Trump’s new tariffs go into effect as US economy shows signs of strain
OF THESE TARIFFS COULD IMPACT OUR WALLETS MOST IN THE COMING MONTHS. >> THURSDAY, AS ANOTHER CONSEQUENTIAL DAY FOR PRESIDENT TRUMP’S TRANSFORMATIONAL TRADE POLICIES WITH NEW SO-CALLED RECIPROCAL TARIFFS TAKING EFFECT AFTER MONTHS OF DELAYS. THE PRESIDENT IS ADDITIONALLY PROMISING EVEN MORE TARIFFS IN THE FUTURE MONTHS AFTER PRESIDENT TRUMP’S INITIAL TARIFF ANNOUNCEMENT IN AFTER MULTIPLE DELAYS, THE PRESIDENT’S NEW TARIFF RATES. >> ARE TAKING EFFECT THURSDAY AS OUTLINED IN THIS EXECUTIVE ORDER FROM LAST WEEK, NEW TARIFF RATE RANGES FROM 10% ON A COUNTRY LIKE THE UNITED KINGDOM TO 41% FOR SYRIA. ONE COUNTRY TO WATCH IN A POSSIBLE IMPACT ON YOU, SWITZERLAND, WHERE THE NEW TARIFF RATE 39% NEARLY 4 TIMES HIGHER THAN GREAT BRITAIN LUXURY WATCHES AND SWISS WINE, CHEESE AND CHOCOLATE AS WELL AS PRECISION INSTRUMENTS ARE NOW ALL LIKELY TO SEE PRICE CHANGES. SWITZERLAND’S PRESIDENT WAS IN WASHINGTON ALL WEEK FOR MEETINGS TO TRY AND NEGOTIATE A BETTER RATE BUT HAS APPARENTLY LEFT WITHOUT A BETTER DEAL. AND ONE OF THE STEEPEST TRUMP TARIFFS ON THE PLANET. PRESIDENT TRUMP’S TARIFF RENZI DOES NOT APPEAR TO BE ENDING SOON. WE’LL BE PUTTING A TARIFF ON OF APPROXIMATELY 100% IN CHIPS AND SEMICONDUCTORS. THE PRESIDENT ANNOUNCED A PLAN FOR NEW TARIFFS ON COMPUTER CHIPS WEDNESDAY. IT HAS PREVIOUSLY TALKED ABOUT TARIFFS AND PHARMACEUTICALS MADE OUTSIDE THE U.S.. THE PRESIDENT ALSO HIT INDIA WITH A NEW TARIFF HIKE OF NOW 50% EFFECTIVE IN 3 WEEKS. THAT’S IN RESPONSE TO INDIA’S FREQUENT BUYING OF RUSSIAN ENERGY. PETER NAVARRO ADVISES THE PRESIDENT ON TRADE AMERICAN DOLLARS BY INDIAN PRODUCTS. AND THAT SETS IN MOTION WHERE THOSE >> DOLLARS FINANCE. >> A WAR. WHEN YOU ADD UP ALL OF THE TARIFFS THAT ARE NOW IN EFFECT FOR NOW WITH THE HIGHEST RATE ON AVERAGE FOR THE U.S. SINCE THE 1930’S. AND WHILE ECONOMISTS EARLIER THIS YEAR WARNED OF A MAJOR ECONOMIC IMPACT THAT HAS YET TO MANIFEST IN THE FORM OF SIGNIFICANTLY HIGHER INFLATION. TIME WILL ONLY TELL, THOUGH, MEANWHILE, THE TREASURY DEPARTMENT IS BRINGING IN BILLIONS OF NEW DOLLARS IN REVENUE FRO
Global financial markets are reacting to President Donald Trump’s tariff adjustments. Markets rose across much of Europe and Asia, while stocks are slipping on Wall Street. Trump started imposing higher import taxes on goods from more than 60 countries, including the European Union, Japan and South Korea. The higher import taxes are part of his strategy to reduce the U.S. trade deficit and encourage foreign investment in America. But there are signs of stalled hiring, rising inflation and declining home values. Trump is optimistic about economic growth. But many experts warn of potential long-term damage.
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