President Donald Trump announced up-to-date tariffs on Wednesday – taxes on imported goods – which can cause a global trade war and threaten to enhance the prices of everything, from food to cars in the United States.
Trump called the “Liberation Day” event and argued that up-to-date taxes would force companies to restore production places to the United States. “
This is our declaration of economic independence – said Trump on Wednesday. “Over the years, difficult -working American citizens were forced to sit on the side when other nations became wealthy and powerful, largely at our expense. But now our turn to Prosper.”
Economists say that new taxes will be donated to US residents as a result of higher prices, which Republicans warned voters in recent days.
“I don’t guarantee that it will work perfectly,” said the Republican Republican Republican Republican Republican. “But I think the president has enough information and [Commerce Secretary] Howard Lutnick and others involved here to do it in a tariff plan, which is significantly beneficial to the United States than for other countries. “
In addition to higher prices, American companies that export goods around the world will almost certainly be encountered by mutual taxes from other countries as part of the global trade war.
“Europe has not started this confrontation” President of the European Commission Ursula von der Leyen said on Tuesday in a speech. “We don’t necessarily want to take revenge, but if necessary, we have a powerful plan to subdued and operate it.”
Here’s everything we know and we don’t know about the new round of Trump’s tariffs:
»Read more: Josh Shapiro says “people will suffer” and the Republicans have mixed views on Trump’s tariff plan
Which countries will have up-to-date tariffs?
Trump announced on Wednesday that the tariffs will allow the US to adapt to what other countries tax imports from the United States. In one example, Trump quoted India, which has a 40% tariff for imported motorcyclesWhile the United States takes only 2.4% of the tariff.
“Mutual – this means that they do it to us and we do it to them,” said Trump on Wednesday in the White House. “Very straightforward. I can’t get simpler than that.”
Trump said that the basic tariff of 10% in all countries would come into force, but the chart shown during its announcement showed different rates for some countries.
Goods from China will be affected by 34% tariffs, while the European Union will be hit with a 20% tariff. Vietnam will face 46% tariff for imported goods that It can affect the costs of Nike products and other sportswear brands.
The president earlier said that he would place a 25% tariff on countries that import pus or gas from Venezuela, and 25% tariff for all car imports to the United States It is to come into force at midnight, which would later expand to car parts.
When will the tariffs come into force?
The new Trump’s tariffs will come into force immediately after being announced on Wednesday afternoon, the press secretary of the White House Karoline Leavitt said earlier.
How will the tariffs affect Philadelphia and Pennsylvania?
It remains unclear.
Pennsylvania imports over $ 14.2 billion goods from Canada, the largest trading partner of the community of nations, all of which could increase – everything, from oil to chocolate to chocolate to substances used for treatment.
In addition, companies from Pennsylvania export billions of dollars of goods to Canada and other countries around the world, where the countries are expected to introduce their own mutual tariffs. This includes milk, cheese and yogurt, which brought over $ 2 billion dollars of gross income for the agricultural sector in Pennsylvania in 2023. Most of them are exported to Mexico and Canada, but Chile, Malaysia and Japan are also the highest locations for exports for Pennsylvania farmers.
“The economy of Pennsylvania depends on international business and it looks like trade,” said Inquirer Lauren Swartz, general director of the World Council of the World Council in Philadelphia. “Doing things that limit our ability to access this 96% of the world that lives outside the US, and 74% of global economic growth that will take place outside the US will be felt here at home.”
»Read more: Philly car dealers are preparing for higher prices because the tariffs occur this week
What tariffs are already in force?
The United States currently imposes a 20% tariff on the entire import of China and 25% on all steel and aluminum imports.
Why is Congress not involved in the tariff?
Pursuant to the US Constitution, Congress has the right to impose “taxes, obligations, fraudsters and excites” and regulating foreign trade. But For years, Congress has transferred part of his power to the President and the Executive DepartmentMovement, some legislators should be examined again.
“In the past, we adopted provisions that gave the president some momentary tariff authorities” Rep. Don Bacon (R., neb.) He said during an interview at CNN last week. “I think we should look back and can restore power to the congress and take the permits that we allowed the president.”
The Senate is to vote for application Wednesday, which would withdraw the National Emergency Declaration, enabling Trump unilaterally imposing tariffs to Canada, allegedly due to the flow of illegal drugs to the USA
While the proposal is sponsored by Democrats, at least four republican senators – Lisa Murkowski from Alaska, Mitch McConnell and Rand Paul from Kentucky and Susan Collins from Maine – signaled their support for the act. Paweł is one of the nine Bill hemps.
“Maine economy is integrated with Canada, our most vital trading partner,” said Collins on the Senate floor on Wednesday. “Tariffs for Canada would be harmful to many Maine families and our local economies.”
Even if the law expires in the Senate, he would be dead after arriving at the controlled chamber with a republican. Trump also said that he would veto the proposal In an unlikely event he ends at his desk.
