He 10 % global tariff that the US president, Donald Trumpannounced this week it has entered in force this Saturday at 00:01 local time from the east of the USA. (04:01 GMT), to a extent that threatens to cause even more turbulence in international bags.
The new Trump tariffs
On April 2, on a day baptized as “Liberation Day”, Trump announced that tax of 10 % to 184 countries and territories, in addition to the European Union (EU), and which, in some cases, increased up to 20 % for European products or 34 % for Chinese imports.
That additional tariff climb applied only to some Washington commercial partners will enter into force at 00:01 local east time of the US East (04:01 GMT) of April 9.
What enters into force from this moment is the 10 % global tariff that affects all the products that the United States imports from other nations.
However, those products that were already loaded in a ship and in transit to the United States before 00:01 local east time of the east of the US (04:01 GMT) this Saturday, according to the executive order that Trump signed on Wednesday to implement these measures.
That exception – the only one that collects the order – prevents the goods that are already on their way to the United States to be affected by the change in customs.
Tariffs imposed by Trump are a threat to the foundations of free trade that have defined the world for decades and have already unleashed a commercial war with traditional Washington allies, such as Canada, and adversaries such as China, which has announced their own taxes.
Tariffs have also fueled the fear of economic slowdown, with the largest bank in the US, JPMorgan Chase, raising the possibilities of a global recession from 40 % to 60 %.
Economic consequences
Within the US, the president of the Federal Reserve (FED), Jerome Powell, warned Friday that Trump’s tariffs could translate into greater inflation and less economic growth, and warned that the highest inflation could be persistent and not temporary.
Tariffs also threaten to more expensive within the US such as homes, cars and clothing, especially harming the poorest families in the country, which could experience a capital drop of up to 5.5 %, according to a study of a research center of Yale University.
Trump imposed tariffs by resorting to the additional authority that has as president to declare a “national emergency”, something that he argued that the current commercial situation implies a risk to the security of the United States.
The president has promised that tariffs will make the US return to the jobs that moved to countries with cheaper labor in recent decades; But, in recent weeks, he has also recognized that there could be a period of painful “transition” for American families.
The last time the US tariffs were so high was after President Herbert Hoover (1929-1933) promulgated the controversial Smoot-Hawley tariff law in 1930, which raised tariffs on many products imported to almost 40 %.
To this measure it is attributed to have worsened the great depression, also known as the crisis of 1929, which lasted until the years prior to World War II.
