All countries that have tariffs for US imports are targeted – which includes the European Union
Trump announces plan to tax imports from more countries
by Elisabeth Buchwaldand cnn
President Donald Trump announced plans for a round of new and comprehensive reciprocal tariffs, marking the last salary of administration in his battle to allegedly balance global trade.
Tariffs, which Trump put in place through an executive action this Thursday, do not immediately come into force, an intentional movement to give time to the nations to potentially negotiate new commercial terms with the US, a White House employee said Thursday -fair.
“Three big weeks, perhaps the best ever, but today is the big week: reciprocal tariffs !!! MAKE BIG AMERICA AGAIN !!! ” Trump posted this on the morning of Thursday before the announcement.
More information about tariffs: According to the US commerce representative, the United States currently applies a 2% weighted average rate on imports of industrial products.
Weighted medium national rates take into account the value of imports in a country. This means that if exports of a country are subject to customs rights in another country and constitute a large part of the country’s total imports, their weighted average rate will be higher than that of another country whose exports represent a small part.
Trump’s leading reciprocal customs rights were one of Trump’s top campaign promises – his method for balanced the accounts with foreign countries that apply taxes on American products and to resolve what he said are unfair business practices.
