U.S. president Donald Trump announced that he would rise the duties imposed on China's goods to 125% and at the same time ordered a 90-day break in the application of increased duties to another countries. At this time, the duties are to be 10%.
Impact on China
Given the deficiency of respect that China has shown to the planet markets, I hereby rise the tariff imposed on China by the United States of America to 125%, with immediate effect
“ Trump wrote on his social networking site fact Social.
‘Break’ for others
On the another hand, given the fact that more than 75 countries have called upon representatives of the United States (...) to negociate the settlement of the trade, trade barriers, customs, currency manipulation and non-monetary duties, and that these countries have not taken any retaliatory action against the United States, I have decided on a 90-day break and a importantly reduced common customs tariff of 10% during this period, including with immediate effect
“He added.
‘We have seen a successful negotiating strategy”
As the U.S. Treasury Secretary Scott Bessent told journalists after the announcement of the decision, the reason for the suspension of duties was not the chaos and decline on the stock exchange, but an overwhelming number of countries wishing to negociate terms of trade with the US.
We saw a successful negotiating strategy that president Trump implemented a week ago. It has prompted more than 75 countries to negotiate. It took large courage, large courage to keep him on course until that moment.
said Bessent.
As I told him last week in the same place: "Do not retaliate," and you will be rewarded. So all country in the planet wants to come and negotiate. We're ready to perceive to them.
“He added.
This refund comes the day after the president and his spokeswoman Karolina Leavitt assured that he was not considering a 90-day suspension of duties. Even U.S. Trade typical (USR) Jamieson Greer appeared in front of the home of Representatives' budget committee at the time of the announcement of the decision. As he admitted, he learned about Trump's decision during the hearing, though he added that there were discussions about this.
A fewer hours earlier, at the time of the beginning session on Wall Street, Trump appealed for peace of mind. He stressed that it was a "great time" to buy. Trump wrote on his community portal fact Social:
Stay calm! Everything will be fine. The US will be bigger and better than always before.
SEE ALSO:
olnk/PAP
