Trump’s baffling tariffs moves are undermining U.S. role as world’s superpower
This, July 7 “Stephanie Ruhle with 11th hour” section.
President Donald Trump Once again, it accelerates the trade war. He is on Monday Letters sent The US allies threaten new, higher tariff rates between 25% and 40% in imports from 14 countries, including Japan and South Korea.
Trump’s news led to the closure of the three major stock indexes on Monday. However, considering that the President of the President has not yet required any trade deadline date, it is interesting that this is a major sales trigger.
In fact, on Tuesday morning, several investment banks published notes that question the follow -up of the President for investors. From UBS: “Investors understandly seems to be a wasted effort to analyze Trump every time Trump when they foresee the future withdrawal in the future.” From beginning to end Goldman Sachs, “In general, we do not expect these proposed rates to come into force on August 1” nation Intting “Tariff Rollercoaster journey continues.”
The announcement of the president came just before the deadline for July 9. Trump signed a executive order that gives countries on Monday Until 1 August Locking trade agreements with the US or seeing these latest rates come into force.
According to Treasury Secretary Scott Bessent, Trump’s executive order is already working. “When countries say that the countries have a chance to return to mutual tariff levels, we changed their melodies in terms of negotiations,” Bessent told CNBC on Monday. “My mailbox was full of many new offers last night, many new offers. So, it will be busy for a few days.”
Although management stated that there were many new offers and proposals, Bessent did not give any details about who these offers and offers came from.
But let’s go back to the promise of the administration about tariffs in April. White House Trade Advisor Peter Navarro Told Fox business The management “90 agreements within 90 days”. A permanent sound bite in mind and a slogan that can be easily amplified, but what have we achieved so far? Only three trade agreements that cannot increase trade relations and trade deficits-such as the frameworks or “concepts of the agreements.
So, what did we hear from the White House because this 90 -day period ended? A lot of contradictions.
One of the cabinet members responsible for commercial negotiations on Sunday He gave contradictory statements. According to Trump, “agreements ile with most countries will be held on this Wednesday. However, Trade Secretary Howard Lutnick said mutual tariffs will enter into force on August 1st.
On the same day, hearing the other man who carried out trade negotiations was shocking. Tell CNN In this 90 -day period, “many” countries are not in contact with the US on trade agreements.
Just think of this: We are the superpower of the world and although it is Trump’s constant threats, Many countries did not contact us about a possible agreement. Take a minute to take into account the process of how this operation is managed, carried out and transmitted, and then you can start to understand that more than 100 countries may have any idea what to say to the USA.
This article was initially published Msnbc.com
