The world is preparing to respond to the trade war launched by Donald Trump , “reciprocal tariffs” as in the title, next to the coat of arms of the President of the United States, of the document distributed to journalists on the lawn of the Rose Garden of the White House from which the US President launched his offensive.
In the text, eight pages , the tables that illustrate country by country the duties intended to hit friendly and enemy countries . It can be summarized as follows: a basic tariff of 10% that will be applied, from April 5 , to all countries (for example the United Kingdom, Australia, Brazil); and personalized tariffs, in force from April 9 , for the "worst" countries, that is, those that have imposed duties or taxes on American products and that have large trade surpluses with the USA. Like the EU, for which the tariff is 20% according to American calculations that foresee a value equal to half of what is imposed on them: in the case of the EU, 39% between duties at 10% and taxes on added value at 20%.
Also confirmed are the 25% duties on foreign cars, already in force . With a threat: "Do not react or there will be an escalation."
And while Asian stock markets and Wall Street futures are collapsing , with gold hitting a new record, the response from the president of the European Commission, Ursula von der Leyen , arrives: "We are in a storm" are her words. With the American duties "it is chaos. The consequences will be terrible for millions of people around the world . Millions of citizens will have to deal with an increase in costs. Medicines will come more, as will transport. Inflation will rise. And this will especially harm the most vulnerable citizens". "We are ready to react, but we are ready to negotiate, it is not too late. We will finalize the first package of countermeasures on steel and prepare others". "Now we will also convene strategic dialogues with the steel, automotive and pharmaceutical sectors. And others will follow".
Sardinia is also trembling: 60% of the production of Pecorino Romano is destined for the United States with a heavy backlash that could also affect the wine sector.
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6:20 – Taiwan, 'US duties unreasonable, start serious negotiations'
US President Donald Trump's tariffs are "highly unreasonable" and the Taiwanese government planned "serious negotiations" with Washington, Taipei said on Monday.
5:50 – Von der Leyen, 'we will stand by the sectors hit by the duties'
"Europe will stand by those who will be affected" by US tariffs. "We have already announced new measures to support the steel and car sectors. Last week we limited the amount of steel that can be imported into Europe without tariffs. This will give more breathing space to these strategic industries. We will now also convene strategic dialogues with the steel, car and pharmaceutical sectors. And others will follow."