Laptop computers from Taiwan, liquor from Italy, frozen shrimp from India, Vietnam and Irish butter Nike Sneakers.
These products are found in homes across the United States, which stands as a will for the permanent role of America and the most attractive market for goods around the world.
They are now one of the huge categories of goods under additional taxes after President Trump, on Wednesday, all American trade partners applied additional, heavy duties on 60 countries along with universal tariffs on all American trade partners, considering the “worst criminals” of unfair trade practices.
In a rapid change from decades of trade policy, Mr. Trump established 10 percent base line duty on all goods imported in the United States. In addition, other countries will be charged a so -called mutual tariff at a higher rate next week.
For the European Union and China, the two largest American trading partners, the White House imposed tariffs of 20 percent and 34 percent. Additional levy on China will be added to 20 percent tariff imposed by Mr. Trump.
Even close colleagues like Japan and South Korea were not spared. Neither were countries like Australia and Brazil who buy more than America, because they sell it.
The announcement, which Mr. Trump said as the “liberation day” of America, sent shock waves around the world and raised the audience of a global trade war. The stock markets exploded the news, as investors were surprised at the size and scope of the tariff.
In less than three months, Mr. Trump has pronounced tariffs on Canada, Mexico and China, as well as steel, aluminum, import duties on cars and car parts. The executive order on Wednesday included a discount for semiconductors, pharmaceuticals and wood. But analysts feel that they are not reprimanded; They are products to be targeted.
The colleagues and opponents are hitting the foot to make an understanding of Mr. Trump’s tariff barrage, which has taken us import duties up to our highest level in more than a century and has not shown any sign of trusting. Some threatened to retaliate. Others openly pressurized for conversation, while some quietly pushed to concessions through back channels.
China accused the US of “unilateral bullying”, “promised to take” firm counterons “to protect its rights and interests. “South Korea called an emergency task force and vowed to” put all government resources to overcome trade crisis “. In Brazil, President Luiz Eneasio Lula da Silva’s government said it was evaluating counterfeit measures.
In the morning address on Thursday, European Commission Chairman Ursula von Dera Leyen said the global economy would be “massive suffering” from tariffs. In order to negotiate, he said that apart from the blocknary tariffs, he is preparing further counterers, which were already ready for earlier taxes on foreign steel and aluminum.
Asia was particularly difficult from Mr. Trump’s plan. Vietnam, the beneficiaries of companies producing outside China during the first Trump Presidency, were slapped with 46 percent levy. Taiwan, Thailand and Indonesia were all completing import duties of over 30 percent. The White House put 26 percent tariff on imports from India.
For decades, exports have served as a path to economic prosperity to develop Asian countries emerging from conflict, crisis or poverty. The latest tariff punished countries such as Taiwan and Japan, which have been successful in modernizing their economies through trade, and have also darkened the possibilities for poor countries such as Cambodia and Bangladesh that still want to follow the route.
Cambodia, the manufacturer of clothes and shoes, was killed with 49 percent tariffs. The United States is the largest export market in the country.
“As a small country, we just want to survive,” said Sok Ison, a spokesman of Cambodia’s ruling Cambodian People’s Party.
Mr. Trump has blamed the sale of cheap goods from these countries for hollowness out of the manufacturing sector of America. But he has also helped maintain inflation in the Gulf, reducing prices for American consumers.
Sarang Shidore, director of the Global South Program at the Quinshi Institute for Responsible Statecraft at Washington, DC, said that tariffs would kill many developing countries the most difficult, while most of the world would encourage most of the world to move more quickly towards an order without the United States.
“When it comes to doing business, we are very high in a multi -polar world, and alternative markets exist. However, there will definitely be pain and transaction costs in diversification,” he said.
Australia’s Prime Minister Anthony Albani said that his country would not respond with an anti -retraction tariff, “Australia will not be involved in the race below which leads to high prices and slow rise.”
In Japan, officers and business experts were caught by the guard with the size of the new tariff, the country will face – 24 percent. It was particularly disgusting that Japan’s average tariff on non -agricultural objects is the lowest at the global level. Japan called Tariff “very regrettable” and vowed to continue the search for a discount.
Prime Minister Shigru Ishiba has promised to increase Japanese investment to about 1 trillion dollars, focusing on purchasing more US products such as liqueurized natural gas.
Speaking before the announcement of the latest tariff, the Japanese drink veteran known for the premium whiskey brands, Takeshi Ninami, Chief Executive Officer of Santori Holdings, said Takeshi Ninami said that he believes that the tariff could be negotiated as Japan is the largest foreign investor in the United States.
“The duration of chaos can ensure,” he said. “But finally, the situation will stabilize.”
A data analytics firm Acigger calculated that Trump’s announcements would result in $ 600 billion new American tariffs per year. Levy’s wholesale will come from 10 countries, in which there will be accounting for a quarter of $ 149 billion of sugar exports additional tariffs. Vietnamese goods will be faced by $ 63 billion, Taiwan’s products will export $ 37 billion, and $ 36 billion in Japanese tariffs. German and Irish goods will jointly face $ 41 billion in additional levy.
During the first Trump Presidency, tech companies produced some in Vietnam to protect from possible trade war with China. One -third of Vietnam exports are now electronics.
Apple built airpods, watches and iPads in Vietnam over the years. This transferred some iPhone production to India after years of fully relying on Chinese factories.
South Korean group Samsung Electronics has invested over $ 20 billion in Vietnam as it started opening the factory there nearly two decades ago. It now produces more goods in Vietnam than China. Last year, it produced about $ 70 billion goods in its Vietnamese factories, most of which for exports.
The policies of Mr. Trump are also complicating decisions for small American businesses. Brendon McMor, co-founder of Torma2Play, a TURMAKER, located in Torrance, California, said the company had manufactured all its products in China as it began about nine years ago. But it started considering factories in Vietnam or India to protect it from Chinese import tariffs.
In Vietnam, it was found that factories run by Chinese companies using materials from China were not very cheap. Instead, it decided to try a test run of the construction of one of its toys in India – a decision that Mr. McMoror said that looks better with the elevated tariffs imposed on Vietnam. It studied if it could manufacture in the United States, but he said the cost was about five times higher than China.
And despite the high cost of tariffs, he no longer looks as more viable as production.
“I don’t think it really makes sense to invest in this manufacturing in America. If the next president comes in and reverse the course on all these tariffs, you are going to a terrible place,” he said. “It makes it more understandable for just a kind of stick where we are currently constructed and not making big risky moves.”
Damian Kev, Jack Nicas, Victoria Kim, Alex Traveli, Cho Song-Hun, Needle And David piercene Contribution reporting.
