Trump tariffs: China, India, Brazil
Lowering tariffs enhances countries' competitiveness
According to Bloomberg, after the court canceled Trump's previous tariffs, China, India, and Brazil emerged as the main beneficiaries. Tariffs on goods from China will be reduced from 32% to 24%, and the actual effective rate of the global tariff will be around 12%. Russia, however, warns that the benefit could be temporary, as the administration is preparing new targeted tariffs for specific industries and countries.
Context
In 2018, Trump introduced a global tariff of 15%, which led to Asian and South American countries being excluded from the American market.
Summary:
The U.S. will lower tariffs on goods from China, India, and Brazil, but further increases in sector-specific tariffs are possible.
- Category: Economy
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- Source: https://t.me/newsby_btrc/188338
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- Published on:
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