This weekend, President Trump's hand -cleaning fees in Canada, Mexico, and China destroys the global economic order, mainly in the world's trade systems and the US economy that once praised open investment and free market. I am threatening.
The speed and range of import obligations announced by Presidential orders on Saturdays has urged many legislative criticisms from many members, economists and business groups. The tariffs collected in response to Mr. Trump's concerns regarding Fentanil's smuggling and illegal immigration could burn inflation, inconvenience the American industry, and make China a more powerful world trade hub. I warned.
Sunday Trump defended tariffs, acknowledging that there could be some negative results.
“Is there any pain? Yes, maybe (and maybe not!),” He wrote on social media.
The administrative order is a 25 % tariff, excluding 10 % of all products imported from Canada and Mexico at 12:01 am on Tuesday, except for Canada's energy products. It means to be. All Chinese products also face 10 % tariffs.
Canada and Mexico have pledged to retaliate quickly with their own tariffs, and said that China would pursue an indefinite “countermeasures” to protect their interests.
Peter Navaro, Trump's senior trading advisor, said on Sunday reports that there was a low possibility that tariffs would stop at the last minute.
“The size of this specific problem is huge,” Navaro pointed to a drug that killed Americans in the United States. “It's time to stop the massacre.”
Mr. Trump's tariff was clearly briefed for several months, but they were wider than many expected analysts. The President's top economic assistant, including President Scott Bessent, defends the use of tariffs, but is used as a tool for negotiations or gradually used gradually to adjust. It suggests that it should be.
“Customs guns are always loaded and loaded on the table, but they rarely be discharged,” Bessent wrote a letter to a Hedge Fund's Keisquar Group's partner.
However, Trump did not use tariffs as a weapon for the largest trade partner in the United States.
Economist stated that the pain in the escalating trade war could be in the form of a slower economic growth.
“The rapid increase in US inflation from these tariffs and other future measures will be faster and bigger than we had expected,” said Paul, a Supreme Economist in North America. Ashusworth says.
Mr. Trump legally justifies the duty to impose tariffs on countries that have trade agreements with the United States, using the rare, unknown national security law.
During his first term, Trump promoted a rewriting of the North American free trade agreement. This was criticized as the “worst” trade agreement so far, and ultimately signed the United States and Mexico Canada. He has also reached a trade contract with China, which demanded Beijing to purchase a certain level of products from the United States. These promises are not satisfied.
Trump's legal basis for tariffs is likely to be challenged by an American court. You can also reveal that the president will negotiate with the United States with the United States, fearing that the president can use his emergency to dispose of Arbitrarilyy.
“If the President is a pen stroke and there is no legitimate reason, if it completely overturns the North American supply chain, which has been in place for more than 30 years, why the foreign government spends all the political capital necessary for admission. Is it not possible? In the trade agreement, Scott Linsicom, Vice President of Kato Research Institute, which supports free trade?
Linsicom stated that the uncertainties that the United States is working on international commercial transactions only bring profits to China, where Republican members and the Democratic members are mainly considered economic enemies.
Mr. Trump has already threatened to impose universal tariffs on all imports, along with additional taxation to the European Union. These movements can encourage more countries to deepen their economic relationships with China. Customs duties have already stabbed a soft economy in China, but the confusion of the US supply chain and Mr. Trump's plan to leave the investment in clean energy and electric vehicles are ultimately the second largest in the world. It can benefit the economy.
“Beijing has long been searching for a way to drive wedge between the United States and its allies. The tariffs on the closest partner in the United States will make this much easier,” Johns Hopkins Advance International. Jonas Narm, a Study professor and former professor of an industrial policy, said. Economist of the Biden administration.
Congress theoretically, can take action to disable tariffs, but there seems to be no political will for such efforts.
Democrats, who tend to accept protectionist trade measures, have criticized Mr. Trump's actions reckless, but has little influence because of the minority of Congress. “Donald Trump should be able to focus on lowering prices, rather than raising prices,” said New York Democratic Party and Senior Leader Chuck Schumer.
Most Republicans, who are traditionally concerned about tariffs, seemed to be silent or lined up with Trump. One of the few opponents was Senator Land Paul, a Kentucky Republican member.
“The conservatives once united against new taxes,” Paul wrote on social media. “Taxed trade means that trade decreases and prices rise.”
Don Bacon, the representative of Nebraska, represented the districts won by Camara Harris last year, one of the most vulnerable Republican members in the House of Representatives, and has expressed skepticism of the policy. He said he was confused about using tariffs to negotiate a better trade contract with Canada.
“We have already signed a trade agreement and it was a good trade agreement,” he said. “It is difficult to make the circle square. We will check what the impact is over the next few weeks. Maybe we have a chance to reconsider at that point.”
Bacon did not completely criticize Trump, but carefully tried to provide language advice. “I recommend focusing on China and Russia,” he said.
Pushbacks from major industry groups that have endured tariffs are not suppressed. All US spirit, automobiles, and agricultural products are ripe targets for retaliation from Canada, Mexico, and China, and retaliation tariffs can hit the US economy.
The large -scale lobby activity group urged the Trump administration to consider other methods to deal with border and fentanyl concerns, and warned that tariffs would harm only American workers and companies.
“Eventually, manufacturers are stuck on these tariffs and impairs the ability to sell our products at competitive prices, and to risk the US employment.”
Representatives of the agricultural profit, who was hit the most during Trump's first term of trade war, warned that Trump put a sector in a “harsh place” on Sunday.
“Family and ranch families answered American families and calls to develop the world, and retaliation, which promised tariffs, will help them stress their livelihood,” said Zippy Duvall, Chairman of the United States Federation. I mentioned.
Annie Carni Contributed report.
