Trump’s 2025 Tariffs Explained: What “Reciprocal Trade” Really Means for America

Trump’s 2025 Tariffs Explained: What “Reciprocal Trade” Really Means for America

Total Tru Matrix Score: 8.8 / 10

Category Score (1–10) Rationale
Primary Evidence Quality 9 Relies heavily on government data, WTO statistics, and direct official quotes, with excellent citation quality.
Source Credibility 9 Sources include USTR, WTO, BEA, Reuters, and Peterson Institute – all reputable and widely trusted.
Source Ownership 8 Most sources are public or journalistic; some White House framing is included but balanced with outside perspectives.
Verification Feasibility 10 All major claims are linked or traceable to public databases or official releases.
Topic Status 8 The issue is still evolving in 2025, but current facts and policies are clearly established.

This analysis reflects a high degree of factual integrity and is suitable for public understanding and further investigation.

“Reciprocal Tariffs”: Resetting the Playing Field in Global Trade?

In early 2025, former President Donald Trump — newly re-elected and eager to pursue his “America First” trade agenda — unveiled sweeping new tariffs on U.S. imports, branding them as “reciprocal tariffs.” He argued these measures were needed to counter what he described as decades of unfair foreign tariffs that “rip off” American exporters. euronews.com


This is Sussquatches' research into this topic, created as an objective, non-rhetorical analysis of the facts.

 

Standing in the White House Rose Garden on April 2, 2025, Trump announced a blanket 10% tariff on almost all imports, with additional country-specific tariffs up to 20–50% on nations he said were treating U.S. goods unfairly reuters.com. “They charge us 39%, we’re going to charge 20% – so we're charging them essentially half,” Trump declared, referencing the European Union as an example euronews.com. His message was clear: the U.S. would mirror or counteract foreign trade barriers, forcing other countries to the negotiating table. Trump’s bold claims, however, met immediate skepticism from economists and allies abroad. EU officials pointed out that Europe’s actual import tariffs on U.S. goods average around 3–5%, nowhere near the “39%” Trump cited euronews.com.

 

Similar concerns echoed globally, as partners feared an escalating tariff war. This analysis digs into the data behind Trump’s tariff offensive in 2024–2025, examining the foreign tariffs and trade imbalances it was responding to, the economic and geopolitical rationale offered, and the likely impacts on global trade. We draw on U.S. and international trade data, official reports, and expert commentary to separate rhetoric from reality.

 

Global Tariffs on U.S. Exports: The Landscape Before 2025

 

To understand Trump’s reciprocal tariff strategy, it’s important to first look at the playing field of global tariffs before these measures. The United States has long had one of the world’s lowest tariff regimes. According to the World Trade Organization, the U.S. applied an average MFN tariff of only about 3.3% on imported goods in recent years whitehouse.gov. In contrast, many U.S. trading partners maintain higher average tariffs on imports (including those from the U.S.): for example, China’s average tariff is about 7.5%, the European Union’s about 5%, Brazil’s 11.2%, India’s 17%, and Vietnam’s 9.4% whitehouse.gov. In Trump’s view, this disparity put U.S. exporters at a constant disadvantage.

 

Indeed, American companies often face steeper foreign tariffs in certain industries. Consider the automotive sector: the U.S. levies only a 2.5% tariff on imported passenger cars, while the EU charges 10% on cars imported from the U.S., India a whopping 70%, and China 15% whitehouse.gov. Similarly, many agricultural and consumer goods carry far higher foreign tariffs: for instance, American apples enter most countries with high duties (India imposes 50%; Turkey over 60%) even though the U.S. admits apples tariff-free whitehouse.gov. These examples, highlighted in a recent White House report, underscore a lack of reciprocity – foreign markets are often more closed to U.S. exports than the U.S. market is to their goodswhitehouse.gov, whitehouse.gov. Non-tariff barriers compound the challenge: U.S. trade officials’ 2025 National Trade Estimate report cataloged myriad foreign practices that hinder U.S. exports, from restrictive licensing and standards to discriminatory regulations and subsidies whitehouse.gov, whitehouse.gov.

