The United States government began on Wednesday to collect tariffs imposed by President Trump in approximately 90 countries, including a huge 104% tax in China.
Radical reciprocal tariffs, which hit US allies and adversaries equally, get used to just after midnight and add up to a 10% baseline tax imposed on April 5.
Trump, 78, slapped China with the most steep tariffs in imports after the Popular Republic imposed the reprisals of 34% of the tariffs of the US goods. UU. In response to the import rate of 34% that the president announced last week.
“It was a mistake for China to retaliate,” said White House Press Secretary, Karoline Leavitt. “The president, when the United States is beaten, the hardest blows. That is why there will be 104% of tariffs in force in China tonight at midnight.”
The 50% retaliation rate of Trump on China adds to the 34% reciprocal tax and to the previously imposed tax of Chinese imports, which is equivalent to a total tariff rate of 104%.
The President sees his tariff policy as the “declaration of economic independence” of nations and believes that he will break down the barriers of foreign trade while he feeds a boom in national production.
Tariff rates, which include 17%, 20%, 24 and 25%of the encumbrances against Israel, the European Union, Japan and South Korea, were calculated by the president’s economic advisors and are based on the commercial deficit of Wits ITS.
Several Trump administration officials have said that telephones have been summarized since Trump’s alleged “release day” announcement, with foreign leaders seeking to reach an agreement to reduce rates.
“The president with his commercial team this morning, and directed them to have customized commercial agreements with each and every case that require this administration to reach an agreement,” Leavitt said, pointing, however, that Trump “expects that effect.”
In a White House event on Tuesday, the president promoted that the United States was already “receiving almost $ 2 billion per day in rates.”
Trump also insisted that this does not oppose “custom offers” with the country that seeks relief of rates.
“Not outside the joke, these are custom and very personalized agreements,” he said.
At the national level, Trump’s tariff plan has started Wall Street and fed inflation fears and a recession.
In the first two days after the president’s announcement last week, the S&P 500 index collapsed 10.5%, the largest loss of two days since March 2020.
The index fell on Tuesday at more than 1.5%.
The Dow Jones industrial average fell 320 points on the eve of the new rates and is more than 10% below its December record closure.
Meanwhile, the Nasdaq compound collapsed more than 2% on Tuesday and has already confirmed that it was in a bearish market, defined as a decrease or 20% or more below its record closure, according to Reuters.
If the agreements are not cut with foreign nations, Trump plans that the new tariffs remain in force until they determine that “the threat that the commercial deficit and the underlying non -reciprocal treatment represent are satisfied, resolved or mitigated.”
