00:00Trump's new wave of tariffs, an audacious strategy or a global risk.
00:05The White House has unveiled a new wave of tariffs on dozens of countries
00:08that have yet to finalize trade deals with the United States.
00:12These measures, presented by the Trump administration as a show of negotiating strength
00:17and a way to channel billions of dollars into the U.S. Treasury,
00:21are set to take effect in just a matter of days.
00:24However, experts are already cautioning that these new costs
00:28could be passed on to American consumers, potentially fueling inflation.
00:33Let's look at some of the countries facing these new levies and their new rates.
00:38Laos is set to face the steepest rate at 40%.
00:41Switzerland will see a 39% tariff.
00:45Canada, one of America's closest trading partners, will experience an increase from 25% to 35%.
00:51India is facing a 25% tariff.
00:55Taiwan will contend with a 20% rate.
00:57Indonesia is set at 19%, and Thailand, while initially facing a daunting 36%,
01:03has seen its rate reduced to 19%, offering a significant relief for its manufacturers.
01:09But, as the saying goes, the devil is in the details.
01:12And in this case, those details are largely missing.
01:16Despite the fanfare of deals, the Trump administration has reportedly only reached
01:20agreements with a dozen countries and the European Union.
01:23And crucially, only the deal with the United Kingdom has actually been signed.
01:28This leaves a vast landscape of unresolved specifics and considerable uncertainty for businesses and
01:34exporters worldwide.
01:36The situation in Thailand is a perfect example of this ambiguity.
01:39While its manufacturers were informed of a deal just two days before the official announcement,
01:45they still don't know exactly what it will mean for them.
01:48This rapid process means countries often lack certainty about the precise conditions of what has been agreed upon.
01:55Furthermore, there are already ongoing disagreements.
01:58Indonesia and the Philippines have explicitly denied granting the U.S.
02:03carte blanche to import into their countries, despite U.S. assertions to the contrary.
02:09Vietnam, believed to have reached an agreement, has remained publicly silent,
02:13and is understood to disagree, even with its imposed tariff rate.
02:16This pervasive lack of clarity has effectively thrown a wrench into the intricate global production
02:22machines of Asia, often called the world's workshop.
02:25The case of India underscores how these negotiations extend beyond mere goods and services.
02:31Facing a 25% tariff, Indian businesses and exporters, particularly in the textile sector,
02:37are in a state of deep uncertainty, unsure whether to proceed with existing orders due to the lack
02:43of clear guidelines. Adding to the complexity, the United States has expressed frustration with
02:48India's ongoing ties to Russia, specifically its purchases of Russian oil and arms. This has
02:53become a significant irritant in trade discussions. But India firmly maintains its sovereign right to
02:59import oil based on its national interest. Despite these challenges, the possibility of a broader trade
03:06deal with India remains on the table. With a September deadline and a U.S. trade team expected in August
03:12to continue talks. In conclusion, the imposition of these new tariffs by the Trump administration
03:17represents a forceful commercial strategy. However, the pervasive lack of transparency
03:23and the discrepancy between applicable announcements and concrete detailed agreements are fostering deep
03:28global uncertainty, leaving many nations and industries in the dark about the future of their
03:33commercial relationships with the United States.
03:35It's money. It's money. It's money.
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