 

Trump seized on these imbalances to justify a broad reset of trade terms. In a presidential proclamation, he argued that “disparate tariff rates and non-tariff barriers” against U.S. goods, along with trading partners’ policies that suppress their own consumption (thus limiting imports), have led to “large and persistent U.S. goods trade deficits” – a situation he declared a national emergency for the United States whitehouse.gov, whitehouse.gov. By late 2024, U.S. officials were openly criticizing how past trade agreements hadn’t delivered true reciprocity. They noted that while the WTO era brought global tariff reductions, many countries “did not agree to bind their tariff rates at similarly low levels or to apply tariffs on a reciprocal basis” whitehouse.gov. In other words, the U.S. cut its tariffs further and faster than others, and now the Trump administration wanted to correct course.

 

Trade Imbalances as a Driving Motivation

 

Behind Trump’s tariff push was a long-festering issue: the massive U.S. trade deficit in goods. America has imported far more than it exports for decades, and by 2024 this gap had reached record levels. In 2024, the U.S. goods trade deficit hit approximately $1.21 trillion (goods exports of ~$3.19 trillion vs. imports of ~$4.40 trillion) bea.gov. Even after accounting for America’s surplus in services trade, the overall trade deficit was about $918 billion – up 17% from the prior year bea.gov. Trump has consistently viewed such deficits as evidence of unfair trade and “bad deals,” and he made reducing them a top priority.

 

Top U.S. Goods Trade Deficits by country in 2024. China alone accounted for nearly a third of the overall U.S. goods deficit. (Data from USTR) linkedin.com

 

The U.S. goods deficit is heavily concentrated with certain partners. In 2024, China was by far the largest contributor – the U.S. imported $439 billion in goods from China while exporting only $144 billion, yielding a $295.4 billion trade deficit ustr.gov. Mexico was next, with a $171.8 billion deficit ustr.gov, followed by Vietnam at $123.5 billion ustr.gov. Other major deficits included Ireland (~$86.7B), Germany (~$84.8B), Taiwan (~$74B), Japan (~$68.5B), and South Korea (~$66B) linkedin.com. (By comparison, U.S. trade with Canada was nearly balanced, and the U.S. actually ran surpluses with a few nations like the UK and Brazil.) These imbalances have grown despite past trade agreements, fueling Trump’s argument that new, more confrontational tactics were needed.

 

Trump’s team asserted that such imbalances harm U.S. industries and workers“hollowing out” factories and making the country dangerously reliant on imports whitehouse.gov. The White House contended that some foreign governments actively engineer these surpluses through unfair means: keeping their own wages low and currencies undervalued, subsidizing exports, erecting barriers to U.S. goods, and so on whitehouse.gov, whitehouse.gov. By early 2025, Trump explicitly tied these issues to national security, stating that dependence on foreign supply chains (even for critical materials and defense needs) was untenable whitehouse.gov, whitehouse.gov. This rationale set the stage for aggressive measures to “reset” global trade relationships.

 

The 2024–25 Tariff Offensive: “Reciprocal Tariffs” Unpacked

 

Armed with the above justifications, President Trump moved to impose a sweeping set of tariffs soon after taking office in January 2025. Brushing aside the traditional free-trade orthodoxy in Washington, the administration introduced what it called “reciprocal tariffs”: duties calibrated country-by-country in proportion to how restrictive or unbalanced the U.S. relationship was with each trading partner. In practice, this meant most countries would face at least a 10% import tariff when selling to the U.S., and many would face much higher rates – tens of percent in some cases reuters.com.

 

However, it quickly emerged that these tariff rates were not simply mirror images of the tariffs those countries charge on U.S. goods (despite Trump’s rhetoric about “matching” foreign tariffs). Instead, the White House devised a formula based on trade deficits. According to administration officials, “reciprocal tariffs are calculated as the tariff rate necessary to balance bilateral trade deficits” business-standard.com. In other words, they assumed that a country’s trade surplus with the U.S. is roughly equivalent to the impact of that country’s tariffs and other barriers – a debatable proposition.

 

The method was as follows: for each country, take the U.S. goods trade deficit and divide it by the total U.S. import value from that country, yielding a percentage business-standard.com. This percentage (the ratio of deficit to imports) was treated as a proxy for that country’s “tariff burden” on the U.S., even though it actually reflects many factors (consumer demand, competitiveness, currency values, etc.). Finally, the U.S. would impose roughly half of that percentage as the new tariff rate on imports from that country business-standard.com.

