According to him, he discussed duties with the President of Vietnam by phone. Trump called the conversation “very productive.”
“Vietnam wants to reduce his tariffs to zero if they manage to conclude an agreement with the United States. I thanked it on behalf of our country and said that I was looking forward to meeting in the near future,” the head of the White House said in a statement.
Context
On April 2, Trump announced the introduction of duties on the import of goods from many countries, including Ukraine, the EU, China and the UK. According to him, he introduces a basic fee of 10% for all goods from all countries, with the exception of the relevant conditions of the free trade agreement between Mexico, Canada and the United States. He emphasized that goods that do not comply with this agreement will be further taxed in the amount of 25%.
The head of the White House added that importers will begin to pay the basic fee from April 5, and higher rates for different partners will begin to operate on April 9. Trump noted that the American authorities introduced “relevant tariffs” for all countries in the amount “about half of the fact that they are levy from us.”
Journalists came to the conclusion that The tariffs were calculated by the “meaningless method.” According to the American economist Paul Krugaman, new duties are not based on any obvious existing tariffs. FT believes that the White House and their experts divided the deficit of trade in US goods with any country by the total number of goods imported from this country, the received percentage – the so -called unjust tariff – divided in half and received “mutual tariffs”.
A number of countries of countries condemned new global mutual duties, including China.
On April 3, Trump said that he was ready to reduce import tariffs if other countries offer him something “phenomenal”.
On April 4, China in response announced the introduction of 34 percent duties on all imports from the United States. The rule will begin to act on April 10 at 12.01.
