.jpeg)
Trump
tariffs come into effect in ‘seismic’ shift to global trade
‘Baseline’
10% import levy takes effect at US seaports, airports and customs warehouses on
Saturday, with some higher tariffs to begin next week
Reuters
Sat 5 Apr
2025 06.26 BST
US customs
agents began collecting President Donald Trump’s unilateral 10% tariff on all
imports from many countries on Saturday, with higher levies on goods from 57
larger trading partners due to start next week.
The initial
10% “baseline” tariff took effect at US seaports, airports and customs
warehouses at 12.01am ET (0401 GMT), ushering in Trump’s full rejection of the
post-second world war system of mutually agreed tariff rates.
“This is the
single biggest trade action of our lifetime,” said Kelly Ann Shaw, a trade
lawyer at Hogan Lovells and former White House trade adviser during Trump’s
first term.
Shaw told a
Brookings Institution event on Thursday that she expected the tariffs to evolve
over time as countries sought to negotiate lower rates. “But this is huge. This
is a pretty seismic and significant shift in the way that we trade with every
country on Earth.”
Trump’s
Wednesday tariff announcement shook global stock markets to their core, wiping
out $5tn in stock market value for S&P 500 companies by Friday’s close, a
record two-day decline. Prices for oil and commodities plunged, while investors
fled to the safety of government bonds.
Among the
countries first hit with the 10% tariff are Australia, the UK, Colombia,
Argentina, Egypt and Saudi Arabia. A US Customs and Border Protection bulletin
to shippers indicates no grace period for cargoes on the water at midnight on
Saturday.
But a
bulletin from the agency did provide a 51-day grace period for cargoes loaded
onto vessels or planes and in transit to the US before 12.01am ET Saturday.
These cargoes need arrive to by 12.01am ET on 27 May to avoid the 10% duty.
At the same
hour on Wednesday, Trump’s higher “reciprocal” tariff rates of 11% to 50% are
due to take effect. European Union imports will be hit with a 20% tariff, while
Chinese goods will be hit with a 34% tariff, bringing Trump’s total new levies
on China to 54%.
Vietnam,
which benefited from the shift of US supply chains away from China after
Trump’s first-term trade war with Beijing, will be hit with a 46% tariff and
agreed on Friday to discuss a deal with Trump.
Canada and
Mexico were exempt from both Trump’s latest duties because they are still
subject to a 25% tariff related to the US fentanyl crisis for goods that do not
comply with the US-Mexico-Canada rules of origin.
Trump is
excluding goods subject to separate, 25% national security tariffs, including
steel and aluminium, cars, trucks and auto parts.
His
administration also released a list of more than 1,000 product categories
exempted from the tariffs. Valued at $645bn in 2024 imports, these include
crude oil, petroleum products and other energy imports, pharmaceuticals,
uranium, titanium, lumber and semiconductors and copper.
Except for
energy, the Trump administration is investigating several of these sectors for
further national security tariffs.
Sem comentários:
Enviar um comentário