 

Using China as an example: In 2024 the U.S. deficit with China was $295.4 billion against $438.9 billion of imports ustr.gov. The deficit was about 67% of import value. Trump’s team cited this as if China were effectively placing a 67% tariff on U.S. goods (though China’s actual average applied tariff was ~23% after the earlier trade war business-standard.com). They then set the initial “reciprocal” U.S. tariff on Chinese goods at roughly half that – about 34% business-standard.com, business-standard.com.

 

India offers another case: U.S. imports from India were $87.4B and the deficit $45.7B, so deficit/import = 52.3%. The administration’s chart listed “52” for India’s tariff burden, and accordingly India was assigned a new 26% U.S. tariff (approximately half of 52%)

business-standard.com, business-standard.com. Dozens of countries were slotted into this formula. Even U.S. allies like Germany (with an ~$85B deficit) and South Korea (~$66B) were tagged for significant tariff hikes, as were trading blocs like the EU (which the administration claimed had a 39% rate, translating to a 20% U.S. tariff) euronews.com.

 

Notably, for countries where the U.S. ran a surplus (meaning the U.S. sells more to them than it buys), the White House did not calculate a high tariff. Instead, it set a flat 10% tariff on their imports as a baseline reciprocal rate business-standard.com. This ensured virtually no country was tariff-free under Trump’s plan – even close partners and poor nations saw at least a 10% duty, unless exempted by a special trade deal. As a result, the unweighted average tariff across all countries would be about 20%, according to USTR, while the import-weighted average U.S. tariff (heavily influenced by big trading nations like China, Vietnam, Mexico, etc.) would shoot up to around 41% business-standard.com. These figures represent a seismic shift: for decades, U.S. average tariffs have hovered in the low single digits whitehouse.gov. Trump’s move effectively aimed to raise them an order of magnitude, back toward levels not seen since the 1920s.

 

It’s important to stress that these “reciprocal” tariffs were often higher than the actual foreign tariffs they purported to counter. This was a key criticism from economists. For example, the EU’s average tariff on U.S. products is about 3–5%, and even in protected categories it rarely exceeds 15–20% euronews.com. Yet Trump authorized a 20% U.S. tariff on all EU goods, based on the U.S.–EU trade imbalance euronews.com. Similarly, Vietnam’s new tariff was set around 46%, despite Vietnam’s average tariff being nowhere near that (Vietnam has a large surplus with the U.S., which drove its calculated rate up) reuters.com. Administration officials effectively conceded this point, noting that the numbers in Trump’s tariff chart “did not necessarily align with the actual tariff rates imposed on American goods by those nations” business-standard.com, business-standard.com.

 

Instead, the figures included broader “currency manipulation and trade barriers” factors and were largely an artifact of the deficit-based formula. Critics argue this approach risks overcorrecting – imposing extremely high tariffs in cases where foreign barriers alone don’t explain the imbalance.

 

Aiming to Level the Field: Tariff Targets and Allies’ Exemptions

 

Trump’s tariff proclamation did include some nuances. Canada and Mexico, for instance, were initially excluded from the blanket 10% tariff and the country-specific hikes – reflecting their status as USMCA (NAFTA replacement) partners intermodal.org. Goods complying with the USMCA trade deal would continue to enter largely duty-free, whereas goods from Canada/Mexico that didn’t meet USMCA rules would face a smaller tariff (12% on most items, or 25% on certain products like steel/aluminum already subject to security tariffs) intermodal.org. This carve-out acknowledged the existing free trade agreement, even as Trump simultaneously pressured Canada and Mexico on other fronts (at one point threatening separate 25% tariffs tied to immigration and fentanyl issues intermodal.org).

 

Likewise, certain critical imports were exempted from the new tariffs regardless of origin. The executive order spared items “not available in sufficient quantity or quality” in the U.S., such as some specialty pharmaceuticals, semiconductors, rare minerals, and critical inputs like specific copper or lumber products intermodal.org. These exceptions were intended to avoid immediately crippling U.S. supply chains for essential goods that Americans cannot source domestically. However, the list of exemptions was relatively narrow. The vast majority of consumer and industrial imports – from electronics and machinery to furniture, apparel, and agricultural products – were slated to get hit by the new duties.

 

Visually, the “reciprocal tariff” regime created a patchwork of rates: each country effectively assigned a unique tariff percentage in the U.S. market. On April 7, 2025, the White House released an annex listing these rates, and a Reuters graphic charted the world according to who would be hit hardest. Major surplus countries like China, Vietnam, Germany, Ireland, Mexico, South Korea, and Japan were shaded deep red, indicating tariffs in the 25–45% range, whereas countries with minor surpluses or deficits were pale (10% base rate).

