#TrumpTariffs
🔹 Key Recent Measures
"Liberation Day" Tariffs: Trump declared April 2, 2025, as "Economic Liberation Day," imposing a base tariff of 10% on all imports, excluding Canada and Mexico. In addition, additional tariffs were imposed on approximately 60 countries, with rates reaching up to 54% for Chinese products, in addition to existing tariffs.
Temporary Tariff Reductions on China: Following negotiations, the US reduced tariffs on Chinese products from 145% to 30%, while China reduced its tariffs from 125% to 10%. This 90-day truce seeks to ease trade tensions.
Elimination of the de minimis exemption: The exemption that allowed duty-free imports of low-value goods (less than $800) from China was eliminated. Now, these packages are subject to a 54% tariff, affecting platforms like Shein and Temu.
🔹 Reactions and consequences
Legal lawsuits: Five small US businesses have filed a lawsuit arguing that Trump exceeded his authority by imposing these tariffs under a national emergency declaration.
Impact in Latin America: Mexico, in response to US protectionist policies, proposes new rules of origin in the USMCA to limit Chinese imports into North America.
Reactions in Europe: Spain has approved a €14.32 billion plan to mitigate the economic impact of US tariffs, including aid to exporting and importing companies.