The United States (United States), the Treasury Secretary, Scott Bessent, said on Tuesday that it actively negotiates with 17 trade partners, while clarifying that they had not yet engaged with China, according to Reuters.
Bessent has reiterated that many business partners have approached them with very good offers. “Perhaps this week, we will announce trade agreements with some of our largest business partners,” he added.
Market reaction
These comments do not seem to help the US dollar to remain resilient against its rivals. At the time of the press, the US dollar index fell 0.4% on the day at 99.37.
FAQ prices
Prices are customs duties levied on certain imports of goods or in a product category. The prices are designed to help local producers and manufacturers be more competitive on the market by providing a price advantage compared to similar products that can be imported. Prices are widely used as protectionism tools, as well as commercial barriers and import quotas.
Although prices and taxes both generate government income to finance public goods and services, they have several distinctions. The prices are prepared for the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on taxpayers and individual companies, while prices are paid by importers.
There are two schools of thought among economists concerning the use of prices. While some argue that prices are necessary to protect national industries and approach commercial imbalances, others see them as a harmful tool that could potentially generate long-term prices and lead to harmful trade war by encouraging the tariffs of Tit-For-Tat.
During the presidential election in November 2024, Donald Trump clearly indicated that he intended to use prices to support the American economy and American producers. In 2024, Mexico, China and Canada represented 42% of the total American imports. During this period, Mexico stood out as the best exporter with $ 466.6 billion, according to US Census Bureau. Consequently, Trump wants to focus on these three nations during the taxation of prices. It also plans to use the income generated through prices to reduce individual income taxes.
