The tariffs of the president of the United States, Donald Trump, are increasingly clusing the wheels of a world economy that was greased for decades by a predictable and relatively free trade.
From the large multinationals to the niche electronic commerce companies, they cut their sales goals last week, warned of employment cuts and reviewed their business plans, while the main economies reviewed their growth prospects in the midst of little encouraging data.
Although the financial markets are committed to the fact that EU and China move away from a total commercial war and that Trump reaches agreements to avoid higher tariffs in other countries, the mere uncertainty of where all this will end has become an important ballast factor in itself.
“The US tariff policy is a serious negative impact for the world in the short term,” said Isabelle Mateos and Lago, chief economist of the French Bank Banp Paribas.
“The end of American tariffs may be further a higher level than was thought,” he said, referring to US general tariffs, currently set at a 10%base, together with higher sector levies on products such as steel, aluminum and cars.
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World economy already feels the ballast of US tariffs
Beijing said Friday that I was evaluating a Washington offer to hold conversations about US 145%American tariffs, which it has responded with 125%levies. The administration of President Trump has also suggested that he is close to reaching agreements with countries such as India, South Korea and Japan to avoid more tariffs in the coming weeks.
On the other hand, companies such as the Swedish Manufacturer of Electrolux appliances trimmed their perspectives, while Volvo Cars, the logitech computer manufacturer and the diageo drink giant left their goals in the face of uncertainty.
The suppression, last week, of the customs franchise “of Minimis” for electronic commerce packages of less than $ 800 of products from China is a sake for many small businesses.
“We are going from zero to 145%, which is really unsustainable for companies and unsustainable for customers,” said Cindy Allen, CEO of Trade Force Multiplier, a global trade consultant. “I have seen that many small and medium enterprises simply choose to abandon the market completely.”
With Reuters information.
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