The highest investment agreement lawyer on Trump’s tariffs when the dust settles: “In many ways there is every loser”

The closest things for the winners may be countries that have captivated Trump’s request – and avoid even more pain. However, it is not clear where someone in the long run will be able to win victory – even the United States, the intended recipient of Trump’s protection.

“In many ways, every loser is here,” said Barry Appleton, co -founder of the Center for International Law at New York Law School.

As soon as he returned to the White House, Trump demolished the old global economic order. Gone is built on agreed rules. There is a system in which Trump itself sets rules, using a huge US economic power to punish a country that disagrees with unilateral business agreements and the acquisition of huge concessions from those they do.

“Trump is the biggest winner,” said Alan Wolff, an American business official form and a deputy CEO of the World Trade Organization. “He bet he could get another country to the table on the basis of threats and he successfully – dramatically.”

Everhyting returns to what Trump calls “Liberation Day” – April 2 – when the President announced “reciprocal” taxes up to 50% of imports from countries with which the United States carried out business deficits and 10% “basic” tax for almost all.

It triggered a law of 1977 to declare a business deficit of a national emergency situation that justified its extensive import tax. This allowed him to circumvent the congress, which traditionally had the power to tax, belonged to tariffs – all of this is now just attacked.

Winners will still pay higher tariffs than before Trump got on

Trump temporarily retreated after his announcement of the day of liberation caused a routine on the financial markets and for 90 days the reciprocal tariffs developed to give the country to negotiate.

In the end, some of them were made, covering Trump’s request to pay for what had always seemed to not think high tariffs for the privilege of selling to the huge US market a month ago.

The United Kingdom agreed with 10% of tariffs to export to the United States – from 1.3% before Trump intensified his trade war with the world. The US required concessions, although they carried out a trade surplus, not a deficit, with Great Britain for 19 years.

The European Union and Japan receive US tariffs 15%. They are much higher than the low single -digit rates that they paid last year, but lower than the tariffs they endanger (30% per EU and 25% in Japan).

Pakistan, South Korea, Vietnam, Indonesia and the Philippines were also reducing Trump’s and agrees with resistant tariffs.

Even countries that have seen their tariffs since April without achieving agreements still pay much higher tariffs than in front of Trump’s office. For example, the Angola tariff dropped to 15% of 32% in April, which is less than 1.5% in 2022. And while Trump’s administration has reduced Taiwan’s tariff to 20% of 32% in April, the bread will still be felt.

“20% from the beginning is not our goal, we hope that in the next negotiations we will get a more advantageous and sensible tax rate,” said Tajwan’s President Lai Ching-TE on Friday to journalists.

Trump also agreed to reduce the tariff to the small South African Kingdom of Lesotho to 15% of the 50% he announced in April, but the damage may have already been caused.

Bashing Brazil, Clobbering Canada, Shellacking The Swiss

Countries that did not slip under – and countries that found other ways not to aim Trump’s anger – were hit heavier.

This country SOM can save the country. The annual economic production of Laos ranges from $ 2.100 per person and Algeria $ 5.600 – compared to US $ 75,000. However, Laos swung with a 40% tariff and Algeria with a 30% fee.

Trump killed Brazil with a 50% import tax, because he did not like how he treated Brazilian President Jair Bolsonar, who tried to lose his electoral defeat in 2022 in 2022.

Trump’s decision to plaster 35% of the long -term American ally Canada was partially designed to endanger Ottawa for recognizing the Palestinian state. Trump is a fixed supporter of Israeli Prime Minister Benjamin Netanyahu.

Switzerland was confused with 39% import tax – even higher than 31% Trump originally announced 2 April.

“Switzerland is likely to want to camp in Washington” to conclude an agreement, Wolff, now a senior college at the Peterson Institute for the International Economy. “Obviously not happy.” ”

Fortuns may change if Trump’s tariffs are improved in court. The presider sued five US companies and 12 states and claims that his tariffs Libeirs exceeded his authority under the 1977 law.

In May, the US International Trade, a specialized court in New York, agreed and blocked tariffs, although government could continue to collect them, while its appeal is through the legal system and probably ends. On Thursday, the judges sounded skeptically skeptically about the American short appeal to the federal district of Trump’s justification.

“If (tariffs) interfere, then the winner of Brazil is possible and not the loser,” Applet said.

Pay more for backpacks and video games

Trump shows its tariffs as a tax on foreign countries. In fact, however, they are paid by import companies in the US that seek to pass their customers through high prices. It is true that tariffs can hurt other countries by forcing their exporters to reduce prices and sacrifice profits – or the risk of loss of market share in the United States.

However, Goldman Sachs’s economist estimates that foreign exporters have only absorbed a fifth of rising tariffs, while Americans and US companies raised the most cards.

Walmart, Procter & Gamble, Ford, Best Buy, Adidas, Nike, Mattel and Stanley Black & Decker have all the prizes for American tariffs

“This is a consumption tax, so it disproportionately affects those who have low stimuli,” Appleton said. “Sneakers, backpacks … Your appliances are going up. Your TV and electronics will rise.

According to the Budget Laboratory at Yale University, the Trump Trade War was promoted an average American tariff from 2.5% at the beginning of 2025 to 18.3%, the highest since 1934.

“The American consumer is a big loser,” Wolff said.

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Ap Christopher Rugaber, the writer of the AP Christopher Rugaber, contributed to this story.