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According to CCTV News Client, Trump recently posted two tweets on his social media account, both of which were aimed at the decision to impose additional tariffs.
Trump said he would impose a 25% tariff on all products entering the United States from Mexico and Canada. In addition, Trump also announced that he would impose an additional 10% tariff on Chinese goods.
This series of tariff measures will undoubtedly once again set off waves in the global trade market.
It is reported that Trump will officially take office on January 20, 2025. This will be one of the first executive orders he signs after taking office in the White House.
This is not the first time Trump has wielded the "tariff stick". As early as July this year, during the campaign, Trump was revealed to be introducing a package of tariffs, in which the tax on goods imported from China could even reach 60%.
At a campaign rally in September, Trump threatened to impose 100% tariffs on every car imported from Mexico to the United States.
These remarks not only attracted widespread attention from the international community, but also made the American people worry about the future economic prospects.
Although Trump's tariff promises may bring him a temporary victory in the election, in the long run, the American people will have to bear a heavy price.
A study by the National Retail Federation (NFR) pointed out that if Trump’s proposed new tariff plan is implemented, American consumers may lose as much as billion in annual spending power.
Studies show that these tariffs will affect consumer product categories such as clothing, toys, furniture, appliances, footwear and travel goods.
A Reuters analysis noted that U.S. consumers have become more frugal in recent years and have reduced non-essential spending, which has put sales pressure on retailers and consumer goods companies.
Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, said retailers rely on imported goods and manufacturing components in order to offer diverse and affordable goods, and if these import tariffs are implemented, it will hurt the economy of low-income households. The burden is even greater because tariffs are ultimately passed on to consumers, causing prices to rise.
Affected by this, the supply and demand relationship on the trans-Pacific route may be greatly affected. If demand declines, shipping companies may reduce some voyages or increase investment in routes in other regions such as Southeast Asia and Latin America to maintain the balance of overall shipping capacity.
In terms of freight rates, freight rates from China to the United States may fluctuate greatly during certain periods, which will directly affect the transportation of goods between the two countries. The global trade pattern and shipping market will add more uncertainties.
