W.The Orld leaders are ready to unveil a swath of tariffs on a imported goods for imports with Donald Trump to increase the US trade war.
US Presidents are ready to announce a string of fresh tariffs on the so -called “liberation day” in an attempt to increase homegron production and reduce trade imbalance.
These changes are scheduled to buy venezuela oil -buying countries to buy mutual tariffs on countries with levy to “unfair taxes” on American goods.
But some countries will be touched harder than others, the brunt of Trump’s trade war already a handful.
What are tariffs and who is affected?
All countries around the world that trade with the United States are in danger of facing tariffs on Mr. Trump’s so -called “liberation day”.
The United States imported $ 3.3 trillion from abroad last year, and the latest Washington Post claims that the White House has drafted a “tariff” tariff “on most imports in the United States.
As it stands, the existing tariffs on goods from Mexico, Canada and China, as well as on imported steel and aluminum, as well as 25 percent tariffs on vehicles and parts, will cover at least $ 1.4 trillion-wise goods, according to the tax foundation.
But the value of import affected imports will grow with a series of mutual tariffs declared by Donald Trump in the coming hours, as well as levy on Venezuela oil importers, and potentially undefined tariffs on agricultural products from abroad.
“For the great farmers of the United States: Get ready to make a lot of agricultural products to be sold inside the United States,” Mr. Trump announced the truth social in the beginning of March. “Tariffs will go to external product on 2 April. Have fun!”
Mr. Trump warned that the “all countries” would be impressed by the Lump mutual tariffs – although a statement with his President’s memorandum suggested that countries where there is a loss in trade with the US either – which means they export more than importing – or high tariffs will be targeted on American products.
The memorandum stated that these “inappropriate” taxes on American goods cost US firms more than $ 2 billion every year.
But by Tuesday evening, it is still not clear which countries will be affected by the latest round of tariffs, and to what extent, and therefore economists are unable to estimate the value of trade.
Instead, American Treasury Secretary Scott Besent excluded the “top 15 percent” of countries that do heavy trade with the US and implement high tariffs and obstacles for imports – but will not name them, or will not give more details to percentage figures.
Another member of Shri Trump’s National Economic Council said that the administration was targeting countries that were in trade deficit with the US; In 2024, the total goods trade deficit of $ 1.2 trillion.
Countries in which they export more to the US than importing include China, European Union, Mexico, Vietnam, Ireland, Germany, Taiwan, South Korea, Canada, India, Thailand, Italy, Switzerland, Malaysia, Indonesia, France, Austria and Sweden.
Most likely the countries of both groups will be affected, with the memorandum of Trump, directly France, Brazil, Canada, India, China and the European Union will be called out as a whole.
Despite not being in business deficit, the UK may also be affected, including the White House, including inappropriate, discriminatory, or supernatural taxes in the list of improper, discriminatory, or supernatural taxes imposed by our business partners on the United States, workers and consumers.
The UK’s efforts to negotiate a deal with the US for exemption continued on Tuesday night.
‘Big Three’ countries determined to suffer the most
Canada, Mexico and China – only three countries stand to lose the most from Sri Trump’s trade war to face tariffs.
For Canada, Mr. Trump has already implemented a 25 percent tariff on goods with temporary discounts for goods, including garments and apparel, with some $ 253 billion imports affected.
But with temporary discounts due to ending tomorrow, the figure is likely to grow for the country that imported about $ 421.2 billion to the US in 2024.
For Mexico, the country’s $ 236 billion goods were exported to the US – around 47 percent – currently less than 25 percent of tariffs, while exemption is replaced. Again, the discount ended on 2 April.
For China, according to the Tax Foundation, the US $ 430 billion exported to the United States has already been collided with 20 percent tariffs.
But these figures do not include additional tariffs on steel and aluminum, nor 25 percent of car imported cars and vehicle parts from abroad.
According to the Center for Strategic and International Studies (CSIS), the various tariffs that Mr. Trump are presenting have the ability to be cumulative, especially presenting major concerns for three countries.
Countries may face a combination of nationwide, mutual and industry-specific tariffs on the same goods, warning CSIS.
Heavy tariffs on foreign vehicles
Mr. Trump’s latest sector-specific tariff targe aimed at the motor vehicle industry, with 25 percent tax on vehicles and car parts imported from abroad starting from April 2.
Automotive imports represent $ 458 billion in trade in the US, and have increased by about eight million cars imported in 2024 to almost a quarter since Kovid.
Countries that will suffer the most are once again Mexico, Canada and China; According to data from the US Economic Analysis Bureau (USBEA), Japan, South Korea and Germany.
Top brands such as Jaguar Land Rover, Volvo, Volvo, and Mercedes-Benz produce a majority of their American-baton cars abroad, and will possibly suffer the most from tariffs.
But homegron car brands such as General Motors (GM) and Ford are also at risk, both are automotive factory in the US staples and the front side in Mexico.
In addition, companies manufacturing in the US will have to face high cost in supply chains, as imported vehicle parts – will also be under the price of about $ 86 billion – 25 percent tariffs last year.
Venezuela oil buyers extra levy
What is more, last week Mr. Trump announced that he would introduce 25 percent levy to any country importing oil and gas from Venezuela – and in Venezuela, effective from April 2.
According to the Tax Foundation, 25 percent will be at the top of any other existing tariffs; In America’s attempt “Nicholas Maduro’s corrupt governance ends the financial lifestyle”.
America is only one of the top importers of Venezuela oil behind China. Other buyers are blocks of India, Cuba and European Union.
If Mr. Trump follows these countries through their plans to increase the goods by an additional 25 percent, China will especially face enough obstacles to trade with the US.
But the biggest loses in the trade war can be American everyday.
The price of a new car is determined to increase an average of $ 3,000 on an average according to economists, and retaliation for tariffs in previous administration caused a loss of $ 27 billion in agricultural exports, which mainly kills farmers.
Critics say that a blanket tariff on all imported goods – $ 3.3 trillion in all industries in 2024 – may come at cost for American consumers in the cash register.
