President Trump is expected to disclose his most extensive invoices until Wednesday afternoon, when detailing possible prices contributions to countries around the world, including America’s largest commercial partners.
Mr Trump has promised for months to impose what he calls “mutual” invoices, which the president says he will correct years of “unfair” trade in which other countries have “removed” America.
“We helped everyone, and they don’t help us,” Trump said on Monday.
Exactly how it plans to structure the new invoices is not yet clear. White House Press Secretary said on Tuesday afternoon that Mr Trump had decided on a course of action and that the new invoices would come into force immediately, but that he and his trade advisers continued to consume details.
The president talked about the basis of a new invoice rate on invoice countries that place on US products, as well as other commercial practices that the Trump team considers unfair.
Mr Trump has also considered a level of 20 % invoice to all commercial partners. Such a levy will aim more at revenue to offset the tax cuts that the Congress is hoping to promote.
Each approach would be a major escalation to a trade war that Mr Trump seems willing to launch. Governments around the world are preparing to hit back if the president sets the invoices, increasing the capabilities of destabilizing financial battle that leads to cost as Mr Trump is trying to force supply chains in the United States.
The president has greatly dismissed the concerns that his invoices – essentially a tax on imports – could raise prices for US consumers and businesses or cause retaliation that would hurt farmers and other exporters.
Mr Trump has already imposed several important installments of invoices, including those widely applied to imports from China, Canada and Mexico. It has also announced invoices for imported cars and car departments, which are due to enter into force on Thursday.
The Canadian and Chinese governments have already been opposed to Mr Trump’s invoices with their own contributions. Governments in Europe, Mexico and elsewhere said they were waiting to see Wednesday’s measures before announcing their own answers. European officials discussed the placement of commercial barriers to the services, using a trade weapon developed in 2021. This tool could allow Europe to impose restrictions or sanctions on companies such as Google, Meta or even US banks.
Mr Trump is scheduled to announce that his invoice is moving at 4 pm at a ceremony in the Garden of the White House Rose. On Tuesday, Karoline Leavitt, a White House secretary, said the invoices would be installed immediately.
“We are focused on restoring America’s golden age and a superpower of construction in America,” Ms Leavitt said.
Mr Trump argues that invoices will encourage companies to transfer factories to the United States and has been welcomed by investment announcements by chipmakers, car manufacturers and others.
However, economists say that once invoices increase prices for imported products and manufacturing inputs, they can slow the economy. The prospect of invoices has caused turmoil in stock markets and between large companies, which often depend on international supply chains for spare parts and products.
Trump administration officials also insisted that foreign companies would pay the cost of invoices for the privilege of selling to the US market, but both economists and industry executives say importers are likely to pass part of the tariff costs.
Goldman Sachs analysts said in a recent note that their higher invoices had caused them to increase the provision of year’s inflation, reduce economic growth forecasts for 2025 and increase their unemployment expectations this year.
They now put the possibility of recession in the next 12 months at 35 %, from 20 %, they said. The change, they added, reflected “the lowest line of growth, the sharp recent deterioration of the confidence of households and businesses, and statements by White House officials indicating a greater willingness to tolerate short -term financial inability to pursue their policies”.
Satyam Panday, US and Canada’s head economist for S&P Global Ratings, said: “If manufacturers have to pay more for their introduction, we will probably see prices for production as well.” He added that it was “building inflationary pressure”.
Many industries have also pushed back the duty plans. Michael Hanson, a senior executive vice -president of the Leaders Industry Industry Union, who represents the big retailers, said in a statement on Tuesday that the Americans “were based on President Trump to help life make life more accessible”.
The Americans are “nervous about the impact invoices they will have in their pockets,” he said. “Retailers strongly urge the president to double the policies from his first term working and resigning policies that create uncertainty for US businesses and families.”
Mr Trump and his supporters have recognized that there could be some pain for the economy and consumers as global supply chains are reorganized. Senator John Kennedy, a Republican from Louisiana, said on Tuesday that he realized that Mr Trump was trying to achieve using invoices as Cudgel to bring jobs and investment back to the United States. This, he said, would be a “pure positive” in the long run.
“The short -term issues also,” Mr Kennedy added during an interview with Fox Business. “I want to say, just does it and anyone tells you that they know what the short -term impact of these invoices on the economy will be, has commented on a home from a day, they do it, they just don’t know, because we’ve never seen the invoices in modern history.”
Tony Rom References are contributed
