00:00A flurry of new tariffs on a long list of U.S. trading partners signed off by President Donald Trump.
00:06It's the next step in his trade agenda that will test the global economy and alliances.
00:11The new import levies reach as high as 41% on Syria, a hike on Canadian imports to 35%,
00:17and 25% tariffs on goods from India, plus an additional import tax on the country
00:22due to India's purchasing of Russian oil.
00:24Brazil, meanwhile, faces a whopping 50% tariff as punishment for what the U.S. president has called a witch hunt
00:31against his right-wing ally Jair Bolsonaro.
00:34The Brazilian finance minister said Brazil will defend its interests.
00:40The 50% tariff is truly unjustifiable.
00:43It is outside the standard framework of America's relationship with any other country.
00:49America's top trading partner Mexico will see a 90-day negotiating period,
00:54keeping the current 25% tariff rates.
00:57Some countries were able to strike deals before the deadline, including South Korea and Japan.
01:03The EU faces 15% on most goods imported into the U.S.,
01:06and although they had avoided double that rate threatened by Trump months ago,
01:10many European leaders are unhappy.
01:13The EU commission president has made commitments to America that are beyond her authority.
01:18All European products imported to the U.S. will face 15% tariffs and no levies on goods from America.
01:26What kind of an agreement is this?
01:29Donald Trump says his aim is to address trade imbalances that are unfavorable to the U.S.,
01:34and has promised the tariffs will boost the U.S. economy and create jobs.
01:38Critics, however, warn the tariffs could harm America's global standing
01:41and increase inflation both domestically and abroad.
01:44For more information, click on the
02:01bookfeed Foote.
Comments