Trump announced the positive effects of the duties on the United States

On April 17, the American leader Donald Trump accused the head of the Federal Reserve System (FRS, Central Bank of the USA) Jerome Powell made erroneous forecasts and said that import duties have a beneficial effect on the country's economy.

The US president pointed to another reduction in interest rates at the European Central Bank (ECB), while the head of the Federal Reserve is late with a similar decision.

"Oil prices are falling, food (even eggs!) they are getting cheaper, and the United States is getting richer on duties," the politician wrote on the Truth Social network.

Earlier, Powell expressed the opinion that the White House's foreign trade policy could slow down the growth of the American economy and accelerate inflation.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

On April 2, Trump announced large-scale trade measures: base tariffs of 10% are being introduced for all products supplied to the United States. For Europe, this figure has been increased to 20%, and for China — to 34%.

A week later, the president announced the suspension of tariffs previously imposed on a number of countries for 90 days, while announcing an immediate increase in duties on products from China to 125%. On April 10, this figure reached 145%.