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Kiven Haysit, director of the US National Economic Council (NEC), told CNBC on Monday that US President Donald Trump is considering a 90 -day stop in definitions for all countries except China, according to Reuters.
Market reaction
These comments seem to help the risk mood to recover. After a declining opening for today, the last time was seen in Nasdaq Composite flat. Meanwhile, the S&P 500 index decreased by 0.3 %, and the industrial average decrease 0.85 %.
The US dollar is struggling to take advantage of this address. As of the writing of this way, the dollar index rose 0.2 % a day at 103.10.
Customs fees are common questions
Customs duties are useful customs duties on some imports of goods or a category of products. Customs duties are designed to help local producers and manufacturers to be more competitive in the market by providing the price feature on similar goods that can be imported. Definitions are widely used as fever tools, along with commercial barriers and import shares.
Although customs tariffs and taxes generate government revenues to finance public goods and services, they have many differences. Customs duties are pre -paid in the entry port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while customs duties are paid by importers.
There is a school of thought between economists regarding the use of definitions. While some argue that definitions are necessary to protect local industries and address commercial imbalances, others see them as a harmful tool that can push prices up in the long term and lead to a harmful commercial war by encouraging customs tariffs.
During the period before the presidential elections in November 2024, Donald Trump explained that he intends to use the customs tariff to support the American economy and American producers. In 2024, Mexico, China and Canada accounted for 42 % of the total imports of the United States. During this period, Mexico emerged as the best source with $ 466.6 billion, according to the American Statistical Office. Thus, Trump wants to focus on these three countries when imposing definitions. It is also planned to use the revenues created by definitions to reduce personal income taxes.
