Trump’s three -digit fare is essentially

President Donald Trump According to economist Eric York, the increase in import tariffs from China would mostly end the most trade between this country and the US.

“It depends on how narrowly applies the tariff or how wide it is, but usually if you get north from the tariff in the triple value, you reduce the majority of trade,”-said the vice president of the federal tax policy center “Exchange“Thursday.” Perhaps there may still be some things without any substitutes, which companies just have to make a bill, but for the most part it cut off. “

Her remarks came against the market, wiping out some of his monsters observed on Wednesday. The market accelerated on Thursday as soon as the White House official confirmed CNBC that the tariff for the tariff for Chinese goods for Chinese goods Now is 145%. The total amount is up to 125%of 84%, which Trump announced on Wednesday, as well as 20%related to Fentonil previously introduced by the president.

York emphasized that the market is still not understandable, saying that “this is not the way the threat has gone completely” because the clarity is not expected by July, when the tariff reversal is planned.

On Wednesday, Trump announced he Temporarily reducing the tariff rates Imports from most countries except China, up to 10% for 90 days. At the Cabinet meeting on Thursday the President refused to turn off the possibility of expanding 90-day appeal.

Given the tariffs for China, the starting 10% are in place, and other tariffs for the sector, Trump still accepted the country in its most protectionist position for decades, even with a pause.

“This will require an average tariff rate to highs that we have not seen since the 1940s, so the main thing,” the economist added. “This is a huge increase in expenses. This is an economic blow. It clearly does not set us on a very good way.”

Tax Fund estimates, all new tariffs on Trump will be lead to an increase in federal tax revenues This year, $ 171.6 billion. This would make tariffs for Trump’s greatest increase in taxes since 1993 than hiking in both former George W. and Barack Obama presidents, the institution showed.

In China there is said it didn’t shudder When the dynamics of trade had to grow into a trade war. Just a few hours before Trump’s tariff statement, China raised its US import supplements up to 84% of 34%, which came into force on Thursday.