U.S. president Donald Trump signed a regulation on Wednesday imposing ‘Common duties’ on goods imported from abroad. The stakes calculated by a squad of American leaders are expected to represent half of the combined customs duties and non-price trade barriers applied by another countries.
This means that advanced duties will be applied to products from Almost all America's largest trading partners. For the European Union, it will be 20%, China – 34 percent, Japan – 24 percent, India – 26 percent, South Korea. 25 percent. In the case of China, this rate will be added to the previously announced 20% duties, i.e. it will be 54%.
Donald Trump announces fresh duties. "We will have a global recession"
The decision of the U.S. president was commented on in the program “Day in the World” in Polsat News by prof. Tomasz Michalski of the Paris Academy of Commerce.
– United States eliminate order that was introduced after the end of the Cold War – he said. According to him, Donald Trump's decision de facto besides means the U.S. exit from the planet Trade Organization.
SEE: Trump announced common duties. "Economic independency Declaration"
– So we see the end of the last 30 years, we will have a trade war and global recession He said.
According to him, despite Trump's announcement that the introduction of duties will bring about a revival of the American economy and a lowering of the prices of many goods, the United States will feel the most. – But we can anticipate that It will besides hit Europe, Japan, China, but besides countries that are very well integrated into the world, i.e. Indonesia, Malaysia, Vietnam, India," he said.
– We're in a fresh reality to get utilized to. We'll see erstwhile this trade war that's about to start is over. possibly quickly, and possibly it will last a fewer years and you will gotta create a fresh planet order that has served the Americans long enough – he added.
Canada and Mexico without additional duties. The expert explains
Prof. Tomasz Michalski estimated that ‘if these duties persist, a large part of things will should be produced in the US‘. But in the United States There are not so many skilled workers, no production chains – he recalled.
He besides pointed out that additional duties would be avoided by Mexico and Canada. As he explained, this is due to the fact that if the US wants to rebuild its industry, they request components that are produced in these countries.
– Reindustrialisation with these duties is not something that seems possible. (...) There is simply a reason why various productions are made in countries with low labour costs – he said.
SEE: The European Union is responding to Donald Trump's movement. "We're finishing the answer"
When asked how Trump's announcements could affect the average household in Europe, he said that it would hit many countries, especially "the more open ones" specified as: Ireland, Netherlands, Belgium, Germany.
– As far as Poland is concerned, we are going to ricochet, due to the fact that we have very small exports to the United States – he said.
– However, there is no uncertainty that as a Europe we will surely gotta respond to this," he stressed.
“This is simply a immense inflation hazard for the United States”
Concerning the duties introduced by Donald Trump, Dr. Piotr Arak, chief economist of VeloBanku besides commented that the imposition of duties in explanation could help reduce the trade deficit between the US and the remainder of the world.
– However, the consequences of the current U.S. President's actions could more likely consequence in a recession both in the US and in Europe, causing a recession. reducing global GDP by about 1.5%. over the next 2 years and antagonize all US trading partners who will gotta respond to advanced duties, e.g. with a digital taxation on technology companies, or By imposing duties on another American products said in Polsat News.
SEE: The planet power responds to customs. "Trade War No Winners"
– American consumers can anticipate even the basic products they buy to be more expensive. As of 5 April, that is, from the minute these duties enter into force, All products offered on the US marketplace will be more expensive – he said.
– This is simply a immense inflation hazard for the United States," he added.
– Americans pay more, we sale less, So in general no 1 will be happy with this, but the White home – he stressed.
Expert: Trump's decision will affect Polish GDP
When asked how this would affect Poland, he said that we “will feel it indirectly by sale of German automotive to the US market‘.
– We straight export machines, a bit of automotive and any textiles to the US, so this marketplace is not that crucial to us," he said.
– But if Germany does not sale their automotive products for ratings, These cars will be at least 20 percent. more costly than today, this will origin a decrease in GDP in Poland," he said.
SEE: Donald Trump introduced customs. There's a reaction from Prime Minister Tusk.
As he added, according to expert calculations, could be 0.4% of GDP.
– This means that the improving economical situation in Poland can be covered by the effect of export restrictions. Everything that happens affirmative in our economy can be reduced by the effect of the trade war," he said.
– We will proceed to develop, but The export sector will drag us down He summarized.
== sync, corrected by elderman ==
