US President Donald Trump, along with Treasury Secretary Scott Bessin (L) and Trade Minister Howard Lottenic (PBUH), signs an executive order to create an American sovereign wealth fund at the White House Oval Office on February 3, 2025, in Washington, DC.
Jim Watson AFP | Gety pictures
White House assistants formulated a proposal that would impose fees about 20 % on most imports, Washington Post mentioned Tuesday.
The report cited three people familiar with this issue. He also said that White House consultants have warned that many options are still on the table, which means that the definitions of 20 % may not come. Another plan that is considered the “mutual” approach to each country, according to the Post.
The report comes one day before April 2, when President Donald Trump It is scheduled to announce his larger plans for global trade. He waved on the horizon on Wall Street, as stocks were partly struggling due to uncertainty about the rapidly changing world trade policy.
Contrary to the definitions of the Trump administration already, the new plan is expected to be more prevalent and durable rather than targeting specific countries or industries. Trump and his advisers said the goal is to make trade between the United States and other countries more fair with the increased revenue of the federal government.
Some economists have warned that new definitions can lead to a slower economic growth and high inflation, at least in the short term. There is also the possibility that countries will issue a retaliatory tariff in response to the White House.
The increasing trade war seems to harm the confidence of investors, consumers and business leaders in recent months. the S & P 500 4.6 % decreased in the first three months of the year, while heavy technology Nasdak 10.4 % decreased. Consumer and business leaders also showed the increasing certainty since the beginning of 2025.
A White House spokesman declined to comment on this position.
https://image.cnbcfm.com/api/v1/image/108118511-1742409766231-gettyimages-2196938554-AFP_36X27B7.jpeg?v=1743506915&w=1920&h=1080
Source link