Trump, Vietnam and China
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Reuters |
Export-reliant Vietnam is hoping to get the duties reduced to a range of 22% to 28%, if not lower, according to three people with knowledge of the matter.
USA Today |
Trump's tariff rollout includes a 10% tariff on imported goods across for a majority of countries worldwide, but other nations were hit harder.
USA Today |
Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.
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Despite promises made by Southeast Asia governments, consumers in the region may not be able to afford American-made products.
14hon MSN
The White House is now negotiating trade deals with dozens of countries after President Donald Trump paused the worst of his sweeping tariffs for 90 days, with foreign countries suggesting the pause will give them breathing room as they seek to reach deals with the Trump administration.
Several countries are responding to Trump's tariffs with additional import taxes on U.S. products. Trump has said that if countries retaliate, he will increase the "reciprocal" tariffs on that country.
Vietnam is also seeking a delay to the 46% import levies announced by President Donald Trump earlier this week.
16hon MSN
Trump has used the IEEPA as the legal justification for his tariffs, as the president first levied tariffs on China, Canada and Mexico before issuing—and then paring back —more sweeping tariffs on most foreign goods.
Some say the abrupt 180 has only made things more confusing as the world attempts to navigate Trump’s trade war.
Trump dumped other countries' tariffs for now but bumped China up to 125%. Experts advise against panic-buying if it puts you in debt.
Katz Leatherette Co. buys most of its materials from China, whose goods now face a 104% minimum tax imposed by President Donald Trump. "It's just devastating," the owner said.