US President Donald Trump has threatened to open new fronts in his tariffs war by announcing reciprocal levies on other countries as soon as Tuesday, branding this "the only fair way" to trade.
USA - US President Donald Trump has threatened to open new fronts in his tariffs war by announcing reciprocal levies on other countries as soon as Tuesday, branding this"the only fair way" to trade.
One approach is to hike tariff rates on imports to match the rate that other countries apply to US products, said Goldman Sachs analysts in a note. If officials go by average tariff rates applied on all products, countries like India or Thailand -- which tax imports at higher average rates than the United States does - could be affected.
Goldman Sachs estimates that"there should be no effect on countries with free trade agreements like Mexico, Canada, and Korea, limiting the overall impact" if Washington took a country-based approach to reciprocal tariffs.It remains unclear if Trump views the policy of reciprocal tariffs as an alternative to a 10-20 percent universal tariff he floated on the campaign trail - or a separate policy.
"One of the objectives is to create uncertainty as a negotiating tactic, but uncertainty is a tax on doing business," Jeffrey Schott, senior fellow at the Peterson Institute for International Economics, told AFP.
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