Trump's tariff plan: Potential 20% levy on all imports
The Washington Post reported on Tuesday, citing three sources, that White House advisers have prepared a draft to impose an approximately 20% tariff on most imports to the USA. Experts warn that implementing this plan could shake the global economy.
Authorities in Washington have indicated that several tariff proposals are on the table, and a final decision has not yet been made.
From our perspective, the proposals currently on the table fail to address our primary concern—resolving the underlying causes of the conflict. This key issue is entirely missing and needs to be rectified.
On Sunday, Trump announced that the mutual tariffs this week would cover all countries maintaining trade relations with the USA.
You'd start with all countries. Essentially all of the countries that we're talking about, declared the president. He added that he plans to introduce a package of mutual tariffs against countries that charge fees for exports from the USA, to level the playing field.
The American leader announced the presentation of a comprehensive plan regarding tariff policy on Wednesday, which he called "Liberation Day." So far, the US administration has imposed tariffs on aluminum, steel, and cars and raised tariffs on all goods imported from China.
Sources close to the matter have indicated that Trump can always change his mind, although in recent days, he has pushed for universal tariffs and views it as a more straightforward solution.
"The most aggressive actions on tariffs"
Despite many details remaining unknown, even to Trump himself, the "America's Liberation Day" could be the "most aggressive" action in the field of tariffs taken by the "president with the greatest obsession with tariffs in modern history," CNN assessed on Tuesday.
Last year, the USA recorded the largest trade deficit with China, the European Union, Mexico, Vietnam, Taiwan, Japan, South Korea, India, and Canada. ABC News emphasises that mutual tariffs could increase the prices of imported goods in the American market.
