Many countries around the world face the possibility of much higher duties on their exports to the United States on Friday, which is a possible blow to the global economy, because it has not yet reached a business deal with the Trump administration.
Some of the largest commercial partners in the United States They reached agreementsOr at least the outlines of the other, including European Unionthe UKAnd Japan. However, these countries face a much higher tariff than before Trump took office. And the other big trading partners – the most prominent of them China and Mexico – He received an extension of the continuation of negotiation and will not be hit by new duties on Friday, but they are likely to end up paying more.
President Donald Trump intends the tasks to return manufacturing For the United States, while other countries were also forced to reduce their commercial barriers against US exports. Trump argues that foreign exporters will pay the cost of definitions, but so far economists have found that most American companies are paid by American companies. Our inflation measures The brand started higher With the high prices of imported goods, such as furniture, devices and games.
For those countries without agreement, they may face duties of up to 50 %, including large economies such as Brazil, Canada, Taiwan and India. Many smaller countries on the right path to pay more, including South Africa, Sri Lanka, Bangladesh and even Litcho Little.
The duties arose from Trump April 2 “Liberation Day” Announcing that the United States will impose import taxes of up to 50 % on nearly 60 countries and economies, including the European Union 27 countries. Then these duties, which were already scheduled for April 9, were postponed twice, first to July 9 and August 1.
Will the deadline carry this time?
From Thursday noon, the White House representatives – and Trump himself – insisted that there is no longer any possible delay.
White House journalist Caroline Levitte said on Thursday that Trump “is” at noon this day or later this evening “will sign an order to impose new tariff prices starting from midnight on Friday.
Levitte said that countries that have not received a speech about Trump’s tariffs or negotiating on a commercial framework will be notified of possible tariff rates, either in the form of a speech or executive order for Trump. At least twenty The two countries were sent messages Determining customs tariff rates.
On Wednesday, Trump said on his social media platform, “The first deadline in August is the first deadline in August – he stands strong, and will not extend.”
What countries have a commercial agreement?
In a wave of making a deal at the last minute, Trump announced agreements late on Thursday, but it is largely short in detail.
On Thursday, the United States and Pakistan It reached a commercial agreement Washington is expected to help in developing Pakistan to a largely undesirable Oil reserves And the low definitions of the country of South Asia.
On Wednesday, Trump announced a deal with South Korea, which will impose a 15 % tariff on goods from this country. This is less than 25 % fees that Trump threatened in April.
Agreements were also reached with the European Union, PakistanIndonesia, Vietnam, The PhilippinesAnd the United Kingdom. The agreement with the Philippines barely reduces the tariff that will push it, from 20 % to 19 %.
And any countries not?
The exact number of countries facing higher duties is unclear, but the majority of 200 did not make deals. Trump has already slapped great duties on Brazil and India even before reaching the deadline.
In the case of Brazil, Trump signed an executive order late on Wednesday that imposes a 50 % duty on imports, although he gave many large groups, including aircraft, aluminum and energy products. Trump Angry with the Brazil government Because she is trying her former president, Gear Bolsonaro, for his attempt to cancel his loss in the elections in 2022. Trump was charged on a similar charge in 2023.
While Trump has sought to justify the large -scale definitions as an effort to combat chronic trade deficit in the United States, the United States has already has a trade surplus with Brazil – which means that it sells more goods and services to Brazil more than it bought from this country.
Negotiations between the United States and Canada have been complicated by the Canadian government’s declaration that it would recognize a Palestinian state in September. Trump He said early Thursday This announcement “will make it very difficult” for the United States to reach a business deal with Canada.
Late Wednesday, Trump said that India would take place Pay a fee of 25 % From all its exports, partly because it continued to buy oil from Russia.
On Thursday, the White House said it extended the deadline for a deal with Mexico for another 90 days, noting the complexity of the commercial relationship, which is governed by the commercial agreement that Trump reached when he updated NAFTA in his first term.
For the smaller countries that occurred in Trump’s crosses, the deadline on August 1 is especially difficult because the White House acknowledged that it is unable to negotiate with every country facing tariff threats. Lisuto, For example, a small country in South Africa was hit with a 50 % duty on April 2, and despite its postponement, the threat has already destroyed the clothing industry, as it cost thousands of jobs.
“There are 200 countries,” the president admitted Earlier this month. “You can not talk to them all.”
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AP Josh Boak and Wyatte Grantham-VHILIPS book contributed to this report.
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