Thursday President Trump praised his new Trade agreement with the UK As a “Max Out Agreement” which would act as a template for contract with other nations. However, some experts are taking a dull view, noted that the UK agreement mentions that the higher tariffs have long -term accommodation.
Although the contract with Britain gives some concessions, a 10% tariff Remained in the UK importThe Mr Trump unveiled the baseline levy, which served as part of his “Liberation Day” announcement on April 2 as a minimum import tax on other nations.
The White House spokesman Karolin Levit said Friday that the President was “not only for the UK for the UK but also with all other countries to negotiate his trade with 10% of the baseline duty.”
If Mr. Trump is less than 10% of tariffs on some import tariffs imposed Other races last monthFor the Congo’s Democratic Republic, from 5% high to 5% for China, it is much higher than the rate of effective tariffs before the second Trump administration before the administration of the Second Trump, according to the Economic Policy Research Center, a neutral policy Think tank.
Mr. Trump’s hanging tariffs can give some relief to the United States and customers who are divided into 10%. However, it still represents a major headwind for importers, which offers responsibilities on products and then all or most expenses deliver to customers, economists say.
Eye Chief Economist Gregory Daco CBS Moneywatch, “Despite the slow pace of trade agreements in the coming months, you still have an average tariff rate that is going to be in the double-digit range,” “It means that they are only importing the same thing for the same thing they are importing for. Keeps. “
As a result, Americans can strengthen their wallets, it is a serious risk that accounts for consumer expenses to account for an account for about 70 cents every $ 1 in economic activity. Daco said that businesses that are emphasized by tariffs can slow down their recruitment, which leads to a pulseback in the income growth of the family.
“Moderate improvement”
This deal with Britain is “a little improvement we had yesterday, but the US tariffs are still in place and the very limited new UK’s liberalization-press-trump remains worse,” Scott Lincomes, Vice President of the Economy, Scott Linkom said in an email.
The economic parts of the United States to discuss trade discussions are more, economists raises Downturn As a result of Mr. Trump’s trade war. The stock market falls and US Treasury prices slide With the announcement of April 2 of the President’s customs, investors expressed concern that a trade war could torpado economic growth.
Off the stock High After Mr. Trump announced on Thursday the new announcement Trade agreement With the UK
Wall Street has since reverted to the Trump administration soon after the new trade agreement has come to an hope of growing investors, many Americans have been working on Mr. Trump’s policies. A Recent CBS News PollsAbout 5% of the surveyors say they believe the US economy is getting worse, while only 5% of the Trump administration’s tariff has been approved.
Even as the United States tries to discuss the additional trade agreement, businesses are facing significant risk, economists note. It makes this difficult for the business agencies depending on the current level and the duration of the tariff from the ongoing uncertainties on the expenditure, recruitment and their supply chains.
“Although this tariff is low, this fundamental concern related to uncertainty and unpredentiality remains”, “Han-Ko Yeho, a senior fellow at the Peterson Institute for International Economics.” If it is not resolved or addressed, I think it would be difficult for consumer, investor and business to fully recover. “
Nevertheless, some experts have noted that the Trump administration’s new trade agreement attempts can provide some relief to the investors and businesses, until there is a growing clarification on where the tariff policies can be settled.
“Now, at least the wheels are related to discussions with different countries, with the deal between the United States and the United Kingdom, it may indicate that there may be D-Aschelles related to tariffs and trade-without a fully drawn trade agreement,” Jenny Capital Management Strategist Mark Lushini mentioned.
Commerce Secretary Howard Lutnik told Fox Business on Thursday that the Trump administration “focused on big countries”, though he added that the discussions could be dragged.
“The President does not want to go quickly,” Lutnik said. “He wanted to make the kind of contract we had made today, where we said, ‘Look, it’s just a win for America,’ and we understand how it can win for them.”
Main meeting with China
The United Kingdom represents a fairly modest trade partner in the United States, about $ 65 billion in annual imports or less than one tenth of annual import from China.
Treasury Secretary Scott Basent and US Commerce Representative Jamison Grair are expected to meet Chinese negotiators in Switzerland this weekend, and Mr. Trump indicates that he is open to reduce tariffs on country products from current 145% level.
“5% tariff in China seems right!” President Wrote Friday morning.
According to experts, this may not be enough to cushion the United States from the title of higher tariffs.
“Even if we see the Universal 10% tariff and the continuity of some high level rollback, or in China, 145%, we are still talking about the highest tariff rate since World War II,” said Lushini. “And so it will affect any form” “
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