US President Donald Trump once again surprised the whole world on Wednesday, including his representative of Jamieson Greer's trade, who learned about the entry in social media in social media during hearing in the Congress, where he had previously defended the curses imposed by Trump for five hours.
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“This is absolutely ridiculous” – assessed in an interview with PAP Prof. Reinert, an international trade expert. As he admitted, he himself was surprised by Trump's return, because the administration had consistently denyed the president that the president had considering Paus.
“Trump's administration promised that she would never change politics, but she did that. However, the 90-day break is still harmful because it does not allow enterprises for effective planning. The administration must permanently withdraw this policy” – said the scientist.
Despite the announced break, there is still a 10 % rate for almost all imported products from abroad, as well as an additional 125 % duties on goods from the PRC, which, according to some experts, are in fact an embargo on many Chinese products. As assessed by prof. Reinert, introduced by the president The barriers are “extreme” and have nothing to do with the principle of reciprocity on which they were to be based. As a result, the US still have the highest duties among developed economies.
“Extreme duties imposed by Trump's administration began as a proposal to introduce mutual tariffs. However, the tariffs were imposed. They were aimed at reducing both the general and bilateral trade deficit in goods. Service trade was completely ignored,” noted the expert. “AND As expected, these duties caused a trade war. This became a serious blow to the world economy, also harming the US economy, including the production sector, “he added.
As noted by prof. Reinert, the harmful effects of customs duties were noticeable on stock markets and bonds. On Wednesday, Trump admitted that it was the market reaction that prompted him to return.
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“People jump a little beyond the line. They were a bit nervous, people got a little nervous, they got scared a bit,” said the president. He also noted that he was particularly increasing in the profitability of treasury bonds.
“I watched the bond market. It is very complicated. If you look at him now, he is beautiful. The bond market is now beautiful. But I saw yesterday evening that people were getting a little bad” – admitted Trump.
