Donald Trump is not giving up on tariffs. The US administration is preparing a price increase
On Tuesday, contrary to the president's earlier announcements, tariffs came into force at 10%, not 15%. This decision results from Donald Trump's Friday executive order, which signed a document imposing temporary tariffs on goods from around the world.
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The president invoked Section 122 of the Trade Act of 1974, which allows for the introduction of such tariffs in response to the balance of payments crisis.
A day later, Trump announced that the rate would be raised to 15%, but he has not signed the appropriate documents yet.
Donald Trump is still working on a raise
A representative of the White House, quoted by Reuters, emphasized that the president did not change his mind on increasing customs duties. As he noted, the US administration is working to achieve this goal, although he did not provide a specific date when the increase could come into force.
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In accordance with applicable regulations, customs duties up to 15%. may be imposed for a maximum of 150 days. Their extension would require Congress' consent, which seems unlikely in the current political situation.
Formal proceedings against Brazil and China
At the same time, the US Department of Commerce conducts a number of formal proceedings, including: towards Brazil and China. They are intended to enable the imposition of new duties that will not be time-limited.
These actions are part of a broader strategy of the Donald Trump administration aimed at protecting the American economy and equalizing the trade balance.
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The president, known for his tough approach to trade policy, has repeatedly emphasized that his goal is to eliminate unfair trade practices and ensure equal conditions for American entrepreneurs.
