US President Donald Trump is imposing tariff rates on dozens of countries around the world, including on Uzbekistan's goods. The highest tariffs were applied to products from China, Vietnam, and Cambodia. This was announced in a relevant decree by Trump.
Donald Trump declared a state of emergency in the US economy, thereby obtaining broad powers to set tariffs. According to the US President's decree, the imbalance of tariff rates and the lack of mutual equality in bilateral trade relations, including the US trade deficit, pose an unusual and extraordinary threat to national security.
According to the White House leader, the US calculates the general tariff rates that other countries apply to American products and accordingly sets a rate equal to half of theirs.
According to the schedule provided by Trump:
- For the European Union, the tariff rate is 20 percent,
- Taiwan – 32 percent;
- Japan – 24 percent;
- South Africa – 30 percent;
- Switzerland – 31 percent.
For countries like the United Kingdom, Egypt, Turkey, Colombia, Peru, Argentina, Chile, Singapore, and Uzbekistan, a basic minimum tariff of 10 percent has been set.
Additionally, the US President is also proposing a method to reduce the tariff rate to zero – for this, products and goods need to be manufactured in the US. According to his words, mutual tariffs will usher in a “golden era” for the US and “jobs and factories will return to the US with a buzz”.
Furthermore, starting today, April 3, the US is also imposing a 25 percent tariff on imports of passenger vehicles, light trucks, and automotive parts.
Donald Trump even placed a 10 percent tariff on the uninhabited Heard and McDonald Islands. These islands have a population of 0 people, but they are home to a large population of penguins. The most remote land located in the southern part of the Indian Ocean consists of the Heard and McDonald Islands. They are considered external territories of Australia.
“Trump's new tariff rates imposed against China added to the previous ones, resulting in a total tariff of 54 percent on Chinese imports,” announced the US Treasury Secretary.
