Trump rolls out sweeping new tariffs

Trump rolls out sweeping new tariffs

ER Editor: There are some major lessons – historical and economic – buried in this topic. We urge readers to dig a bit. The Rothschilds are (were) never far away, screwing America most notably starting around a century ago. Notice that Israel is getting 17% tariffs.

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MSM alerts for the following (Guardian and Politico) —

Trump hits UK with 10% tariffs as he ignites global trade war

Donald Trump has hit the UK with tariffs of 10% on exports to the US as he ignited a global trade war that could wipe billions off economic growth.

The US president accused other nations, including allies, of “looting, pillaging, raping and plundering” the US, as he announced tariffs on economic rivals including 20% on the EU and 34% on China as part of what he dubbed “liberation day”.

Downing Street, which had been expecting a 20% rate to be imposed on the UK, expressed relief to have escaped the higher rate. Keir Starmer’s more conciliatory approach to the Trump administration appeared to have paid off. …

He also hit out at “exorbitant” VAT rates, which he viewed as a barrier to US firms seeking to sell into markets such as the UK where the taxes apply.

Trump hits ‘pathetic’ Europe with 20 percent tariffs

President Donald Trump dumped the European Union in the worst category of America’s trade partners Wednesday, hitting the bloc with a 20 percent tariff on all imports. 

Trump’s “Liberation Day” announcement puts the 27-nation bloc in the trade sin bin along with major economies like China, Japan, Taiwan and Korea. The move throws up U.S. trade barriers that haven’t been this high since the Great Depression of the 1930s.

Trump said he was declaring a national emergency to impose a 10 percent tariff on imports from all countries. Aside from that, he imposed individualized additional tariffs on approximately 60 countries which he believes are the worst trade offenders. …

The Trump administration estimates the tariffs charged by the European Union to the United States at 39 percent, and cuts this figure by half to come up with the 20 percent, in what Trump labelled “kind reciprocal” tariffs.

The Trump administration took particular offense at what it views as the EU’s nontariff barriers, such as value-added tax and its tech regulations. It factored these into its calculations — although the Europeans flatly reject its view that either discriminate against American businesses.

WORTH LISTENING TO —

‘Saving Israel for Last’ —

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Trump rolls out sweeping new tariffs

The White House’s Liberation Day plan sets out broad, country-specific duties on US trading partners

RT

US President Donald Trump announced a sweeping new round of tariffs on Wednesday, as part of what he has branded his ‘Liberation Day’ plan, raising concerns about a potential global trade war.

Washington is introducing customs duties on all countries based on the principle of reciprocity, Trump has announced, calling it a day of economic independence for the United States.

The president confirmed that the 25% global tariffs on cars and trucks will take effect as scheduled on Thursday, while duties on imported automotive parts are set to take effect on May 3.

In his speech at the White House Rose Garden, Trump complained that “none of our companies are allowed to go into other countries.”

“That’s why, effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” he declared.

Trump claimed the reciprocal tariffs would usher in a “golden age” for the country, adding that “jobs and factories will come roaring back.”

According to a chart presented by Trump during his speech, the new tariffs will range from 10% to 50%, depending on the country. Washington will impose a 20% tariff on the EU, 34% levies on China, and 24% duties on Japan, among others.

Trump said Washington would implement “kind” reciprocal tariffs on all countries amounting to “approximately half” of what those nations charge the US.

“We will supercharge our domestic industrial base” and “break down” trade barriers abroad, he vowed, noting that ultimately this would entail lower prices for consumers.

“Our country and its taxpayers have been ripped off for more than 50 years, but it is NOT going to happen anymore,” Trump concluded, adding “We are finally putting America first.”

Source

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Published to The Liberty Beacon from EuropeReloaded.com

Trump rolls out sweeping new tariffs

Trump rolls out sweeping new tariffs

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Source: TLB