Trump, tariffs and Reciprocal
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But the actual calculation the Trump administration seems to have used seems not to be reciprocal at all.
From CNN
President Donald Trump followed through on his tariff threats by declaring on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade sur...
From Time
"Trade deficits are no longer merely an economic problem. They are a national emergency," Trump said.
From Reuters
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The Vietnamese government said on Friday it had asked the United States to postpone by one to three months its reciprocal tariff rate of 46% on imports from Vietnam to allow time for negotiations. Vietnam will also take steps to import more American goods,
4hon MSN
China said on Friday it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war.
President Donald Trump said countries, whether staunch allies or adversaries, would be subject to at least a 10% tariff.
Economists say Trump's 'reciprocal' tariffs appear to be 'some other made-up measure based on a formulaic trade deficit calculation.'
China was already subject to a 20% tariff when Trump announced the additional levies on Wednesday during a ceremony in the Rose Garden at the White House. Beijing now has an effective U.S. import tax rate of 54%, one of the highest for any major American trading partner. The new U.S. tariff rate on China comes into effect on April 9.
Australian Prime Minister Anthony Albanese said on Thursday the decision by U.S. President Donald Trump to impose tariffs was "not the act of a friend," but ruled out placing reciprocal tariffs against the United States.
Economists and analysts have expressed concerns about the potential repercussions of these tariffs. There is apprehension that levies could hike consumer prices, disruptions in global supply chains, a
US President Donald Trump says that the United States will implement a “discounted” 30% tariff on South African imports.