Overview

• President Trump declared a national economic emergency to justify the tariffs under the International Emergency Economic Powers Act.
• The 10% baseline tariff will take effect on April 5, with higher reciprocal tariffs targeting countries like China (34%), the EU (20%), and Vietnam (46%) starting April 9.
• Economists warn the tariffs could raise consumer prices, disrupt supply chains, and increase the likelihood of a U.S. recession.
• Key U.S. trading partners, including the European Union and China, have pledged retaliatory measures, escalating global trade tensions.
• U.S. markets reacted negatively, with significant drops in stock futures reflecting investor concerns over inflation and economic instability.