Trump increases customs duties over dozens of countries

US President Donald Trump signed an executive order last Thursday evening that determines the value of the new customs duties that will affect the products of dozens of countries, causing confusion in the global economic system with these commercial barriers that will have the most severe for Canada and Switzerland.

And after she was afraid of higher proportions, some Asian countries received the satisfaction of these new drawings that are added to the proportions imposed on them before Trump returned to the White House.

The White House, aspiring to “restructuring global trade in a way that benefits American workers”, has set a period for a few days before the new fees entered the imports on the seventh of August, and not in the first of it as expected, to allow customs to organize collection operations, according to the White House official told the press.

Despite relief, Asian stock exchanges fell yesterday, after the issuance of these fees.

Experts warned that the new acquaintances threaten to curb trade exchanges, increase costs on companies, raise prices on consumers and cause the global economy to slow down.

“There is no doubt that the executive order and the relevant agreements concluded in recent months, departing from the rules of trade that have ruled international exchanges since World War II.”

She added, “The question remains on whether our partners can maintain it without the United States.”

For some countries that have reached understandings with the United States, they will apply to them – according to the decree – the identification that was agreed upon months after negotiations during which Washington sought to extract the largest possible number of concessions, without being exposed to corresponding measures on American exports.

In this context, fees were set at the level of 15% on the products of the European Union, Japan and South Korea, and 10% on the United Kingdom’s products. The European Union also obtained an exemption from fees for basic sectors.

On the other hand, the surprise was severe for countries such as Switzerland, which relied on negotiations, and is now facing additional fees by 39%, which is much more than the promises they received in April (31%). The Swiss federal government responded, confirming its desire to continue negotiating with the American administration. The United States is a head of the Swiss exports, in front of which are medicines, watches, cheese, and chocolate, in addition to coffee and machine capsules.

The same applies to Canada, which Trump increased customs duties to its products that are not covered by the North American Free Trade Agreement (NAFTA) from 25% to 35%, taking Ottawa that it “failed to cooperate to reduce the flow of (fentanel) and other drugs” to the United States, and “took retaliatory measures against the United States”.

It imposed the highest customs duties on Syria, as it reached 41%, followed by Ous (40%).

Several Asian countries, which are relying on the American market, have been satisfied with imposing fees on them, the lower than what the American administration has mainly indicated.

Among these countries is Thailand, which was imposed by 20% fees, compared to 36% was basically imposed, which praised “great success”, and Cambodia (19% instead of 49% in the first place), which welcomed “the best possible news.”

Taiwan expressed its hope to obtain an additional reduction in the tariff, after she was 32% threatened in April.

Mexico was the only survivor of the executive order, as it had a 90 -day deadline before any possible increase in customs duties on its products.

On the other hand, the American administration punished Brazil earlier this week, by imposing additional fees by 50% on its products, except for exceptions.

Trump justified this action that he took a response to the prosecutions against former Brazilian President Jayer Bolsonaro, his ally from the extreme right, on charges of attempting to coup, after his defeat in the 2022 presidential elections in front of current President Luis Inacio Lula da Silva.

Ironically, a federal appeal court in Washington began Thursday to consider an appeal to determine whether Trump exceeded his constitutional powers by imposing these strict fees without passing through Congress to agree to them.

The appeal presented by small companies and about 10 American states deals with the generalized customs duties imposed by Trump on all imports to the United States.

The prosecutor’s lawyer has specially condemned “an unprecedented power of power by a president for 200 years.”

The White House previously announced that it would file the case to the Supreme Court if an opposition decision was issued.

. Some Asian countries have received the new drawings that are added to the proportions imposed on them before Trump returned to the White House.