A gigantic blow to global trade: If Donald Trump realizes his announcements about customs customs partners, Trade turnover could decrease by 2.5 percent. In the first year and 4 percent in the long run – calculated if Kiel. The US President announced that he would introduce universal duties for all commercial partners in the amount of 10-20 percent. Higher tributes would pay China (60 percent) as well as Mexico and Canada (25 %).
Ordinary Americans will pay: For now, duties have not come into force. Donald Trump “barely” ordered a detailed analysis of commercial agreements and the scale of trade deficits with individual countries. The effects of these analyzes are to be known until April 1, 2025. It has already been calculated, however, that American households would remain charged with an additional account of $ 2,600 Annually, if the duties really came into force.
The European Union would also suffer to a large extent: Economy of the Community States It would lose up to 2.0-2.2 percent by 2027 in the event of a broad trade war. “The EU faces difficult elections because the US is the most important trading partner of the Union in both freight, service and investment trade. One in five goods go to the American market” – note the analysts of the Polish Economic Institute.
Meanwhile, Donald Trump exacerbates the course towards Europe: The US President during a virtual speech at the Economic Forum in Davos, accused the EU of using the United States. – The Union treats us very unfairly, very bad. Europe imposes a very high and very bad tax on the USA – he said, but did not explain what tax he meant. – They do not buy our agricultural products, they do not buy our cars, but they cover us with millions of their own – he added. He accused the EU that he imposed “Uncomfortable and non -monetary duties”which make it difficult to export American products to Europe. He added that in terms of various fees Europe is worse than China.
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Sources:, IAR
Source: Gazeta
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