On July 27th, local time, senior U.S. government officials stated that President Trump has the authority to reimpose higher tariff levels when other countries fail to fulfill their investment commitments.
The official mentioned that the European Union is keen on continuing discussions with the United States regarding steel and aluminum tariff issues. The agreement reached between the U.S. and the EU stipulates that applicable tariffs will be determined by either the “most-favored nation” rate or the higher of 15% or the “most-favored nation” rate.
The official revealed that the U.S.’s ongoing investigation into tariffs on aircraft is still underway, and tariffs are currently not being imposed. It is expected that tariffs may not be increased at all, as the results of the investigation are yet to be released. (Xu Xiao)
Trump’s tariff policies have impacted the global economy.