said that the world economy will “suffer massively” from prices. While urging negotiations, she declared that the block was preparing other countermeasures in addition to the reprisals that he had already prepared for the previous tax on foreign steel and aluminum.

Asia was particularly affected by Mr. Trump’s plan. Vietnam, beneficiary of companies that retains the production of China during the first Trump presidency, was slapped with a 46%levy. Taiwan, Thailand and Indonesia have all dealt with import rights over 30%. The White House has put a price of 26% on imports from India.

For decades, exports have served as a way for economic prosperity for the development of Asian countries emerging from conflicts, crisis or poverty. The latest prices have punished countries like Taiwan and Japan which have managed to modernize their economies thanks to trade, and they also darkened the prospects for poorer nations such as Cambodia and Bangladesh who are still looking to follow this path.

Cambodia, producer of clothing and shoes, was affected by a price of 49%. The United States is the largest export market in the country.

“As a small country, we just want to survive,” said Sok Eysan, spokesperson for the Cambodian People’s Party in Cambodia.

Trump blamed the sale of cheap goods from these countries for the hollow of the American manufacturing sector. But they also helped maintain inflation remotely, which reduces prices for American consumers.

Sarang Shidore, director of the World South World Program at the Quincy Institute for Responsible Statecraft in Washington, DC, said that prices would reach several hardest developing countries, while encouraging a large part of the world to move more quickly to an order without the United States in its center.

“Regarding trade, we are in a multipolar world and alternative markets exist. Although of course, there will be costs of pain and transaction in diversification,” he said.

Anthony Albanian, the Prime Minister of Australia, said that his country would not respond with reprisal prices, while walking Australia “would not join a race on the merits which causes higher prices and slower growth”.

In Japan, managers and sales experts have been caught by the size of the new price to which the country will face – 24%. It was particularly shocking since the average price of Japan on non -agricultural goods is among the lowest in the world. Japan has described the rate as “extremely regrettable” and has promised to continue to seek an exemption.

Prime Minister Shigeru Ishiba is committed to increasing Japanese investments to around 1 billion of dollars, focusing on the purchase of more American products such as liquefied natural gas.

Speaking before the announcement of the latest prices, Takeshi Niinami, Managing Director of Suntory Holdings, a Japanese drinking giant known for premium whiskey brands, said that he thought that prices could be negotiated because Japan is the largest foreign investor in the United States.

“A period of chaos can follow,” he said. “But ultimately, the situation will stabilize.”

Requiring, an data analysis company, calculated that Trump’s announcements would lead to $ 600 billion in new American prices per year. The majority of the levy would come from 10 countries, Chinese exports representing a quarter of additional prices at $ 149 billion. Vietnamese products are said to be confronted with $ 63 billion, with 37 billion Taiwanese and Japanese dollars exports 36 billion prices. Combined German and Irish products are said to be faced with $ 41 billion in additional samples.

During the first Trump presidency, technological companies moved production to Vietnam to protect themselves against a possible trade war with China. A third of Vietnam exports are now electronics.

Apple has moved the manufacture of airpod, watches and iPads in recent years to Vietnam. He also moved a certain iPhone production in India, after years relying only on Chinese factories.

The South Korean conglomerate Samsung Electronics has invested more than $ 20 billion in Vietnam since it started opening factories almost two decades ago. He now produces more goods in Vietnam than China. Last year, it produced about $ 70 billion in goods in its Vietnamese factories, most of them for export.

Mr. Trump’s policies also complicate decisions for small American businesses. Brenden McMorrow, co-founder of Move2play, a Torrance-based Toamaker, California, said that the company had built all its products in China since it started about nine years ago. But he began to consider factories in Vietnam or India to protect himself from Chinese import rates.

In Vietnam, he found that factories managed by Chinese companies using China materials were not much cheaper. Instead, he decided to try a manufacturing test of one of his toys in India – a decision which, according to Mr. McMorrow, looks better with the noble price imposed in Vietnam. He studied if he could make in the United States, but said the costs were about five times higher in China.

And despite the higher cost of prices, he does not see American production as more viable now.

“I do not think it is really logical to invest in trying to do a lot of this manufacture in the United States if the next president arrives and simply reverse the course on all these prices, so you will be in a terrible place,” he said. “It is more logical to stick to the place where we are currently manufacturing and not to make large risky movements.”

Damien cave,, Jack Nica,, Victoria Kim,, Alex Travelli,, Sang-Hun Choe,, Sui-the weekend And David Pierson Contributed reports.