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Trump expands trade war beyond tariffs
- Amidst the flurry of executive orders and the omnipresence of President Trump across the media, it has been challenging to decipher clear trade policy signals from the noise of the first month of the administration
- To recap, despite numerous announcements, Trump has implemented just two key tariff policies thus far – a 10% additional tariff on Chinese goods, and a 25% universal tariff on steel and aluminum imports.
- So far, Trump has not targeted the EU directly, despite his punchy rhetoric on the bloc’s large goods trade surplus with the US.
- With current EU tariffs on the US close to free trade status, this in itself would not be too damaging. Instead, developing countries, such as Brazil and India, with relatively large tariff barriers are set to be hit hardest.
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