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Donald Trump unveiled a radical plan to impose “reciprocal” prices on American trade partners on Thursday, announcing a greater disturbance for the world economy.
In a wide side led by the allies and the American opponents, Trump ordered his best commercial advisers to offer new price On a “country by country” basis in retaliation against levies, regulations and subsidies deemed unjust by Washington.
Maison Blanche and Trump officials warned that Brazil, India, Japan, Canada and EU trade partners were likely to be affected by additional prices.
However, an official said that the administration would examine the countries with which the United States had the largest trade deficits, which would include Mexico and China, before imposing new samples.
“I decided, for fairness, that I will charge a reciprocal rate, which means that the countries invoice in the United States of America,” said Trump. “In almost all cases, they charge us much more than we invoice them, but these days are over.”
Reciprocal prices could be imposed on April 2, accelerating efforts in capitals around the world to launch negotiations with Washington to prevent their implementation.
The dollar was slightly weakened on Friday against a basket of currencies, including the euro and the yen, reaching a hollow of almost three weeks. It has dropped more than 1% since the start of the week, while the yield of the Treasury at 10 years of US has pushed up to 4.535%.
Barclays analysts said in a note published on Friday: “While the global financial markets could be inclined to take a certain relief from the delay. . . It is not clear for us if the delay necessarily reflects a lower probability that they may be imposed. »»
Trump’s latest price plan was unveiled in a week when he moved to transform the geopolitical landscape with a Renewed push to put an end to war In Ukraine with calls to Russian President Vladimir Putin and President Ukraine Volodymyr Zelenskyy.
While welcoming Narendra Modi, the Indian Prime Minister Trump criticized the traditional allies of the United States while seeming to extend a branch of olive tree to strategic enemies such as China and Russia. Trump even invited Russia to join the G7 group of rich nations after its suspension in 2014 for its annexation of Crimea.
“It is not a question of loving Russia or not to love Russia,” Trump told journalists at the oval office. “All you are talking about is Russia, and they should be seated at the table. I think Putin would like to be back.
Trump said he would include kyiv in all negotiations with Putin about the end of the war. He added that he would hold additional interviews with China and Russia for defense expenses in order to lower the defense budget by $ 850 billion in America.
He said he thought that the United States and China could have “a very good relationship”, adding: “I think China is a very important actor in the world, I think, [Beijing] Can help us make this war with Ukraine and Russia. »»
The president had particularly lively words for the EU, describing the long -term American ally as “very mean”. He criticized the block on his value added tax regime, his tax on digital services and efforts to reduce American technological companies in the courts.
“The European Union was very difficult for our businesses,” said Trump. “They continued Apple, they continued Google, they continued Facebook, they pursued many other companies and they are American companies. . . The justice system there is not very good for our companies. »»
During their meeting at the White House, Trump praised Modi as a “very special man” and spoke of the “special bond” between India and the United States.
But he also criticized New Delhi for his high prices and announced measures to increase American sales of oil and gas and defense with India In order to reduce the deficit, which exceeded $ 35 billion last year.
Trump said that he and Modi would begin “negotiations to combat long -standing disparities that should have been taken care of in the past four years” in order to sign a trade agreement.
Trump’s reciprocal tariff plan would be in contradiction with most of the established rules of world trade. The Officials of the White House said that they could use various legal powers to implement reciprocal samples, such as article 301 of the law on trade and the international law on economic powers, to bypass the congress.
Trump said he intended to issue other prices against cars, fries and pharmaceuticals “more” of reciprocal rates. He has already applied 10% levies from all Chinese imports and 25% prices on all steel And aluminum imports should take effect next month.
John Reed’s additional reports in New Delhi and Arjun Neil Alim in Hong Kong
