Overview

• The first phase of U.S. tariffs, imposing a minimum 10% duty on all imports, is set to take effect on April 5, 2025, with higher country-specific tariffs following on April 9.
• The European Union and China have condemned the tariffs, with the EU finalizing countermeasures and China vowing retaliatory actions to protect its economic interests.
• Global financial markets remain volatile, with significant declines in stock indices and currency fluctuations reflecting fears of a global economic slowdown.
• The tariffs exclude sectors like pharmaceuticals and energy products, and their rates are reportedly calculated based on trade deficits with each country.
• International leaders, including Emmanuel Macron and Ursula von der Leyen, are calling for negotiations but preparing for escalated trade conflicts if resolutions are not reached.