The latest pronouncements of US duties advice created confusion between investors and Wall Street. The situation seems dynamic and constantly evolving. The duties in force, at the moment, are 25 % in steel and aluminum of historical partners such as the European Union, Canada, Mexico, Japan and South Korea. 25 % remain in cars and parts that do not comply with the commercial pact between the US, Canada and Mexico and in derived products that include rare minerals, batteries and microchips.
Regarding China, it remains 30 % in all goods, including 20 % linked to the fenanilpioid crisis and 10 % of universal duty. The rates of up to 145 % were suspended for ninety days. The universal duty of 10 % was blocked by the International Court of Commerce, but was reintroduced by the Federal Appeal Court.
“Mutual” duties, ranging from 11 to 50 % and are applied to countries that Donald Trump considers incorrect to the US, are still suspended. A 10 % duty on oil and Canadian gas was suspended after its announcement by the tycoon, due to political pressure and fear of increased energy cost.
Source: IL Tempo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
