Although US President Donald Trump argued in March that “duties are easy”, he himself, his government and the whole world, found it to be a more “complicated” affair.
As the Guardian says in his analysis, Trump’s plan was simple: to impose duties on imported products to fill the federal government’s funds. Dollars, cut taxes for Americans, attract investment in the industrial heart of America by creating millions of jobs.
“But the drastic effort to restructure the global economy has proved to be a much more complicated” in the last four months, the British newspaper writes, noting that repeatedly in the last four months, the reality has failed to “match” its rhetoric. His threats were followed by postponements and exceptions of some countries from supposedly universal duties, which even when they were imposed, in just 24 hours their cessation was announced.
Trump returned to the Oval Office last January “determined to ignore all the warnings that led his first government to hesitate to implement his most extreme ideas, the Guardian said. Long before, the president returned to the White House, had pledged to increase duties to his country’s two largest trade partners and launch a trade war with the world’s second -largest economy. Sweet duties followed in dozens of other countries.
But every major financial attack has prepared the ground for a quick retreat, as it appeared from the almost complete suspension of duties in Canada and Mexico. Individual duties calculated for a series of US trade partners decreased to 10%. An outrageous 145% duty imposed by Trump on Chinese products declined drastically after a few weeks.
Landing in fact
Not that Trump changed his opinion on the duties, but the panic they triggered in the markets prompted his government to retreat, although initially appeared to be irrevocable. And warnings that voters who brought him back to power would bear the main burden of his duties have pushed the Republican president, after initially downgrading the dangers, to make second thoughts.
The consequences in the real world, which are not in line with Trump’s narrative, have so far brake its economic agenda, and a new development last Wednesday threatened to derail the core of his plan when a US court specialized in international trade issues. President, judging that only Congress has the ability to make decisions to take such measures.
It was not even 24 hours when the Trump duties temporarily reinstated the Trump duties, but undoubtedly the primary decision was a major setback for his plans.
“Whatever happens with this case, it is unlikely to force Trump to change his financial agenda fundamentally, as the ruling of the US International Trade Court was not about whether Trump had to launch attacks on duties, but how.
“Despite Trump’s commitments, most Americans have not become ‘sneaky’ thanks to his tariff measures, nor did the duties filled the state funds. dollars or created millions of jobs. In his eyes, however, they remain “beautiful”, “the Guardian commented.
“Do not predict that this will be the point where we will reach,” said Greta Pasis, a former general adviser to the US Commercial Representative Office on Joe Biden. “There will be a lot of ups and downs before we get to the point where the final basis for duties under this government will be.”
Source :Skai
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