 

The linked map illustrates the distribution of Trump’s proposed import tariffs by country, with darker red countries facing much steeper U.S. tariffs. https://www.reuters.com

 

In Trump’s framing, this radical realignment was a means to an end. The tariffs were not necessarily meant to be permanent; rather, they were leveraged as “negotiating tools.” The President signaled that countries could escape the higher tariffs by coming to the table and striking new deals that addressed U.S. concerns. “Dozens of countries are offering concessions to head off the tariffs,” a White House spokesman noted, as the April implementation deadline loomed reuters.com. U.S. officials reported they had opened talks with “several [countries] so far, including Japan and South Korea” by early April reuters.com. Trump himself tweeted (on his new Truth Social account) that some nations “want to make a deal, badly,” indicating he was “waiting for their call” and that he believed “It will happen!” reuters.com. The administration’s message: if trading partners lower their tariffs, dismantle unfair barriers, or purchase more American goods, the U.S. is willing to ease off its new tariffs in return.

 

Economic Reactions and Early Impacts

 

The announcement of Trump’s tariff offensive in March–April 2025 sent shockwaves through financial markets and sparked intense debates among economists. For businesses and consumers, the immediate concern was higher costs. Global stock markets swooned in late March as rumors of the sweeping tariffs became reality; by the first week of April, U.S. indices had undergone a “bruising selloff” that erased trillions in market value reuters.com, reuters.com. Investors feared that such broad import taxes would fuel inflation and even tip economies into recession by choking off trade. A quick rebound in markets on April 8 reflected some hope that last-minute negotiations might avert the worst-case scenario reuters.com, reuters.com, but uncertainty remained extremely high.

 

From a consumer perspective, prices were set to jump on many imported goods – essentially a hidden tax. Industry groups like the National Retail Federation warned that the tariffs’ cost “would be too large for U.S. retailers to absorb”, meaning shoppers would pay more for everyday products intermodal.org. An analysis by the Peterson Institute estimated that a 10% tariff on all Chinese goods (far smaller than what Trump ultimately imposed) would still raise U.S. inflation by about 0.2 percentage points if China retaliated intermodal.org. Here, the tariffs on China were three to four times higher, and dozens of other countries were also targeted, magnifying the potential inflationary effect. Everything from electronics and appliances to clothing, toys, and food imports faced hikes. One trade association for clothing retailers reported its members were delaying orders and bracing to raise prices, noting for example that running shoes made in Vietnam (retail ~$155) would likely cost $220 under Trump’s 46% tariff on Vietnam reuters.com, reuters.com. Some consumers even rushed to stock up on staples before prices rose; a New Jersey shopper told Reuters, “I’m buying double of whatever – beans, canned goods, flour, you name it,” in anticipation of the tariffs kicking in reuters.com.

 

Economically, the tariffs act much like a broad-based sales tax on imports. In the short run, they transfer tens of billions of dollars from U.S. importers (and ultimately consumers) to the U.S. Treasury in the form of duties. But they also tend to reduce trade volumes. Analysts projected a significant drag on both U.S. and global growth if the tariffs stayed in place for long. The Peterson Institute modeled that if the U.S. imposed 25% tariffs on all imports from Canada and Mexico, U.S. GDP could end up about $200 billion lower over a few years than it would be otherwise intermodal.org. Trump’s actual tariffs on those neighbors were more targeted (given the USMCA exceptions), but for China, Europe, and others, the scale was similar or larger. By one estimate, the import-weighted average U.S. tariff under Trump’s plan (~41%) is close to Smoot–Hawley Tariff Act levels (the notorious protectionist law of 1930), which many economists blame for deepening the Great Depression business-standard.comWhile today’s economy is different, such comparisons underscore the risk of overcorrecting via tariff walls.

 

On the other hand, some U.S. industries and labor groups cheered aspects of the tariff plan. Domestic steel and aluminum makers, for example, had already benefited from Trump’s earlier 25% metal tariffs and stood to gain from any further protection against foreign competitors. Advocates of reshoring supply chains argued that higher import costs would spur more manufacturing in the United States, creating jobs and reducing reliance on China. Trump’s allies in Congress, like Senator J.D. Vance, defended the tariffs as painful but necessary medicine. Vance criticized America’s prior economic model as one where “we borrow money from Chinese peasants to buy the things those Chinese peasants manufacture” – a cycle he says hurt U.S. workers and enriched China reuters.com. By that logic, breaking the cycle via tariffs could, in theory, revive U.S. factories. However, even many manufacturing firms were uneasy, given how globally intertwined supply chains had become. U.S. companies that export – notably in agriculture and aerospace – braced for foreign retaliation, while those relying on imported components feared losing access or paying much more.

