Trade under Trump: tariffs, trade agreements and what comes next
President Trump has followed through on the trade agenda he laid out at the start of his term, seeking to “rebalance” global trade in favour of the United States. On 7 August, a global regime of reciprocal tariffs came into force, marking a dramatic shift in the trade landscape. Alongside this, the administration has imposed targeted tariffs on autos and auto parts, copper, steel and aluminium, with more sectors including pharmaceuticals, semiconductors and critical minerals, now in its sights.
The result has been a sharp rise in the average effective tariff rate, signalling major changes for…
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