Summary of Trump's duties. Switzerland struck strongly, the Union in this Poland treated relief [MAPA]
Trump, implementing the policy of the highest customs rates from the 1930s, was particularly high in Switzerland. Helwec exporters will be burdened with a 39 % rate, which has met with a definite reaction of this rich country. India was among the countries affected by a 25 % duty and declared their willingness to talk to the USA.
The new high tariffs also covered Canada, Brazil and Taiwan. Canadian goods were covered with up to a 35 % duty, Brazilian-50 %, but when it comes to beef and coffee, because other goods will be a 10 % rate. The effective rate for Brazil calculated by Goldman Sachs will be less than 31 percent. Taiwan products got 20 % duties. Taiwan described his stake as temporary and expressed hope for its lowering.
According to Capital Economics analysts, the effective US customs rate increased to about 18 percent. with 2.3 percent Last year, covering 69 trading partners, “Reuters said.
Friendly with Russia have a barrier
The harsh position of Donald Trump's administration towards friends friendly to Russia is noticeable. Serbia got a 30 % rate, just like China, although negotiations are still underway here. Bosnia and Herzegovina also have such high duties.
The highest duties were imposed on Syria (41 percent), Laos (40 percent) and Mjanma (40 percent).
Undenous gestures from Canada towards the US have encountered a 35 % barrier. Iraq got a similarly high duty, and interestingly only 10 percent. Well, but there are other types of sanctions.
Rapid market reactions and uncertainty
World financial markets have reacted to Trump's administration decisions with clear declines. The European Stoxx 600 index lost 1.8 percent. during the day and 2.5 percent on a week, which is the largest weekly decline from April, when the first large wave of duties was announced. Wall Street's quotations also began on Friday in the minus. The MSCI index for Asia and the Pacific (without Japan) decreased by 1.5 percent, and the weekly loss reached 2.7 percent. On the raw materials market, oil prices continued in declines after an earlier one -percent reduction.
The new duties are to come into force on August 7 at 04:01 GMT, but many details about their implementation remain unclear. European Union officials, which recently concluded a framework agreement with the US, are waiting for further decisions of Trump regarding agreed exclusions, including for cars and aircraft. The rules for supervision over reloading restrictions that may result in 40 % fees for exporters trying to hide the origin of goods.
New tariffs appear at a difficult moment for the American economy. The latest data from the US indicate weaker than expected employment. The introduced duties are already starting to influence prices – according to the US Department of Trade Department, the prices of home equipment and permanent household equipment have increased in June by 1.3 percent, which is the greatest increase since March 2022.
In the face of high customs, many countries have announced their desire to negotiate with the USA, counting on gaining favorable conditions. Switzerland declared the pursuit of an agreement with Washington. Jean-Shippe Kohl, deputy director of Swissm, representing the Swiss machine and electrotechnical industry, described the situation as A huge shock for the whole country and the export industry.
The Minister of South African Trade Parks Tau emphasized that his country is looking for practical solutions to protect jobs and the economy from a 30 % American tariff. Here, however, the decisive with the withdrawal of racist law aimed at whites, which is considered much sharper than the provisions as apartheid. In turn, Southeast Asian states have relieved that American duties for their exports are lower than originally announced.
The Minister of Finance of Thailand, Pichai Chunhavajira, stated that the reduction of the tariff from 36 percent. up to 19 percent It will help the country's economy, maintaining its competitiveness, strengthening investors' trust and opening new growth opportunities.
Australian companies can also gain a minimum customs rate of 10 percent. For their products, which – according to the Minister of Trade Don Farrell – will increase exports to the American market.
Canada and India under pressure
President Trump, using extraordinary rights, raised a customs rate to Canadian goods related to Fentanyl to 35 percent, arguing that Canada does not cooperate in limiting the illegal drug flow to the USA. At the same time, Mexico received a 90-day relief from higher duties to give time to negotiate a broader trade agreement.
Prime Minister Canada Mark Carney expressed disappointment with the US decision and announced actions aimed at protecting jobs and diversification of exports. India, on the other hand, conduct talks with Washington after applying 25 % duties, which may affect the export worth about $ 40 billion.
