Titular
The United States prepares to impose new tariff fees on its commercial partners on Friday, when the deadline that President Donald Trump established for countries to negotiate the rates with the US, with only nine countries announcing agreements with the Trump administration, far from its objective of 90 agreements in 90 days.
Key data
Trump initially announced a series of elevated tariffs on April 2, which he called “Day of Liberation,” and then pause the encumbrances until July 9, and then again until August 1.
Trump firm executive orders on Thursday to establish new tariff rates for some countries that have not reached new agreements with the US. UU., Polyic reported, citing an unidentified official of the White House.
Before Friday, Trump announced a pause in the new tariffs against Mexico for another 90 days, writing in Truth Social that the country will continue to pay its current rates of 25% for all products not subject to the United States-Mexico-Canada agreement, 25% for cars and 50% in steel, aluminum and copper until a new agreement is announced, probably within the next 90 days.
Lee: Trump sets ‘reciprocal’ tariffs from 10% to 41% to goods from dozen countries
What to expect
A Federal Appeals Court could block the entry into force of tariffs this Friday. Some panel judges of 11 members based in Washington, DC, showed doubts about Trump’s capacity to use the International Emergency Emergency Powers Law (IEEPA) to impose taxes during an audience on Thursday. An International Trade Court of New York failed in May that Trump had exceeded his authority under IEEPA, but the encumbrances continued while the Trump administration appealed the decision.
What countries have negotiated new tariff rates with the USA from the announcement of Trump’s ‘Liberation Day’?
- United Kingdom: 10% in most products, including up to 100,000 imported cars, from the original Trump’s original threat.
- Vietnam: 20%, from 46%.
- Indonesia: 19%, from 32%.
- Philippines: 19%, from 20%.
- Japan: 15%, from 25%.
- European Union: 15%, from 30%.
- India: 25%, from 26%.
- South Korea: 15%, from 25%.
- Brazil: 50%, with exceptions in approximately 40%of products, from 10%.
- Thailand, Cambodia and Pakistan: The three countries have said this week that new commercial agreements with the US reached, but the rates have not been made public.
What will happen to tariffs in countries that have no current agreements?
The White House Press Secretary, Karoline Leavitt, said Thursday that “they will listen to this administration before midnight today.” Some countries also received Trump letters warning them about the new tariffs they will face on Friday, including Mexico and Canada. Trump threatened with a 30% rate for Mexico and 35% for Canada in letters sent earlier this month. Other countries would see their tariffs at the rates that Trump announced in April – 32% for Taiwan, 31% for Switzerland and 37% for Bangladesh, for example.
What will happen to the 10% minimum tariff imposed in April?
The base rate for all commercial partners has remained in force in the middle of Trump’s extended pause on liberation day tariffs and could increase up to 20% this Friday, according to what Trump has suggested.
This article was originally published by Forbes US
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