US President Donald Trump shares on April 10, 2025 at a cabinet meeting in the White House in Washington, DC, USA.
Nathan Howard | Reuters
According to Economist Erica York, President Donald Trump's tariff would basically end the greatest trade between this country and the USA for imports from China.
“It depends on how closely the tariff is used or how far it is used. However, if you generally receive a three -digit tariff north, you will do the most trade,” said the Vice President of Federal Tax Policy at the center for tax policy of the tax policy for the federal tax policy of CNBCs “The Exchange” on Thursday. “There can still be a few things without replacement that companies only have to play the bill, but for the most part it cuts them off.”
Her remarks came in the middle of the market, which had wiped out some of his monster profits on Wednesday. The market accelerated on Thursday, when an official of the White House confirmed to CNBC that the US tariff rate for Chinese goods is now 145%. This total amount includes the latest increase of 84%, which Trump announced on Wednesday, and a 20% fentanyl-related obligation that the president had previously entered into force.
York emphasized that the market is still not clear and says: “It is not as if the threat has disappeared completely”, since no clarity is expected until July if the tariff is planned.
On Wednesday, Trump announced that he temporarily reduced the collective bargaining prices for imports from most countries, except China, to 10% for 90 days. In a cabinet meeting on Thursday, the President refused to rule out the 90-day reparation.
Taking into account the China -Zölle, the 10%% taxes and other tariffs The sector has still led the country to its most protected attitude for decades, even with the break.
“It will take the average tariff rate for Hochs that we have not seen since the 1940s, so this is a main thing,” added the economist. “They are enormous cost increases. It is an economic hit. It is clearly not on a very good way.”
The Tax Foundation estimates that all new Trump tariffs will increase the federal tax revenue of the federal tax revenue by $ 171.6 billion for this year. That would make Trump's tariffs the greatest tax increase since 1993, more than the hikes among the two former presidents George HW Bush and Barack Obama, as the institution announced.
China said it will not flinch if the trading dynamics would escalate into a trade war. Only hours before Trump's tariff break announced, China increased its retaliation for US imports from 34% to 84%, which came into force on Thursday.
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