 

Foreign Blowback and Geopolitical Chess Moves

 

Unsurprisingly, America’s trading partners did not take Trump’s tariff salvo lightly. China, in particular, responded with force, igniting a new round of the U.S.–China trade war. Beijing blasted the U.S. tariffs as “blatant unilateralism” and a violation of WTO rules, and on April 4, 2025, China’s Finance Ministry announced sweeping countermeasures reuters.com, reuters.com. China imposed an extra 34% tariff on all U.S. goods effective April 10, on top of smaller retaliatory tariffs (10–15%) it had placed on certain U.S. farm goods and machinery earlier in the year reuters.com. This move drove China’s average tariff on American imports up to an eye-popping ~22.6% (much higher on targeted items) piie.com. Beijing also wielded other tools: it restricted exports of certain rare earth minerals critical to U.S. industry reuters.com and expanded its “unreliable entities” blacklist to penalize U.S. companies in China reuters.com. Effectively, China signaled it would “fight to the end” rather than bow to what it termed U.S. tariff “blackmail” reuters.com, reuters.com.

 

This escalation raised the prospect of a full-fledged trade war between the world’s two largest economies. By the second week of April, Trump was threatening to ratchet up U.S. tariffs on China to 104% on the next tranche of goods if no deal was reached reuters.com. (It appears this 104% figure was meant to double the tariff in retaliation for China’s 34% counter-tariff, thereby far overshooting the initial “half the imbalance” formula reuters.com.) Global markets shuddered at the prospect: such tariffs are almost prohibitive, essentially halting trade in many categories. At the same time, U.S. and Chinese negotiators quietly began exploring a possible off-ramp. Trump hinted at “talks possible” and noted “China also wants to make a deal, badly”. By late April, observers wondered if a new “Phase Two” agreement or at least a truce might emerge, as both sides had strong incentives to stabilize the situation. Beijing’s strategy included diplomatic outreach to U.S. allies and appeals within the WTO framework – China filed a complaint in Geneva challenging the U.S. actions as inconsistent with most-favored-nation rules and past trade commitments reuters.com.

 

Allies like the European Union found themselves walking a tightrope. The EU was not spared from Trump’s tariffs – facing a flat 20% U.S. tariff on all EU-origin goods euronews.com – but European officials were keen to avoid a breakdown in transatlantic trade. The European Commission prepared a modest retaliatory tariff package (25% on a list of U.S. products like soybeans, nuts, and sausages), signaling Europe would respond but also “stood ready to negotiate” a solution reuters.com.

 

EU leaders sought dialogue with Washington, hoping to clarify and address U.S. grievances without resorting to an all-out tariff war. Sensing the urgency, some EU industries began lobbying for quick concessions: for instance, European pharmaceutical companies warned EU Commission President Ursula von der Leyen that Trump’s tariffs could drive them to shift production and investment toward the U.S. to avoid export costs reuters.com. The EU was already grappling with existing U.S. steel and aluminum tariffs from 2018 and now faced new tariffs on autos and potentially other products reuters.com. Europe’s strategy combined legal action at the WTO, selective retaliation, and behind-the-scenes talks aimed at perhaps a mini-deal (for example, lowering EU car tariffs in exchange for the U.S. suspending the 20% duty on European goods). As of April 2025, no EU–US settlement had been reached, but diplomatic channels were open.

 

Other countries reacted in their own ways. Vietnam, suddenly one of the hardest-hit by Trump’s policy (due to its large surplus in electronics, apparel, and furniture trade), formally requested a 45-day delay in U.S. tariff implementation reuters.com. Hanoi also hinted at offering trade concessions; indeed, Vietnam moved to reduce its own tariffs on certain U.S. goods (such as lowering taxes on American electronics and steel) in hopes of appeasing Washington reuters.com. Indonesia took a similar approach, announcing it would cut or eliminate some import levies on U.S. products as a goodwill gesture, after being tagged with a significant U.S. tariff increase itself reuters.com. These responses indicate that Trump’s hardball tactics were yielding some immediate wins – pushing countries to lower their trade barriers or risk painful U.S. tariffs.

