It is recorded in marble. Donald Trump signed on Thursday, July 31, the decree that ratifies the new customs duties concluded with the United States commercial partners. Although they were going to submit an application this Friday, President American finally postponed its implementation until August 7 to allow customs to organize for the collection, said a White House official to the press.
The countries that have signed an agreement before the fateful date, therefore, without surprise, will have customs duties announced above in recent days. The European Union (EU), but also Japan or South Korea, will see their products taxed up to 15%. It will be a little lower for the United Kingdom: 10%.
But European countries are despite everything but badly treated by US administration than many other commercial partners, as we can see in this infographic.
However, the agreements concluded so far are often negotiation executives with quite vague details, which should then lead to more deep documents.
France and the EU expect the lowest taxes on wines and spirits, whose customs duties were 10%so far. At the moment, Donald Trump has not given exceptions to these products, which could, if nothing moves, cost about 20% more for US consumers.
In addition, in the absence of agreement, customs duties could have been much higher: 30% instead of 15% for European goods, 32% instead of 19% for Indonesia, 36% instead of 19% also for Thailand and Cambodia … the unpleasant surprise never for Switzerland, which is seen in 39% of customs.
Syrian products taxed at 41%
With respect to other countries that have not agreed with Washington, American customs tasks applied to their products are between 10 and 41%.
Most countries are imposed on customs tasks of 15%. Only a few states are subjected to higher rates, including 30%South Africa, 35%Serbia and Switzerland to 39%.
With respect to Brazil, the decree signed by Donald Trump sets 10%customs tasks. The US president took a decree, however, on Wednesday, July 30, he increased 40 percentage points, customs duties applied to certain Brazilian products, which takes the tax to a total of 50%. The US president had threatened Brasilia in recent weeks to impose such a recharge in reprisals by the Prosecutor’s Office launched against former Brazilian president Jair Bolsonaro, prosecuted for an attempted attempted after his defeat in the presidential elections in 2022.
“A kind of VAT for Americans”
Donald Trump praised the merits of the agreements already concluding, which inflates the public income of an economy to a large extent in debt. However, the impact of customs tasks continues to worry economists, who see them weighing inflation, in June to 2.6%and in US growth.
The Apple group even reported on Thursday that customs’ tasks will lead to an additional cost of 1,100 million euros in the current quarter.
And if the customs duties desired by Donald Trump are far from delighting the United States commercial partners, their protectionist policy could also affect US consumers. This is in any case what the former European Commissioner Thierry Breton suggested, at the BFMTV established on Thursday night.
“The United States imports $ 3,300 in goods, these $ 3,300 will be taxed. If an average rate of 20%applies, that is 600 billion. Who will pay these 600 billion? First companies when matters, then US distributors who will approve and are the consumer at the end,” he said.
Source: BFM TV
