Trump announces the plan to impose just and reciprocal tariffs against US business partners, including allies

President Donald Trump signed a memorandum on Thursday that he requested “fair and reciprocal” commercial tariffs in all the main US business partners, including the allies for a long time.

The memorandum asks the Secretary of Commerce Howard Lutnick and Jamieson Ger, the official global trade representative of Trump, to evaluate within 180 days in a country report by country if the “remedies” that guarantee that reciprocal commercial relations are necessary . Russ Vought, Trump’s candidate to direct the powerful administration and budget office, will also submit a report within that period of time on the fiscal impact of instituting the measures.

In a call with journalists before the memorandum, the main counselor of the White House for trade and manufacturing, Peter Navarro, said that the world’s main export nets had created a commercial “pernicious and billion dollars commercial deficit with the United States .

“It is not surprising that Germany sells us eight times so many cars that we,” Navarro said. “President Trump will no longer tolerate that.”

To date, Trump has implemented only a set of rates that has announced: an additional 10% tax against Chinese imports in addition to existing tariffs. A 25% duty on steel and aluminum imports announced this week, as well as the 25% tariffs in the imports of Canada and Mexico that Trump suspended, would not enter into force until the first week of March.

Some investors and business groups have retreated in the impulse of the Trump rate, saying that prices are likely to increase for US consumers, although there is still disagreement about its last last last effect in the US economy.

Ford executives recently said that the car manufacturer would be dramatically affected by the levies in Canada and Mexico, and that, in general, “they would bury a hole in the American industry that we have never seen.”

February 3 report by him Brookings institution Estimated tariffs could lead to up to 177,000 job losses in the United States

On the other hand, JP Morgan’s CEO, Jamie Dimon, said that if they improve national security or result in more favorable concessions for the United States, tariffs would be worth it.

“If it is a bit inflationary but it is good for national security, so it is. I mean, suppose it, “Dimon Said during an interview at the World Economic Forum in Davos, Switzerland last month.

In comments on Capitol Hill this week, the president of the FED, Jay Powell, avoided the problem of tariffs, even as many economists say that their imposition could ultimately affect interest rates if they make economic activity slow , or prices increase.

“It is not the work of the Fed to do or comment on the rates policy,” Powell said. “That is for chosen people and it is not for us to comment.”