10 countries that have Trump’s highest import rate, most Asian countries

Washington – President Trump On Wednesday, he announced what is called a reciprocal rate of imports from about 90 countries that are more than 10% of full tax applied to all imports to the United States.

Describe the announcement as “Liberation Day,” the president said new taxes were needed to eliminate trade deficits between the United States and other countries, from China to the European Union.

Some countries will only face universal rates of 10%, while imports from dozens from other countries will be subject to a specific mutual import. For example, Australian imports will have a basic rate of 10%, while China will have a rate of 34%.

“Realturn. That means they do and we do them to them,” Trump said in his observations on Wednesday, he reported Cbs.

“Asian countries will face the worst load, Camboya faces a 49% tax rate and Vietnam 46%,” according to the head of Economist at national level, Kathy Bostjancic. In addition to the 34% reciprocity rate of China, imports from the country will also have a 20% rate announced above, so that the country’s total rates of the country become more than 60%, he added.

Trump also said the allegation would increase domestic manufacture and equalize with other countries that use higher rates in US imports than those used by the United States for their products. However, economists estimate that the fare will make inflation increase again, while encouraging some commercial partners to respond with higher rates about American imports to their country.

If the rate remains imposed by the Trump government and if other countries charge a response rate, both the United States and other countries will “experience a serious recession,” said Moody’s Analytics Moody’s Chief of Economists in Email A CBS MONEYWATCH.

10 countries that have Trump’s highest import rate, most Asian countries

1. Lesoto 50%
2. Kambodia 49%
3. Laos 48%
4. Madagascar 47%
5. Vietnam 46%
6. Sri Lanka 44%
7. Myanmar (Burma) 44%
8. Mauricio 40%
9. Guyana 38%
10. Bangladesh 37%

When will this rate come into effect?

The reciprocal rate will enter into force at 12:01 pm on April 9th. The tariff is a basic 10% rate that came into force at 12:01 pm on April 5th.

How did the Trump government decide on what rate will be charged in which country?

Trump said his government has determined the rates for each country based on the monetary exit imposed by these countries in US imports, as well as non -monetary commercial barriers such as the regulations that made it difficult to enter the market. The president added that the tariff of reciprocity was still just half of the rates that these countries impute on the US products and called their new exit as “good”.

(AHM)