Trump ramps up trade war in tariff letters to leaders
Mayor Donald Trump, Japan and South Korea suppliers such as small players to small players, to trade partners, in the beginning of this year, a new stage of the trade war began to say that higher US tariffs will begin.
The imposition of a 25 percent tax on US importers from all goods from Japan and South Korea shook the Wall Street, the S&P 500 index withdrew sharply withdrawn, but the markets in Asia were taking the latest news.
14 countries have sent letters containing smaller exporters such as Serbia, Thailand and Tunisia, and at the same time warning that any retaliation step would be met with a similar response, and additional negotiations implied opportunities.
“If you decide to raise your tariffs for any reason, regardless of the number you choose to raise them, Trump said in the letters published on the real social platform to Japan and South Korea.
High tariffs come into force on August 1, and do not merge with automobiles and industry tariffs such as steel and aluminum.
This, for example, in some of Trump’s tariffs, the current 25 percent automobile industry tariff means that Japanese vehicle tariffs will remain at 25 percent rather than rising to 50 percent over 50 percent.
The Clock predicts that Trump will make agreements with the United States after revealing a global trade war that travels around financial markets and sends confusion to policy makers to protect their economies.
Trump received trade partners another Reprieve, as he signed an executive order for negotiations on Monday, extending his deadline until August 1st.
When asked whether the deadline is intact, Trump said, “I can say the company, but not 100 percent of the firms. They call and they say we want to do something different, we will be open to it.”
Trump estimated the outcome of the most of the world for months with countries that hoped to avoid heavy tariff walks, which he threatened.
The ratio of South Korea is the same as Trump was announced at the beginning, and Japan’s ratio is one point higher than announced on April 2. A week later, he closed all mutual tariffs at 10 percent until Wednesday.
While only two agreements have been reached with the UK and Vietnam so far, in June, Washington and Beijing agreed in a framework covering tariff rates.
Wendy Cutler, Vice President of the Asian Association Politics Institute, said that Trump’s closest US allies were unfortunate while walking tariffs for imports, but there was still time for a breakthrough in the negotiations.
“While the news is disappointed, it doesn’t mean the game is over,” Cutler said.
Trump said that the United States will apply 25 percent tariff to goods from Tunisia, Malaysia and Kazakhstan; 30 percent in South Africa, Bosnia and Herzegovina; 32 percent in Indonesia; 35 percent in Serbia and Bangladesh; 36 percent in Cambodia and Thailand and 40 percent in Laos and Myanmar.
Japanese Prime Minister Shigeru Ishiba said on Tuesday that Trump has recently made some progress on avoiding tariffs up to 35 percent suggested up to 35 percent.
Ishiba, Japan’s strategy on tariffs to discuss a meeting with cabinet ministers, “the United States has received an offer to rapidly advance with negotiations on the newly determined last date of August 1, and this, the content of the letter can be reviewed,” he said.
South Korea thinks that the US is planning to intensify the trade talks and Trump has expanded an effective period of grace for the implementation of mutual tariffs.
The country’s Ministry of Industry said, ız We will increase the negotiations in the remaining period to quickly solve the uncertainties from tariffs to reach a mutual useful result, ”he said.
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