Reference News Network reported on April 5 that according to a report on the website of the "New York Times" in the United States on April 3, a new trade data analysis showed that with the implementation of extensive tariffs on some of the country's largest trading partners by U.S. President Donald Trump, importers will need to spend an additional $71.4 billion to bring shoes, televisions and all other products into the United States.

According to calculations by World Trade Consulting, if the new tax rates apply to all goods imported by the U.S. last year, the total tariff cost for importing these goods will be about 10 times the amount paid by companies in 2024.

This policy may change trade patterns, and some countries may obtain exemptions through negotiations with the Trump administration. However, for most countries, the increase in tariffs may still be significant.

"These shockingly high tariffs will have a major impact on the cost of various products," said Dan Anthony, president of World Trade Consulting. "Based on the import data from 2024, the new tariff rates, plus the special tariffs announced in February targeting China, will result in an additional $27.5 billion in import duties just for mobile phones."

Due to the cumulative nature of many tariffs, the rates vary significantly for different countries. During Trump's first term as president, China has already been subject to tariffs, and now the rate for its goods has surged from 11% to nearly 63%. Although Mexico and Canada are not listed in the tariff list announced on February 2, their rates have risen to 16% and 13%, respectively. Overall, the average tariff rate for goods entering the United States has increased from 2% to 24%.

Some countries receive larger exemptions. For example, Ireland, like all EU member states, is affected by a 20% tariff rate. However, Trump's executive order exempts pharmaceutical products (Ireland's main export product to the U.S.), meaning the average tariff rate increase for the country is minimal.

Many countries have retaliated against U.S. goods by imposing tariffs and threatened further measures. As diplomatic battles unfold, some companies are rushing to import goods from overseas before the new tariffs take effect, while others are competing to secure exemptions. However, for many companies, the new costs will be unavoidable. (Translated by Guo Jun)

Original article: https://www.toutiao.com/article/7489743628370248227/

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