Uganda just scored a big win from Europe as trade fights heat up around the world. The European Union told Uganda it could sell its goods to Europe without paying any taxes. Jan Sadek, who speaks for Europe in Uganda, said any Ugandan stuff except weapons can enter Europe tax-free. He did say that farmers must keep food clean and safe for people to eat.
Europe plans to give Uganda about 32 billion Ugandan shillings to help farmers grow better fruits and veggies. This money will teach them how to meet Europe's tough food safety rules. When farms follow these rules, they can sell more crops to people across Europe. This happens right when America starts charging higher prices on things coming into their country.
The United States began taking extra money from all imports last Saturday. Every item crossing into America must pay ten percent more than before. Even countries that have always helped America must pay these new fees. Donald Trump wants even higher taxes starting April 9th, ranging from eleven percent up to fifty percent extra cost.
Europe will face twenty percent higher prices to sell things in America. China was hit hardest with thirty-four percent extra charges on its products. This adds up to a fifty-four percent total tax on Chinese items entering America. China holds second place among world money-makers, making it a big target for American taxes.
China fought back right away last Friday by imposing a thirty-four percent tax on American goods. They also filed papers with the World Trade Group, saying America broke the rules. Many smart people worry that these countries taxing each other will start a trade war nobody can win. Big-money countries slapping taxes back and forth might hurt business everywhere.
Europe plans to give Uganda about 32 billion Ugandan shillings to help farmers grow better fruits and veggies. This money will teach them how to meet Europe's tough food safety rules. When farms follow these rules, they can sell more crops to people across Europe. This happens right when America starts charging higher prices on things coming into their country.
The United States began taking extra money from all imports last Saturday. Every item crossing into America must pay ten percent more than before. Even countries that have always helped America must pay these new fees. Donald Trump wants even higher taxes starting April 9th, ranging from eleven percent up to fifty percent extra cost.
Europe will face twenty percent higher prices to sell things in America. China was hit hardest with thirty-four percent extra charges on its products. This adds up to a fifty-four percent total tax on Chinese items entering America. China holds second place among world money-makers, making it a big target for American taxes.
China fought back right away last Friday by imposing a thirty-four percent tax on American goods. They also filed papers with the World Trade Group, saying America broke the rules. Many smart people worry that these countries taxing each other will start a trade war nobody can win. Big-money countries slapping taxes back and forth might hurt business everywhere.
