Overview

• President Trump has confirmed the implementation of widespread tariffs on April 2, targeting all trading partners with reciprocal measures to address trade imbalances.
• The tariffs include a 25% levy on steel, aluminum, and car imports, as well as a 20% tariff on goods from China, with potential for broader 20% global tariffs under consideration.
• Trump has threatened secondary tariffs on Russian oil if peace negotiations with Russia over Ukraine fail, linking trade measures to geopolitical outcomes.
• Key trading partners, including Canada, China, and the EU, are preparing retaliatory actions, while economists warn of inflation and price increases for U.S. consumers.
• The administration is also exploring industry-specific tariffs on critical minerals, as Trump continues to emphasize his 'America First' agenda despite economic and geopolitical concerns.