Why is this important?
On Wednesday, US President Donald Trump signed a regulation imposing “mutual duties” in the amount of at least 10 percent. For goods imported from abroad, in the case of EU goods they will amount to 20 percent. The rates announced by the US are to constitute half of the summarized duties and non -charming trade barriers used by other countries.
Trump's movements cause falls on the American stock exchange. On Thursday, less than an hour before the session was closed on the New York Stock Exchange, the S&P-P500 indicator recorded over a four % decrease and may achieve the highest one-day decrease from March 2020 and Covid-19 pandemicia. Similarly high declines are recorded by the Dow Jones Industrial Average (over -3 %) and Nasdaq Composite (over -5 %). Particularly severe discounts affected the share prices of clothing concerns and electronics producers (including Apple), consisting of foreign production and components.
What did the US Vice President say?
JD Vance in an interview with Newsmax noticed that Donald Trump's movements should not be a surprise for anyone because he had announced them for months. – We had an economic policy that rewarded moving jobs to China instead of investing in American employees. President Trump promised that he would change it and did it – said the US Vice President.
At the same time, he added that the duties could be much higher, “but the president is trying to send a signal that we will be a little nice.” “We'll give a small discount,” he said. JD Vance said that Trump's administration wants to take care of “Wall Street people”, but she is more at the heart of “American employees and small entrepreneurs” and they are to benefit the most on Trump's commercial policy.
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