President Donald Trump described it as “liberation day” – when world trade finally begins to rebalance and the United States will not be subject to ill -treatment by its trading partners.
But a lot of America is looking on April 2 – when Trump sets new high tariff rates on imports from a wide range of allies and opponents – with fear.
The US Hamb’s emerging fees will be transferred to an unprecedented level since World War II. It was preceded by a sale in the American stock markets, a decrease in consumer confidence, and warning bells from opinion polls about the president’s treatment of the economy.
“I think there is a huge amount of anxiety,” said Douglas Holtz Et, a former White House official at the reign of George W. Bush and the founder of the American Labor Forum, a right -wing economist in Washington. He said the White House was running a “real threat to stagnation” in his attempt to raise the definitions that Peter Navarro, a senior Trump assistant, said the value of up to $ 600 billion annually.
“This is an incredible fool only from the local college policy perspective. When you start in the classes in international and global antiquities … it’s easy to be very tense about this,” added Holtz Ekin.
It is widely expected that the measures that will be announced this week will include what the White House has described as “mutual” Definitions Countries have to punish their fees for American goods as well as other policies that they did not like in Washington, including taxes on digital services and consumption.
Canada, Mexico, the European Union, China, India and other countries are expected to be in definition clips in the American administration.
Separately, Trump was also targeting specific sectors of additional fees, as he unveiled his plan last week to hit car imports 25 percent of customs tariffs And promising fees on medications as well.
In recent weeks, Trump His senior officials have made appeals from foreign diplomats and officials, as well as business leaders and pressure groups to tame their plans. However, the White House continued to keep them all on the edge of the abyss around the details, without any sign of any big concessions.
“The definitions will be generous than those countries, which means that they will be more kind to those countries to the United States of America for decades. We have separated from the absence of any country in history, and we will be much more beautiful than they were in us.
When talking about his plan for drivers earlier in the weekend in an interview with NBC, Trump ignored fears that the cost of buying a car in America may rise as a result. “I couldn’t care for a lesser extent if they raised prices, because people will start buying US -made cars,” he said.
“Trump confidence,” Navarro said, talking to Fox News Sunday.
“The reason we will not see inflation is that foreigners will eat most of them. We are the largest market in the world.”
But the warning signs of Trump about his commercial plans were accumulating.
On Sunday, CBS News found that 55 percent of Americans believe that the president focuses “more than necessary” on setting definitions on foreign goods, while 64 percent believe that he is not spending enough time to fight inflation and “reduce prices”.
In general, the classification of his approval on the economy is 48 percent, while 52 percent do not refuse, which reflects the general doubts about his performance in a major case that led him to victory in the 2024 elections.
Republicans in the Capitol Hill fell largely with Trump’s tariff, but some in the party began to lift the objections.
“I don’t think the Americans want to pay more against their cars. Currently, North America is actually cooperating to be able to build many American cars,” James Lancford, Republican Senator in Oklahoma, told CNN on Sunday.
On Friday, Republican mayors in Rothschest Hills, Michigan and Colombia, South Carolina, joined their counterparts from Canada, Mexico and other parts of the United States to warn of the impact of the fees.
“The escalation of definitions only increases the costs of companies, workers and consumers throughout North America. Definitions are taxes that increase the cost of living, deplete bank accounts, and put supply chains and jobs at the risk and disruption of local companies that pay economies in all three countries. Our societies will feel impact first,” said the mayors. ”
Trump’s danger and Republicans will be if the president fails to explain the benefits of his protective policies to the public, which are still looking for a lifting of high costs.
“People (Trump officials) did not ask a new global matter. They have asked them to obtain a stable economic performance,” said Holtz Ikeen. “They are trying to do the first. The last will cost them,” he added.
Union leaders, including Sean Fine, the head of the United Automobile workers, welcomed Trump’s definitions.
“The tariffs are a tool in the tools box to make these companies do the right thing … The intention is to restore jobs here. As you know, investing in American workers. The American working class members have left for decades, and they are tired of that,” he said to CBS.
But Trump was increasingly prepared to use trade in geopolitical goals.
After pledged to raise the definitions of Venezuelan oil buyers last week, on Sunday he warned the two countries against buying Iranian and Russian oil that they would also face.Secondary definitions– A step in the Moscow case aimed at increasing pressure on President Vladimir Putin to reach a peace agreement with Ukraine.
Trump’s bet is that the application of definitions is now a presentation of power at the international level and the political winner locally. But the Democrats will break if the audience begins to admire.
Democratic Senator in Virginia Mark Warner in Fox News on Sunday said the stock market “collapsed because they believed the customs tariff is stupid.” He added that the SMOOOT-HWLEY tariff in 1930 led to the great depression.
Warner said: “The willingness of God that Trump will do will not lead to the same place.”
https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcc0abedf-7a7d-45ba-bc1c-a9700ee2576e.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1
Source link