#TrumpTariffs

US President Donald Trump's tariffs have returned to the forefront of global economic debate following renewed trade negotiations between Washington and Beijing, which recently resulted in a temporary framework for easing restrictions on certain strategic goods. The new agreement focuses on allowing the export of rare earth minerals from China in exchange for easing some US restrictions on advanced technology. Despite this progress, tariffs on key sectors such as microchips, 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. The World Bank has indicated an expected decline in global growth to its lowest levels in decades, while analysts have estimated that the tariffs add an annual burden on American households that could exceed $1,200, with a long-term decline in real income of up to 8%. Amid mounting legal challenges to the legal basis for these tariffs, the US administration is considering alternative options to ensure their continuity, which threatens to reshape the international trade landscape once again. Analysts also expect a rise in the prices of some technology and consumer products, amid concerns about the return of inflationary pressure on global markets.