#TrumpTariffs

The tariffs imposed by former President Donald Trump have brought the discussion of global economic issues back to the forefront 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 the easing of 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 impacts of these policies, with the World Bank noting an expected decline in global growth to its lowest levels in decades, while analytical entities estimated that the tariffs impose an annual burden on American households that could exceed $1,200, with a real income decline of up to 8% in the long term. Amid increasing legal challenges to the legal basis for these tariffs, the U.S. administration is exploring alternative options to ensure their continuity, raising concerns of a potential reshaping of the international trade landscape once again. Analysts also expect a rise in prices for certain technological and consumer products, amid concerns of a return to inflationary pressures on global markets.