After spending more than two years Wednesday’s mocking rates is the great revelation: the moment when the president of the United States, Donald Trump, presents the complete scope of his commercial protectionist policy.
He calls it on the day of liberation and plans to celebrate it on Wednesday afternoon at an event of 4 pm et in the Rosas of the White House.
“[This] It will happen as one of the most important days in modern American history, “said White House Press Secretary Karoline Leavitt.
For skeptics, it is making history for all the wrong reasons.
The global economy, already nervous, will be on the edge of a knife waiting for details of this plan, which could impose broader American tariffs than at any time from the great depression.
The White House boldly insists that these rates will reach several simultaneous objectives: increase income, pay tax cuts and force companies to build in the United States.
The president of the United States, Donald Trump, is imposing a 25 percent rate on vehicles that are not held in the United States, Andrew Chang explains why this threat is different. In addition, is the perfect time to buy a house in Canada now?
The stock market is not convinced, it is lost All your profits from the election. The feeling of the consumer has collapsed. And Capitol Hill is getting anxious.
Here is a reason for the dismay: the most elementary details of the Trump Plan are still in flow. On the eve of the ad, there were contradictory leaks In the American media.
Is this a global rate of 20 percent? Or will they be several smaller rates that penalize specific actions from different countries? Trump team members were still debating the details this week.
Then there is the question of what happens with the tariffs announced above: Will they disappear or stacked on these, which means a rate on a rate?
Whatever happens, the automotive industry already faces a crisis, according to a representative. Flavio Volpe, head of the main auto parts lobby group of Canada, says that the industry gain margins would be eliminated, several times, by tariffs already scheduled to enter into force on Wednesday, apart from any new plan to announce that Trump plans to announce.
In just a few days, Donald Trump promises to wear tariffs to, in his opinion, to free his country from foreign goods by imposing tariffs that will go to all countries. The CBC News correspondent, Richard Madan, has the last of Washington, shortly after Trump spoke with journalists on Monday.
Crisis automotive industry warning
“It will close the industry in a week. On both sides of the border,” said Volpe, president of the Association of Automotive Parties Manufacturers.
“Mathematics does not work. That is why everything will close … we may need to show that mathematics does not work, so that the White House reverses the course.”
For those who keep the score, Trump has already imposed 25 percent duties to many Canadian and Mexican products; 10 percent energy; 25 percent in steel and aluminum, used by manufacturers, including automotive companies, and now a 25 percent service in vehicles gathered outside the US. UU., In addition to tasks in some parts, with the threat that more pieces are added later.
Given this, the Democrats seek to deliver a political black eye for Trump’s big day. They will force several hours of debate, followed by a vote, in Senate Resolution 37.
This motion would end Trump’s national security justification for Canada tariffs, specifically for the initial 25 percent tax service supposedly due to Canada’s role in fentanyl trade.
It would be mainly symbolic. The sponsor of the bill, Senator Tim Kaine says that he is close to blocking the necessary votes to approve it, and already has the support of some Republicans.
“Our constituents are going crazy about this,” said Virginia’s Democrat to CBC News. “My … the components are furious for this. They are pro-channel, they are in favor of trade with Canada, and are higher prices in construction supplies, groceries, fertilizers, aluminum and steel.”
The United States Senate will vote on Tuesday on a resolution of the Democratic Senator Tim Kaine in Virginia to challenge the use of the president of the United States, Donald Trump in the International Law of Economic Emergency Powers, to declare an emergency on the northern border to hit Canada with tariffs.
If the resolution obtains “a good and solid bipartisan vote in the Senate, that will be a powerful message for Donald Trump and his economic advisors:” You are playing with fire. Do not increase taxes on Americans in their groceries and build supplies at a time when the economy is softened, “Kaine said.
If it happens, it would be a shameful message for Trump on its big day of rates: a rejection of the Senate, which its party controls.
However, substantially, it could mean very little. The bill will surely not be taken to vote in the Chamber. Even if the house passed, Trump could still veto it anyway.
In any case, this would only get rid of a set of rates, supposedly on fentanil. Even so, it is an early evidence of Trump’s tariff policy.
Democrats play Canada’s rates
Democrats see tariffs more and more like a winner for them and a loser for Trump, especially in Canada. Some of the most important figures of the party joined Kaine for a press conference outside the Capitol on Tuesday.
They foreseen a message that will probably lead to half of the tracks in the middle of half: that Trump is effectively taxing common Americans, raising the tariffs of the goods they use, to pay the tax cuts for billionaires.
They have received assistance in that message from Trump himself, which only He said he doesn’t care If prices go up for short -term goods.
“Republicans are twisting,” said the Senate of the Democrats, Chuck Schumer.
Trump is now working to harden his thorns. It promises a new gold era of American manufacturing, if the party can resist the initial storm.
In danger of being repudiated by Congress, in that expected vote on Wednesday, Trump has cast a warning to his party: supporting my Canada tariffs.
“Do not let the Democrats have a victory,” Trump published, referring to the Senate’s vote. “It would be devastating for the Republican Party and, much more important, for the United States. Make the United States great again!”
The pressure on Republicans is real. One that Kaine had included as defender of his bill, Thom Tillis, of North Carolina, later clarified on Tuesday that he will not vote for it, despite his concerns about tariffs.
It is worth noting Tillis’s own situation: he is ready for re -election next year and faces a main challenge, which makes him risky for him to anger Trump. Other Republicans, Rand Paul and Susan Collins, still support the bill, and Kaine said he is optimistic that he can get a couple more to reach a majority.
Now Washington looks at the White House.
Not only Washington, but also Wall Street merchants, and Windsor, Ontario, and any other person with a participation in trade with the United States
The greatest stranger is if Trump will announce a flat global rate, or a lot of the so -called reciprocal measures of Tit per eye.
The White House does not say. The media reports suggest that it is still being discussed internally, although Trump has spent two years campaigning in this idea.
Each approach comes with challenges.
The first idea, the global rate, is a forceful instrument that could more easily hit the United States in a recession. The latter is painfully complex; Commerce experts have been saying for weeks that there is no way that Trump’s team can create this system in April.
In an event in February, in the conservative American Enterprise Institute, a commercial policy expert unwaftably said that April 2 would be a disaster. There is simply no form, he said, to properly design reciprocal rates from country to such a fast country.
“They won’t approach,” said Derek Scissors, more than a month ago.
“We are going to get a great setback, which would be sensible, or we will have nonsense.”
