United States-China, Trump´s tariffs policy impacts world markets

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*Tariffs for automobile imports went into effect on April 3 *These tariffs will hit the poorest families in the country the hardest *Economists forecast an economic recession in the country

Transcript

00:00And the new tariffs imposed by Donald Trump on the world will not only affect the international

00:05economy but could also be a setback for the United States itself.

00:08Our correspondent Enrique Camelo from New York has the story.

00:15The imposition of global tariffs by the Trump administration has shaken world markets.

00:20After the announcement, the main stock markets closed lower due to the uncertainty of the

00:25economic and financial course of this country.

00:28In China, the European Union, Japan and South Korea announced retaliatory measures.

00:33However, economists expect the economic impact to be much less than anticipated.

00:45I think that at the end of the day, the market will adjust.

00:48The other countries can no longer raise tariffs.

00:50So what the United States would do would be to raise them even more so that you no longer

00:54buy a German car and you end up buying a United States car.

00:58No.

00:59And that obviously is not going to benefit literally anyone.

01:07Tariffs for automobiles imported to the United States went into effect as of April 3rd, and

01:11sales have already plummeted, something that has dealership owners very worried.

01:19They're very concerned that the cars are going to become unaffordable, and that's something

01:24that we're concerned about as well, because if the cars aren't affordable, then we can't

01:28help our customers.

01:29You know, that's our primary goal is make sure that our customers are served.

01:34With the new 25 percent tariff on imported cars, U.S. consumers will be paying between

01:41$5,000 and $15,000 more for the purchase of a new car.

01:48We are not going to be able to change our car.

01:50We are simply going to have to maintain it better, take better care of it and move on

01:54– nothing more.

02:02According to a study by the Yale University Research Center, these tariffs will hit the

02:06poorest families in the United States the hardest, who could experience a drop in income

02:10of up to 5.5 percent.

02:12In that sense, the so-called liberation day for Democrat leaders is the beginning of a

02:16new recession.

02:20House Republicans, Senate Republicans and Donald Trump haven't done a single thing

02:25to lower the cost of living in this country.

02:29Not a single bill, not a single executive order.

02:34In fact, Republicans are crashing the American economy in real time and driving us to a recession.

02:44This is not liberation day, it's recession day.

02:47Economists from all over the country agree, predicting an economic recession in the United

02:54States as a result of these new tariffs and the economic war that Trump has declared on

03:00the world.

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