The president of the United States, Donald Trump, signed on Saturday the executive orders for which 25% tariffs for the goods of Mexico and Canada enter Tuesday (with the exception of Canadian oil, which will have only a 10 %) and 10% for China.
Trump signed from his particular residence of Mar-A-Lago in Florida three separated executive orders on Saturday afternoon, thus realizing a promise announced repeatedly and can unleash a commercial war.
Trump has declared a national emergency under the International Emergency Emergency Powers Law to support tariffs, which allows broad powers to address crises.
White House officials said there would be no exceptions to tariffs. In addition, in the case of Canada in particular, they said that the US tariff exemption “minimis” for small shipments of less than $ 800.
The measures are the continuation of a repeated threat that Trump has made since shortly after winning the presidential elections last year, and will probably unleashed reprisals and will run the risk of lighting a commercial war that could cause broad economic disturbances for all the countries involved.
Trump set on February 1 as the deadline to press in favor of energetic actions to stop the flow of fentanyl opioid and its chemical precursors to the United States from China through Mexico and Canada, as well as to stop illegal immigrants who cross the US borders.
Less than two weeks after his second term, Trump is changing the rules on how the United States is governed and how he interacts with his neighbors and the rest of the world.
On Friday, he pledged to move forward with taxes despite recognizing that they could cause disorders and difficulties for US households.
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A model that measures the economic impact of the Trump Tariff Plan, prepared by the head economist of EY, Greg Daco, suggests that it would reduce the growth of the United States by 1.5 percentage points this year, would throw a recession to Canada and Mexico “Stanflation” in the country.
“We have stressed that strong tariff increases against United States shopping partners could create a staplative shock – a negative economic impact combined with an inflationary impulse – while triggering volatility in financial markets,” Daco wrote this Saturday.
This volatility became evident on Friday, when the weight and the Canadian dollar collapsed after Trump promised to fulfill their threats. The prices of US actions also fell and the yields of the treasure bonds increased.
With EFE information and Reuters
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