The Commercial War driven by Donald Trump He has left many without sleep, but despite the 90 extension Days the matter will not be resolved quickly. Scott Besent, US Treasury Secretary.has pointed out that Tariff agreements will need more time of the pause in progress according to Brian Sozzi en Yahoo Finance.
«Let’s put aside China. There are 15 great commercial partners. We put aside China. There are 14, and we are working at full speed to establish a process for the 14 largest commercial partners, most of whom have very high deficits. So, in 90 days, will we have a complete document, a formal legal document ready and ready? It is not probable,» Besent told Besunt to Yahoo Finance in an exclusive interview.
«But I think that if we follow the process, we could have a substantial clarity about those 14 countries, apart from China, in terms of principle agreements. And then, once we reach an agreed level and they have agreed to reduce their tariffs, their non -tariff barriers, exchange manipulation and subsidies to the industry and labor, then I think we can move forward,» Besent continued. On April 9, the Trump administration announced a 90 -day break in all reciprocal tariffs, except China. Tariffs on one of the most important business partners in the US are now in 145%: a 125% reciprocal tariff and 20% that Trump previously imposed.
A 10 % general tariff continues to all other imports.
The government further refined its tariff plans on April 11.
The White House issued a rule that It exempts smartphones, computers, semiconductors and other electronic products of reciprocal tariffs, especially the most severe tariffs on Chinese products. The Customs Office and Border Protection of the United States (CBP) He affirmed that these products would be excluded from the 10% Trump global tariff and Chinese reciprocal tariffs of 125%.
Trump quickly minimized the possibility of reversing the course of tariffs, noting that Chinese electronic products will remain affected.
«There was no exception ‘tariff,» Trump said Sunday in a publication on social networks. «These products are subject to existing 20% tariffs for fentanil, and are simply moving to a different tariff category.»
Besent suggested that an agreement with China has not yet been completed, but that tariffs exceeding 145% could not be on the horizon.
«I think nobody thinks that these measures are sustainable in the long term. But with President Trump, I will not reveal his negotiation strategy,» Besent added.
The commercial war is injecting considerable volatility in the global markets of shares and bonds. The shares of companies that depend on China for their manufacture, such as Applethey have collapsed. He Gold has reached a historical maximum and the 10 -year performance has risen to about 4.5%since investors express their distrust in US policies.
«According to my calculations, the tariff rate is still quite high, at least as high as any other we have seen since the 1930s,» he said Peter Berezin, BCA Research Chief Strata. «There is no guarantee that these so -called reciprocal tariffs will go down. The truth is that most countries do not have very large commercial barriers with the US.» Berezin, the greatest bassist of Wall Street, added: «Uncertainty is a problem. I think we still head towards a recession, unfortunately.»