The president of the United States, Donald Trump, said It would impose higher tariffs to countries that buy energy from Russiawhile clarifying that the taxes to imports of semiconductors and pharmaceutical products would be announced “over the next week.”
A few days after Trump readjus its tariff plan, with rates between 10% and 41% about imports of its commercial partners, His new wave of threats and deadlines makes it clear that his attempt to remodel world trade in favor of the US is not over yet. This occurs even when the latest economic data suggests that the economy of your country is dealing with the consequences.
With a different approach to Asian giants, Trump announced that increasing “very substantially” tariffs on India in the next 24 hours, and accused the country of “feeding the bellic machinery” by buying Russian oil. In contrast, He claimed to be “very close to an agreement” with China to extend the commercial truce, which allowed reducing the increases in reciprocal tariffs and more flexible the export restrictions of rare earth magnets and certain technologies.
India, who hoped to attract manufacturers in the midst of Trump’s tariff offensive, will face double pressure: the announced president that next week taxes will be made known to imports of pharmaceutical products and semiconductor tariffs. Unlike Beijing, who used his dominance of rare earths in commercial negotiations with Washington, Delhi does not have that advantage.
Asian bags did not show a clear direction on Wednesday. The S&P 500 was about to reach historical maximums on Tuesday, before losing impulse.
Trump threatens to impose secondary tariffs on those who buy Russian oil, while redoubled the pressure on President Vladimir Putin to end the war in Ukraine. The Kremlin is weighing options such as an air truce with Ukraine to try to avoid such sanctions.
When asked if he would fulfill his previous threat of imposing tariffs on other countries, including China, Trump replied: “We will do enough of that.”
Trump said Tuesday in an interview with CNBC that he will advance with the increase in tariffs to India in particular.
“We have decided for 25%, but I think I’m going to increase it considerably in the next 24 hours, because they are buying Russian oil, ”Trump said. “They are feeding the war machinery. And if they are going to do it, I will not be happy.”
He also detailed the calendar and discussed the possible levels of US tariffs on semiconductor imports and pharmaceutical products.
“Initially we will impose a small tariff to pharmaceutical products, but in a year – or a year and a half – it will rise to 150%and then 250%, because we want them to be manufactured in our country, ”Trump told CNBC.
Trump said USA “gets along very well with China.”
“It is not imperative, but I think we are going to reach a good agreement,” Trump said.
Even so, Trump downplayed the idea that he would be anxious to meet with the Chinese president, Xi Jinping, and said he would only want to see his Chinese counterpart as part of an effort to conclude the commercial negotiationss.
“I will probably end up meeting before the end of the year, if we reach an agreement,” Trump said. “If we don’t reach an agreement, I’m not going to gather.”
“It is a 19 -hour flight, it is a long flight, but at some point in the not too distant future, I will,” Trump added.
The preliminary agreement between the US and China expires on August 12. That initial truce relieved the fears of a tariff war that threatened to suffocate bilateral trade Among the two greatest economies in the world, and gave more time to discuss pending issues, such as tariffs linked to fentanyl traffic.
Last week, US Treasury Secretary, Scott Besent, and the Vice Primer Chinese Minister, He Lifeng, met in Stockholm, in the third round of commercial negotiations between the US and Beijing in less than three months.
Although Chinese officials and the official newspaper of the Communist Party were satisfied with Stockholm conversations, the pact is still fragile. Besent had said that any agreement to extend it would depend on Trump.
