SECTORAL TARIFFS
A 50 per cent tariff on copper pipes and wiring will kick in on Friday, Trump announced on Wednesday.
Details of the levy, though, fell short of the sweeping restrictions expected and left out copper input materials such as ores, concentrates and cathodes.
Steel and aluminium imports are also subject to a 50 per cent levy.
WHICH COUNTRIES HAVE NOT STRUCK DEALS?
Earlier this month, Trump sent letters to some countries warning of steeper tariffs if no deals were made with the US by Aug 1.
Some of these countries have yet to announce agreements with Washington.
In Asia, Myanmar, Laos, Brunei, Bangladesh and Sri Lanka have not struck deals with the US yet.
On Thursday, Malaysian Prime Minister Anwar Ibrahim said he had spoken with Trump, and that US tariff rates on Malaysia would be announced on Friday.
US Commerce Secretary Howard Lutnick said in an interview with Fox News on Wednesday the US had made trade deals with Cambodia and Thailand. No further details were provided.
WEAPONISING TRADE
Trump is not the first person to weaponise trade for political objectives, Reinsch said, adding that “the Chinese have been doing it for years”.
“It’s not a new thing,” he said. “But it’s a very worrisome thing because it’s very hard to negotiate that.”
“What he’s telling the Indians is you need to change your foreign policy – and that’s a big ask. That’s different from saying you need to lower your tariffs,” Reinsch said.
Trump is also “really intervening in the sovereignty” of Brazil with his demand and it is very hard to have a negotiation about that, he added.
The US president said tariffs on Brazil were to fight what he has called a “witch hunt” against former president Jair Bolsonaro. Trump’s administration also unveiled sanctions on the Brazilian supreme court justice who has been overseeing Bolsonaro’s trial on charges of plotting a coup.
“I’m very worried this is going to become a common tactic and I don’t know how we’re gonna deal with it,” said Reinsch.
“I don’t know how other countries are gonna deal with it.”
