President-elect Donald Trump‘s team of advisers is considering implementing a tariff plan that would cover all countries. But would target only specific imports, according to a Washington Post report on 6 January.
This proposal represents a significant adjustment to the general tariff policies Trump proposed during his campaign. Which analysts say could raise consumer prices and destabilise international trade.
Following the release of the news, the Bloomberg Dollar Spot index fell by 0.9%, the most since November, while the euro rose by more than 1%. Financial markets also began to speculate about possible interest rate cuts by the Federal Reserve. They anticipate that this strategy could have a less severe impact on inflation compared to a broader approach.
Strategy: Priority on Sectors Critical to National Security
The plan under discussion appears to focus on sectors essential to US economic and national security. Among the products that could be subject to these tariffs are critical materials such as steel and iron. Also, aluminium, copper, and crucial medical supplies such as syringes and vials. In addition, key energy materials such as batteries and rare earth minerals, vital to the technology and defence industry, are also considered.
Implications for Mexico and Other Tariff Policies
Whether this tariff strategy will extend to other policies proposed by Trump. Such as the 25% tariffs on imports from Mexico and Canada or tariffs on Chinese goods, remains to be seen. These measures have generated uncertainty in global trade and inflationary pressures.
According to Bloomberg Economics, it is anticipated that further tariff increases could begin this year, particularly on goods from China. Which would increase global trade tensions and affect economic stability.
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