#TrumpTariffs
The tariffs imposed by former President Donald Trump have returned to the forefront of global economic discussions following renewed trade negotiations between Washington and Beijing, which recently resulted in a temporary framework to ease restrictions on certain strategic goods. The new agreement focuses on allowing the export of rare earth metals from China in exchange for easing some U.S. restrictions on advanced technology. Despite this progress, the tariffs on key sectors such as semiconductors, aircraft, and pharmaceuticals remain in place, reflecting ongoing tensions in the global trade landscape. Major economic institutions have warned of the cumulative effects of these policies, with the World Bank indicating an expected decline in global growth to its lowest levels in decades, while analytical entities estimate that the tariffs add an annual burden on American households that could exceed $1,200, with a decline in real income of up to 8% in the long term. Amid increasing legal challenges against the legal basis for these tariffs, the U.S. administration is exploring alternative options to ensure their continuity, signaling a potential reshaping of the international trade landscape once again. Analysts also expect a rise in prices for certain technology and consumer products, amid concerns of renewed inflationary pressure on global markets.
