President Trump's tariff is not a final decision, but an invitation to discussion - expert
Kyiv • UNN
The introduction of US duties against the EU and China is an invitation to negotiations. Possible EU duties against the US will be a lever of pressure, not real intentions.
The introduction of trade duties by the President of the United States against the European Union and China is not a final decision and the parties will negotiate. Possible duties of the European Union against the United States are only an additional lever of pressure in the negotiations, the head of the Association of Exporters and Importers "ZED" Serhiy Svistil told the UNN correspondent.
Details
This is not a final decision, this is an invitation to discuss and find solutions that will satisfy the United States. There are many questions to the European Union, in particular, about the national debt of the United States to European countries. And here, according to the United States, a compromise must be found
At the same time, the expert believes that the EU will not join forces with China to confront the US, as it is not in its interests.
"The European Union will not block together with China against the United States. This may happen only in the form of such demonstrative attempts, but in fact it is not beneficial to the European Union," the expert noted.
He also added that the likely EU duties against the US will be more of a lever of pressure in the negotiations than real intentions.
"The introduction of duties by the European Union against the United States: the issue is on the table, but the decision will be made in a complex, as a compromise," explained Svistil.
The expert also explained that the US hopes to transfer European production to its territory is a bad idea, because it would be necessary to transfer thousands of specialists and workers, which is in principle not possible.
According to Svistil, the US is actually forming a new system of international trade, the purpose of which is to resist India and China, which are slowly but surely starting to overtake the United States. Finally, he added that many issues remain in the shadows and are not publicly raised, so it is difficult to accurately predict further developments, but the main goal of all parties to the conflict is to find a compromise.
President Trump's duties
Trump's latest tariffs raise tariffs imposed on China this year to 104%, as well as import taxes for approximately 60 trading partners who have a positive trade balance with the US. This happened after a 10% base tariff for most US trading partners came into effect on Saturday.
Asian countries bear the brunt of these measures: Cambodia and Vietnam face 49% and 46% duties, respectively. Imports from the European Union will be taxed at a rate of 20%.
"The tariffs are in place and the money is coming in at levels we've never seen before, and it's going to be great for us. It will be great for us. It will be great for other countries. We've been robbed and abused for years," Trump said on Tuesday at an event at the White House.
Treasury bonds continued to sell off, with the yield on 30-year bonds rising more than 20 basis points to 4.98%, and Asian stocks fell for the fourth time in five days in trading on Wednesday. Markets remained volatile throughout the US day on Tuesday, initially rising as Trump prepared for talks with South Korea, then reversing as the administration confirmed plans to advance its massive Chinese tariffs.
Hours before the tariffs were introduced, the White House insisted that the tariffs were indeed being introduced, dispelling market speculation about any last-minute delays.
These moves raise tariffs to their highest level in more than a century and threaten a full-scale trade war if other countries retaliate by imposing tariffs on American imports.
Addition
Earlier, China promised to "fight to the end" in response to the US threat to impose an additional 50% duty on Chinese imports. Beijing and Washington are exchanging warnings about additional trade measures amid the recovery of markets in Asia, despite the fact that the world's two largest economies have begun a threatening duel.
Also almost 70 countries have appealed to the US regarding trade amid Donald Trump's new duties, US Treasury Secretary Scott Bessent said.