The president of the United States, Donald Trump, has excluded Russia, Cuba, North Korea and Belarus of its tariff roundS Global because on these countries severe economic sanctions weigh, the White House argued on Wednesday.
In statements to the newspaper ‘The New York Times’, a senior Trump administration official said that the aforementioned nations “already face extremely high tariffs” that “prevent any significant trade with these countries,” he added.
Trump announced on Wednesday the imposition of a 10 % global base tariff for all countries that consider that they establish commercial barriers to US products, although it adds an additional tariff for those who consider the “worst offenders.”
Thus, 34 % tariffs will impose for imports from China, 20 % for the European Union, 24 % for Japan, 26 % for India, 17 % for Israel and 10 % for most Latin American nations.
The minimum 10 % tariff will enter into force on Saturday, April 5, while the additional part that affects each nation will begin to be applied on day 9.
The Republican argues that these measures will cause companies to transfer their production to the United States and generate jobs, while experts warn of an increase in the cost of living.
Free Trade Agreement in Mexico and Canada
Trump decided to relieve Mexico and Canada, its main commercial partners, by postponing the imposition of rates for Mexican and Canadian products armored by the Free Trade Agreement (T-MEC).
However, 25 % tariffs are maintained to steel and aluminum from Mexico and, another of up to 25 % to car parts that are not protected by the marked standards of the T-MEC.
