After this week’s tariff whip, President Donald Trump, deciding exactly what he wants outside the commercial conversations with up to 75 nations in the coming weeks. Trump is also discovering the next steps with China. It increased its tariffs on Chinese products to 145% after China placed 84% retaliation taxes in US imports. Although its 90 -day pause in other rates caused the stock market to meet on Wednesday, countries still face an import tax of 10% basal instead of the highest rates announced on April 2.
“There will be a transition cost and transition problems,” Trump said at a cabinet meeting on Wednesday, April 10. “But in the end it will be a beautiful things.”
Kevin Hasett, director of the National House Council, told Fox News’ Fox and friends On Wednesday, the administration already has “offers on the table of more than 15 countries.” Hasset said the next step will be to determine exactly what Trump wants outside the negotiations. “We have a meeting today with all the main directors where we are going to present to the president a list of how we believe that his priorities could be. And I am sure he is going, you know, his own ideas about where to move things.”
Upon entering Wednesday, the interest rate in a 10 -year United States treasure note increased and approached 4.5%. That the US government was having difficulty finding possible buyers for the debt of its form. Trump said Wednesday that investors were getting “Yippy”, but after his rate pause, he described the bond market as “beautiful.”
The S&P 500 shares index jumped 9.5% after the put was announced. But reality returns on Thursday and the S&P 500 fell almost 3.5% as interest rates increased in the United States Treasury notes to 10 years. Of course, Trump was no longer going to put a 20% tariff on the goods of the European Union, a 24% tariff on Japan or 25% on South Korea. But those nations still have imports to imports to 10%high, the new Trump baseline as commercial conversations begin. And the tariffs get used to China, enclosing the two largest economies in the world in a commercial war.
It is still a ‘significant increase in costs’
In addition, the commercial war has expanded with China, and 25% tariffs are still applied to imported cars, steel and aluminum. The imports of Canada and Mexico, the two largest commercial partners in the United States, still face import taxes of up to 25%. And Trump still plans tariffs on pharmaceutical drugs, wood, copper and computer chips.
“While we appreciate the put, the reciprocal tariff or 10% still repeats more than Douif in the imports of leather footwear from countries such as Vietnam and Cambodia,” said Tom Florsheim, CEO of the Weyco group, a footwear. “Only at this level, it meant a significant increase in costs that will affect consumers.”
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Because the Budget Laboratory at Yale University estimated Thursday that also with the pause, the current Trump tariff regime reduces the average available income of a home by $ 4,364.
The secretary of the Treasury, Scott Besent, said that any trade agreements will be to “speak” agreements, instead of an entrance pact between a group of countries. Trump has established a series of complaints and objectives regarding tariffs, but Canadian and European counterparts have said that the real questions of administration officials have been vague so far.
Trump has said that he can eliminate the $ 1.2 billion trade deficit, which means that he no longer moves the United States to import more goods than exports to other nations. Hello too, the income of the tariffs to compensate for your income tax reduction plans. The president has also said the tariffs to recover factory work and raise workers’ salaries.
‘Zero Rate Agreement’
The president of the European Commission, Ursula von der Leyen, published in X that he has “constantly lawyed for a zero rate agreement for zero between the European Union and the United States.”
The Trump administration considers that China violates the basic commercial standards with the way in which it subsidizes its manufacturers, takes intellectual property of its global competitors, suppresses wages for its workers and manipulates its currency. The White House clarified that the 125% tariffs that Trump announced Wednesday against China were actually 145%, once their previous 20% fentanyl rates were included.
The data of the Census Office shows that the US made a commercial deficit of $ 295 billion last year with China. Because US consumers and companies are such an important client of Chinese manufacturers, Besent has said that it gives the United States an advantage in terms of inflicting pain to the economy of that nation through tariffs. Or of course, China is also preparing for a commercial war.
‘We’ll see what happens’
Trump at his cabinet meeting expressed hope of being able to reach an agreement with China, although he did not sacrifice any details of what Seijs was.
“Well, we’ll see what happens to China,” Trump said. “I would love to be able to make a deal.”
Meanwhile, Trump will need to deal with voters who could be frustrated by the high price of electronics and other goods that result from commercial wars.
“Many products that American imports are predominantly from China: smartphones (73%), laptops (78%), video game consoles (87%), toys (77%) and also antibiotics for the production of cattle in the United States,” said Zhang. “The resources of other countries will take time and result in much higher costs.”
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