#TrumpTariffs

The tariffs imposed by former U.S. 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 about the cumulative effects of these policies, with the World Bank indicating a projected decline in global growth to its lowest levels in decades, while analytical bodies estimated that the tariffs impose an annual burden on American households that could exceed $1,200, with a reduction in real income reaching 8% over the long term. Amid increasing legal challenges to the legal basis for these tariffs, the U.S. administration is considering alternative options to ensure their continuation, signaling 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 of inflationary pressures on global markets.