"President Trump has announced the U.S. will send letters to foreign governments detailing specific tariff rates on imports, marking a shift from previous trade strategies."
"The administration will favor a simple, reciprocal tariff structure rather than negotiating individual deals with over 170 countries, sending letters in batches of ten."
"Many countries are expected to receive tariff rates between 20% and 30% as negotiations have stalled, with Britain being an exception after securing a deal."
"Trade wars introduce volatility into the global economy, causing hesitation in IT spending due to uncertainty; companies are prioritizing investments in financial operations."
The U.S. will begin sending letters detailing specific tariff rates to foreign governments, marking a shift from negotiating individual trade deals with over 170 countries. The new approach will implement reciprocal tariff rates expected to be between 20% and 30%. Despite a temporary cap on tariffs at 10%, many countries, except Britain, have not entered formal trade discussions. Economic volatility caused by trade wars affects major enterprises, leading them to delay IT investments while prioritizing risk-averse spending in mission-critical operations and supplier relationships.
Read at London Business News | Londonlovesbusiness.com
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