Trump had said that countries would face a tariff rate at half the level they charge the US, as deemed by the White House, with a minimum tariff rate of 10 percent, saying that the calculation included non-monetary trade barriers and currency manipulation.
The 14 percent tariffs imposed on Nigeria, according to Trump, is against 27 percent charged to the US by Nigeria.
The new tariffs, which affected 185 countries, has therefore, ended months of anxious wait and uncertainty, which had plummeted stocks around the US, Europe and Asian markets.
The moves today are the latest escalation of a trade war that also includes plans to impose 25 percent tariffs on all foreign-made vehicles this week.
Accordingly, Trump slammed a baseline tariff of 10 percent across all countries, while upping the duties for various partners whom he described as bad actors with country like Lesotho getting as much as 50 percent levies on their exports to America.
While unveiling the tariffs, Trump stated he could have gone higher by imposing higher tariffs to match what each country charges to US.
“The tariffs will be not a full reciprocal,” he said. “I could have done that, yes, but it would have been tough for a lot of countries who didn’t want to do that.”
from Vanguard
And eventually, every cent he imposes on any product will be paid by the American consumers. Wetin concern importer wt tariff? He wud just adjust his calculation and add it to the price of the commodity and consumer will pay for it. Trump is to America what Tinubu is to Nigeria.
ReplyDeleteSharap .if consumers no Wan pay make e rest . Anybody force them to consumer what they can't afford?
DeleteI'm telling you just the same way our government keeps increasing tariffs of network providers.
DeleteWho are the people feeling it? No be we the citizens. Any tariffs increments they just adjust the price of their goods and services for the consumers.
You are right 👍👍👍
DeleteI just going to make my own things and shop local. We may all become healthier from these tariffs when we give up some of these toxic products that we think we much have. Let the tariffs get us into better health and longer living.
ReplyDelete