AFP - Brasil de Fato
US President Donald Trump has issued a decree to impose higher import tariffs on dozens of trade partners, including several key allies. The new round of “tariffs” affects 69 countries and includes rates ranging from 10% to 41%. The move, announced just a week before a trade agreement deadline, is justified by the administration as a response to perceived trade imbalances and a lack of alignment on economic and national security issues.
Among the nations impacted are Canada and Switzerland, which face duties of 35% and 39% respectively on certain goods. The decree also imposes a 50% tariff on some Brazilian products, although key sectors like aircraft and orange juice are exempt. Reactions from the affected countries have been swift, with governments expressing disappointment and vowing to continue negotiations. The decision has been criticized for potentially destabilizing global trade relations and undermining long-standing alliances.
Economists and analysts warn that these protectionist measures could lead to higher consumer prices in the US and disrupt global supply chains. Financial markets have shown a mixed reaction, with some benchmarks falling in Asia and the US dollar weakening against the Japanese yen. The use of emergency powers to justify the tariffs is also being challenged in federal appeals court, raising questions about the legal basis of the administration’s trade policy.
Sources:
Trump’s new tariffs give some countries a break, while shares and US dollar sink – AP News
Trump Tariffs: Tracking the Economic Impact of the Trump Trade War – Tax Foundation
How will Trump’s 25% tariffs affect India’s key sectors? – The Economic Times
