The new tariffs being introduced by US President Donald Trump could have a serious impact on the international economic situation. The International Monetary Fund (IMF) has begun to assess the impact of these tariffs on the global economy, particularly on external markets.
IMF Analyses and Assessments
IMF official spokesperson Julie Kozak announced at a briefing for journalists that the effects of the new tariffs are being studied. She noted that significant changes in trade policy have been implemented by the Trump administration in recent weeks. Therefore, the fund has started to conduct a thorough analysis of the impact of these measures on the global economy.
"We are currently conducting this analysis. During this process, we will review all announcements, economic changes, and data," Kozak said.
Impact on Canada and Mexico
The new tariffs could particularly negatively affect close trading partners of the US, such as Canada and Mexico. Additionally, these restrictions are expected to have an impact on the European Union, Asia, and other regions.
According to Kozak, the IMF will stop accounting for new data on American tariffs after a certain period and will focus on analyzing existing data.
New Tariffs on US Automobiles
On March 26, Donald Trump announced a 25% import tariff on all cars manufactured outside the US. The previously existing tariff of 2.5% will also remain in place, resulting in a new tariff rate of 27.5%.
This measure poses a serious threat to the European automotive industry and could lead European car manufacturers into economic decline.
According to estimates by Politico, these restrictions will deal a significant blow to an already struggling European automotive sector. The industry is facing negative impacts from low sales, strong competition from Chinese car manufacturers, and current trade restrictions.
The new tariffs being implemented by the US could affect not only Canada and Mexico but the entire global economy. The European Union's automotive industry is expected to suffer particularly significant losses. The IMF continues to assess the impact of these measures and is expected to release a special report on the global economy in April.
Although the new tariffs have been introduced to protect the US economy, this measure could escalate tensions in international trade and strain economic relations with Europe and other countries
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