US Implements Sweeping Tariffs, Sparking Global Trade Concerns
Last Updated: May 6, 2025
In early April 2025, the US government enacted significant trade policy changes, introducing a baseline 10% tariff on imports from most countries (effective April 5) and announcing specific "reciprocal tariffs" for 57 partners based on trade deficits (effective April 9 but paused for 90 days for most, excluding China's 34% rate).
Aimed at reducing the US trade deficit, these actions drew criticism from bodies like UNCTAD for potentially harming smaller economies. Trading partners are considering responses, with the EU possibly joining Canada's WTO challenge against related US steel/aluminum tariffs.
Source: The National Law Review