The USA threatens massive customs increases: exporters in worry!

The USA threatens massive customs increases: exporters in worry!

A new alarm from the USA- a US memorandum on commercial and customs policy could consider global trade relationships considerably! According to Michael Kolb, board member of Acredia Versicherung AG, countries such as Argentina, India, Brazil, Chile and Kenya are particularly hard hit by customs increases between 23 and 34 percentage points. The EU and China are also faced with possible customs increases of 13 and 12 percentage points. This could increase the average customs rate for EU products that are imported into the USA from currently one percent to 14 percent. A devastating blow for numerous Austrian exporters who are strongly dependent on the American market, such as cash.ch , entry into a comprehensive customs conflict of up to $ 221 billion per year on the trade with China. The analysis illuminates that in the worst case, trade between the USA and China could decrease by $ 159 billion and possibly even by a quarter. This leads to drastic cost increases for imported goods from China, which would then increase by more than $ 200 billion, provided there are no alternative sources. An educational example of how geopolitical tensions can have a lasting impact on world trade.