 

Even India, which Trump repeatedly dubbed the “tariff king” for its high duties on certain items, showed signs of accommodation. Prior to the April deadline, India hurriedly removed a 6% digital services tax that had irked U.S. tech companies hindustantimes.com. Indian officials hoped this would reduce tensions, and they engaged in fast-track talks with U.S. trade envoys. By late March 2025, reports suggested India and the U.S. were outlining a bilateral trade deal framework to be finalized later in the year hindustantimes.com. The mooted deal would see both sides lowering select tariffs and easing barriers exclusively for each other, skirting WTO MFN rules by crafting a bilateral pact hindustantimes.com, hindustantimes.com. This underscores a broader impact of Trump’s strategy: it’s fragmenting the multilateral trading system into a web of bilateral negotiations, as countries seek exemptions or special arrangements to dodge the blunt force of U.S. tariffs. Critics note this could undermine the WTO’s authority (which rests on non-discrimination), but proponents argue it may lead to more favorable terms for the U.S. one on one.

 

From a geopolitical perspective, Trump’s reciprocal tariff campaign is a high-stakes gamble. It has placed significant strain on U.S. alliances – for instance, relations with Germany and Japan have been tested as those nations face big tariffs despite their security partnerships with the U.S. On the other hand, some allies share U.S. frustrations with China’s trade practices and have quietly welcomed Washington’s tough stance on Beijing (even if they dislike being hit by tariffs themselves). The tariff confrontation has, to an extent, isolated China by prompting discussions of U.S.–EU–Japan cooperation on addressing China’s subsidies and forced technology transfer policies (topics the WTO has struggled to handle). However, the cost has been a more fragmented global trade environment, with U.S. leadership in question. The Biden administration (in 2021–2024) had tried to mend trade ties and work through alliances; Trump’s return to power reversed that course, favoring unilateral leverage. This has left traditional U.S. trade partners balancing between resisting U.S. pressure and yielding to it for pragmatic reasons.

 

Conclusion: Toward a New Trade Order?

 

Donald Trump’s 2024–2025 tariff actions represent one of the most dramatic overhauls of U.S. trade policy in modern history. By invoking “reciprocity” as a guiding principle, the Trump administration has effectively thrown out the old playbook of gradual liberalization under multilateral rules. In its place is a transactional, hard-nosed approach: the U.S. is aggressively raising tariffs to force other countries to lower theirs (or to buy more American goods), with the threat of even harsher penalties if they retaliate. This strategy is born of genuine issues – many countries do protect their markets more than the U.S. does, and the U.S. does run enormous trade deficits – but the remedy is controversial and risky. Early data and reactions suggest the tariffs have indeed compelled some partners to negotiate, and might well lead to revised trade deals that are more favorable to U.S. exporters. At the same time, the fallout has included higher costs for American consumers and businesses, retaliatory pain for U.S. exporters (especially farmers, who lost market share in China to Brazilian competitors amid the tariff fight reuters.com, reuters.com), and a fracturing of international economic cooperation.

 

It is still early days in this “tariff reset.” The coming months will test whether Trump’s gambit yields substantive concessions – such as significant tariff reductions abroad or new purchase commitments that shrink trade deficits – or whether it devolves into tit-for-tat protectionism that weighs down the global economy. A best-case outcome might resemble Trump’s 2020 Phase One deal with China (which had China pledge large U.S. import increases reuters.com, reuters.com, albeit with mixed results), multiplied across many countries. A worst-case scenario could see a proliferation of trade barriers worldwide and a sharp downturn in trade activity. As of April 2025, the world is watching nervously to see if Trump’s bold experiment in “reciprocal tariffs” will truly reset global trade imbalances – or simply upend the rules of the game without putting anything better in place.

 

Sources: U.S. government trade data (USTR, BEA, Census)

ustr.gov

ustr.gov

WTO tariff profiles

whitehouse.gov

White House executive order text

whitehouse.gov

whitehouse.gov

Reuters and Euronews reporting

euronews.com

reuters.com

Business Standard analysis

business-standard.com

business-standard.com

Peterson Institute and industry research

intermodal.org

intermodal.org

 

All links provide further detail on tariff rates, trade figures, and policy responses.

 

 

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