After months of proposals for intermittent tariffs that arose from the social media accounts of US President Donald Trump, the newly appointed US trade representative (USTR) Jamieson Greer has tried to soften the worst aspects of the disparate policy proposals of the Trump administration.
Greer assumed the position of Ustr at the end of February and has begun the hard work of trying to recover part of the volatility with which markets have been fighting as a result of the aggressive commercial policy strategy of Donald Trump.
The USTR Greer has restored formal channels so that the companies and interested parties of the United States provide direct comments on the incoming tariff plans, which include the often repeated plans of President Trump to impose “reciprocal” and “sectoral” tariffs on April 2.
FAQS tariffs
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
