“You are holding firm,” the US citizens said today after the 10% that he himself imposed on much of the products imported into the US from almost around the world, with the US president acknowledging that this “will not be easy” in the face of inflation risks.
This universal threshold of 10%, in addition to the customs duties already undergoing, are a shock to world trade, with threads expected to grow in the coming days.
“This is an economic revolution and we will win,” the US president wrote in the Truth Social platform today, saying to his compatriots, “holding firmly, this will not be easy”, but promising that “the end result will be historical.”
The new Trump duties have shocked the global economy and financial markets worldwide have suffered huge losses. Only in Wall Street, $ 6 trillion has disappeared in the last two days, according to Dow Jones Market Data. Indeed, yesterday, the president of the US Federal Bank (Fed), Jerome Powell, presented in dark colors the prospects of the US economy after new duties and their financial impact includes higher inflation, growth slowdown and greater unemployment.
The tariffs that are currently in the scope excludes some products – such as oil, gas, gold, copper, silver, palladium, timber for construction, semiconductors, medicinal products and minerals that do not exist in the US – are added to existing ones. The new duties also do not concern steel, aluminum and imported cars that have already imposed a 25%duties. The account will be even greater than April 9 for countries exporting more products to the US than they import from it. Imports from China will reach 54%, for them from the EU 20%, for Vietnam 46%and for Japan 24%… According to the official document presented by the US government yesterday, the new duties are about 80 countries and areas, including 27 countries.
Both Canada and Mexico, subject to another regime, are already paying a price from the trade war that the US president began since he began his second term.
‘It’s not in the interest of anyone’
A trade war “is not in the interest of anyone”, but nothing should be “excluded”, British Prime Minister Kir Starmer and French President Emmanuel Macron agreed today in the wake of the imposition of new customs duties by US President Donald.
In the telephone communication today by the two European leaders, Starmer and Macron, “they” agreed that a trade war is not in the interest of anyone, but that nothing should be excluded, “according to Downig Street.
“The prime minister and the president also discussed their concerns about the global impact (US duties) on the economy and security, especially in Southeast Asia.”
The two leaders agreed to remain in close contact in the coming weeks.
