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Shkruar nga PamfletiAlso from October 1, tariffs of 25% will come into effect on imports of heavy trucks and 50% on kitchen and bathroom furniture and related products.
US President Donald Trump has announced a new round of steep tariffs on imports of a range of goods, from pharmaceuticals to trucks. It doesn't really matter that, for example, the deal with Europe, which stabilises most tariffs at 15%, took effect 24 hours ago.
Starting October 1, “we will impose 100% tariffs on every branded or patented pharmaceutical product, except in cases where a company is building its own pharmaceutical factory in America,” he wrote on his social network Truth, explaining that “construction will be considered a construction site in the start-up phase and/or under construction. Therefore, there will be no tariffs on these pharmaceutical products if construction has begun.”
A way to convince companies to move their production to the US, also because pharmaceutical products have been one of the main points of negotiation between Washington and Brussels aimed at tax exemption. But that did not happen: the 15% tariff was also applied to non-generic drugs, the only ones that were ultimately exempted. Now Trump is going further, perhaps because he fears that the market could absorb a relatively low customs duty without provoking that effect of shifting production to America. Better, then, to impose a tax that forces companies to relocate.
Also, starting October 1, tariffs of 25% on heavy-duty truck imports and 50% on kitchen, bathroom and related products will take effect. The decision, Trump wrote in Truth, was made because the United States is “inundated with these products coming from other countries. It is unfair and we must protect, for national security reasons, the manufacturing process.”
Europe has not even had time to enjoy the effects of the agreement, which must face new trade risks that will only be clarified in the coming hours. US tariffs of 15% on European products came into force on Thursday, September 25. The agreement reached in August is already operational. The pact, however, left out steel and aluminum, on which a 50% tariff follows.
The EU wants to improve the agreement. Trade Commissioner Maros Sefcovic met with his US counterpart Jamieson Greer just yesterday: “We are now working with the United States to see where we can find new areas for tariff exemptions and to work more closely to find cooperation structures, in particular for steel and other areas included in the framework agreement.” Negotiations are still at an early stage and will take time, despite Trump’s unexpected announcements.
And then comes the attack on Fed Chairman Jerome Powell: "Great economic data, but interest rates are too high," Trump wrote in Truth, referring to the US economy's growth in the second quarter, revised to 3.8%. "The good news is that we are moving faster than Jerome Powell's 'incompetence'," Trump emphasized, underlining that without Powell "we would be at 2%./La Repubblica
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