Trump Imposes New Tariffs Citing National Security
The president of the United States, Donald Trump, has imposed a new series of tariffs invoking “national security” on a wide range of products, including branded medications with patents, heavy trucks, furniture, kitchen cabinets, and bath dressers.
as of October 1,a 25 percent tariff will be applied to heavy trucks,a 30 percent tax to upholstered furniture,and a 50 percent tariff to kitchen cabinets and bath dressers.
The tariff on pharmaceutical products, excluding generic medicines, will be 100 percent, though companies may obtain an exemption if “they are building their drug manufacturing plant in the united States,” Trump announced on social media.
He added that no tariff would be imposed if construction had already begun.
the personalized nature of decision-making under Trump’s management was highlighted by the fact that just 12 hours before this announcement, the United States commercial representative, Jamieson Greer, was in Malaysia negotiating with Southeast Asian officials and stated there were no plans for new tariffs.
The new tariffs, like those on cars, steel, and aluminum, have been imposed under section 232 of the Commercial Expansion Law of 1962, granting the President the power to impose tariffs for reasons of “National Security” following a Department of Commerce examination.
The so-called “reciprocal tariffs,” covering entire countries and ranging between 10 and 50 percent, have been imposed under the International Emergency Economic Powers Law (IEEPA). The International Trade Court ruled in May that Trump had exceeded his powers when using this legislation, a decision later ratified by a Federal Appeals Court.
The Trump administration has appealed to the Supreme Court, arguing that revoking the tariffs under IEEPA could trigger a major economic and financial crisis.
When reciprocal tariffs were first announced in April, Trump’s claims that they would bring billions of dollars to the United States were quickly debunked.Tariffs are not paid by the exporter, but by the importing company, which absorbs or passes them on to the final consumer – be they homes or businesses.
Though, the true intent behind Trump’s claims has as become clear.Reciprocal tariffs are the key weapon in a large-scale international extortion operation,resembling mafia practices more than anything previously seen in international trade.
The so-called agreement with Japan exemplifies this.Under the threat of a 25 percent tariff – potentially causing hundreds of billions of dollars in losses for their automotive industry – Japanese negotiators accepted Trump’s terms.
In exchange for a 15 percent tariff reduction, japan promised to invest $550 billion in American industries selected by a committee composed exclusively of United States representatives, effectively controlled by Trump.
Should Japan fail to proceed with the investments, tariffs would revert to their previous level, or even increase.
Moreover, if investments financed by Japanese capital begin to generate profits after recovering initial costs, 90 percent of the profits would go to the United States and only 10 percent to japan.
The united States is currently in “negotiations” – another blackmail operation – with South Korea, demanding $350 billion following the same agreement model as with Japan.