More day, another threat to duties. Donald Trump He continues to send his letters like missiles and has no intention of stopping. After hitting numerous commercial partners, he announces that one letter addressed to the European Union “In two days” could be sent to the duties, as declared during a live television by the White House. A move that serves more than anything else to speed up the agreements already in progress.
The American president also threatened Further taxes of 10% for the BRICS countries and of the 200% for the pharmaceutical sectorwhile a 50%sampling is assumed for copper.
These statements are not only rumors, but they made the price of copper in New York with a new historical maximum. According to comex, the red metal exceeded $ 5.46 the pound, beating the previous March record.
EU negotiations extended and margins for an agreement
We still have a month to listen to Trump who brandishes the club. The American administration has made official the postponement of the deadline for the negotiation with Brussels on 1 August. The secretary of the US trade Howard Lutnick said that “on the table there are real EU offers” and that Washington will evaluate them.
Even the European Commissioner for the Economy Valdis Dombrovskis confirmed that The postponement grants margins for an agreementwhile the president of the European Parliament Roberta Metsola reiterated the confidence of the assembly in Commissioner Maros Sefcovic. Stephanie Lose, Minister of the economy of Denmark for the presidency on duty of the EU, urged to keep the dialogue open and avoid escalation, which means not to give too much to the threats of Trump e focus only on the agreement. An agreement that, if it is located, is very likely not to be completely zeroed but which is around 10%.
Future scenarios: what could happen
The United States, in fact, proposed to the EU an agreement with a basic rate of 10% And exceptions For sensitive sectors such as aerospace and alcohol. Klingbeil, German Finance Minister, warned that the EU is ready to countermeasures If the agreement is not fair.
Iraxte Garcia Perezof the European socialists, commented that “Europe will not bend to commercial bullying“. The war of duties seen as it is, risks damaging the economies on both banks of the Atlantic and aggravating global inequalities. This is not a position of the socialists only, as we will see, but also of real commercial giants.
In fact, Trump’s international economic policy is more unpopular than ever. The Wall Street Journal defined the duties “an increase in arbitrary taxes”, harmful to consumers and companies. Blackrock predicts that they will weigh on inflation and global growth, but excludes a recession.
The Bank of Italy found that 32% of manufacturing companies and 12% of services fear negative effects.
Rates confirmed on seven countries considered hostile
Washington introduced rates between 25% and 40% against seven countries with the first letters, including Japan, South Korea and South Africa. Japanese Prime Minister Shigeru Ishiba defined the choice “Really regrettable“And he announced that Tokyo will strengthen the talks to protect the automotive industry, which is worth over a third of exports to the United States.
Ryosei Akazawa, a Japanese leader, specified that he had three weeks to prepare a detailed dossier and confirmed telephone interviews with the secretary of American trade Howard Lutnick.
South Korean president Lee Jae Myung and the South African president Cyril Ramaphosa also expressed their will to continue the negotiations to find an agreement.
Discontent also from Chinawho reiterated that “nobody wins in a commercial war”. Premier Li Qiang recalled that Beijing has resources to counter the impact of rates.
