On April 2, US President Donald Trump announced the imposition of mutual duties on dozens of countries, noting what he described as years of unfair trade practices.
Trump said in the White House garden that all foreign countries will face 10%basic customs tariffs, but there are many countries that are exposed to higher customs tariffs on imports.
Canada and Mexico remain a 25%customs tariff, while exempting the goods covered by the United States, Mexico and Canada agreement.
Trump raised an advertising plate showing the percentage of customs duties that each of these countries will face.
A turning point in the global order
The last round of commercial customs duties revealed by the United States on April 2 will deplete more power of the global economy, which barely recovered from the inflation wave after the Korona pandemic, which suffers from standard debts and is concerned about geopolitical conflicts.
Based on how President Trump and leaders of other countries will now act, this event may also be scored as a turning point in the global system, which has so far considers America’s strength and reliability a Muslim.
“The customs duties imposed by Trump involves the risk of destroying the global free trade system led by the United States since World War II,” said Takahidi Kiuchi, an executive economist at the Nomura Research Institute.
During the next few months, prices are expected to rise and thus weaken the demand.
“I see this as a deviation of the American and global economy towards worse and more uncertainty, and perhaps head towards what we can call global stagnation,” said Antonio Fatas, an economist at ISIAD College of Business Administration in France.
Under the new global fees imposed by Trump, the rate of US customs duties jumped on all imports to only 22% from only 2.5% in 2024, said Oulu Sonola, head of US economy research at Fitch Credit Rating Agency.
Sonola told Reuters: “This makes a fundamental change, not only for the US economy, but also for the global economy. It is likely that many countries are likely to enter into a recession,” Sonola told Reuters.
The American citizen is one of the biggest losers
The American President of the idea of global customs duties promoted a festive atmosphere, investigating his electoral promise to liberate the country from high prices. The President claimed that “prices have decreased significantly” since his return to office, but anyone visited any grocery store in various American states will definitely violate him, according to the Guardian newspaper.
Many experts believe that the United States and the American citizen are among the most important people affected by Trump customs duties. American companies fear the broader influence of this step, as it warns that high costs will move to their customers.
“What we have heard of companies of all sizes and sectors and from all parts of the country is that these comprehensive customs tariffs represent a tax increase that will raise prices on American consumers and harm the economy,” said Neil Bradley, chief policy official in the American Chamber of Commerce, a pressure group for companies.
This drives us to talk about the most affected countries of Trump’s fees and his trade war on the world alongside the United States itself.
The 10 largest global countries will lose from “Trambeb Liberation Day”
Below is a list of the most affected countries in the world from Trump’s fees and his commercial war, according to a summary of the trade of these countries with America, according to the USA’s commercial representative office (USTR) for 2024.
1- China
New American customs duties on China: 34%, which is added to the current 20% customs duties on all Chinese imports to the United States (total = 54%), according to CNN.
– Total American commodity trade with China: $ 582.4 billion
American commodities exports to China 143.5 billion dollars
American commodities imports from China: $ 438.9 billion
– The volume of the American trade deficit with China: $ 295.4 billion
2- Vietnam
New American customs duties on Vietnam: 46%
– Total American commodity trade with Vietnam: 149.6 billion dollars
American commodity exports to Vietnam: $ 13.1 billion
– US commodities imports from Vietnam: 136.6 billion dollars
– The volume of the American trade deficit with Vietnam: 123.5 billion dollars
3- Thailand
New American customs duties on Thailand: 36%
– Total American commodity trade with Thailand: 81 billion dollars
– US commodity exports to Thailand: $ 17.7 billion
– US commodities imports from Thailand: $ 63.3 billion
– The size of the American trade deficit with Thailand: $ 45.6 billion
4- Taiwan
New American customs duties on Taiwan: 32%
– Total American commodity trade with Taiwan: 158.6 billion dollars
American commodity exports to Taiwan: $ 42.3 billion
American commodities imports from Taiwan: 116.3 billion dollars
American commodity trade deficit with Taiwan: $ 74 billion
5- Indonesia
New American customs duties on Indonesia: 32%
– Total American commodity trade with Indonesia: $ 38.3 billion
– US commodity exports to Indonesia: $ 10.2 billion
American commodities imports from Indonesia: $ 28.1 billion
The size of the American trade deficit with Indonesia: $ 17.9 billion
6- Switzerland
New American customs duties on Switzerland: 31%
– Total American commodity trade with Switzerland: $ 88.4 billion
American commodity exports to Switzerland: $ 25 billion
– US commodity imports from Switzerland: $ 63.4 billion
– The volume of the American trade deficit with Switzerland: $ 38.4 billion
7- South Africa
New American customs duties on South Africa: 30%
– Total American commodity trade with South Africa: $ 20.5 billion
American commodities exports to South Africa: $ 5.8 billion
American commodities imports from South Africa: $ 14.7 billion
– The size of the American trade deficit with South Africa: $ 8.9 billion
8- India
New American customs duties on India: 26%
– Total American commodity trade with India: 129.2 billion dollars
American commodities exports to India: $ 41.8 billion
American commodities imports from India: 87.4 billion dollars
– The size of the American trade deficit with India: $ 45.6 billion
9- South Korea
New American customs duties on South Korea: 25%
– Total American commodity trade with South Korea: 197.1 billion dollars
American commodity exports to South Korea: $ 65.5 billion
American commodities imports from South Korea: $ 131.5 billion
The size of the American trade deficit with South Korea: $ 66 billion
10- Japan
New American customs duties on Japan: 24%
– Total American commodity trade with Japan: 227.9 billion dollars
American commodity exports to Japan: $ 79.7 billion
American commodities imports from Japan: $ 148.2 billion
– The volume of the American trade deficit with Japan: $ 68.5 billion
