US Treasury Secretary Scott Besant said that a stagnation on the US tariff was imposed against several of its business partners, which was expected to end during this week, which has now been pushed back on 1 August. CNN,
However, Besent denied that this new time frame is in fact, a new time frame.
“We are saying that this is when this is happening,” Besent said CNN In the context of the cutoff of 1 August, Roots Reports“If you want to speed up things, it is on it. If you want to go back to the old rate, it is your choice.”
Whatever rate is Trump administration in question Said on 2 AprilSome countries like Japan were killed with 24% tariffs, while others were one against the European Union, 20%. At that time, China was killed with 34% tariff, although it quickly 145% increased to an eye-water First Reducing by 55% after talking.
Meanwhile, it remains one Ongoing legal dispute Does President Trump have the right to administer tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). The US Court of International Trade ruled in late May that Trump did not have authority, although a federal appeal court quickly stepped into. So far, the US Court of appeals are expected to hear arguments on 31 July, to attack new deals for American business partners a day before August.
Bessent says that the President is “sending letters” to some business partners of the US, saying that “If you don’t advance things, you will return to your April 2 tariff level on 1 August. So I think we are going to see a lot of deals very soon.”
Most countries are trading at 10% tariff rate with the United States as global financial markets have been re -linked to Trump’s “Mukti Divas” Tariff on 2 April. It depends on how the conversation between now and 1 August is impossible to guess how tariffs can affect prices by August. However, analysts say the conversation with Japan is not yet good, which puts a dark cloud in the photography market.
Photographers have already struggled with rising prices in cameras and lenses from many major brands, including Canon, Nicon, SigmaAnd SonyJust a few names. Currently, there is little reason for optimism that photo equipment prices will soon return to pre-tariff levels.
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