Tag: Trade Act of 1974

On April 2, 2025, President Donald Trump announced a sweeping overhaul of U.S. trade policy, introducing a baseline 10% tariff on all imports and significantly higher rates for certain countries, notably China. This move, termed "Liberation Day" by the administration, aimed to address longstanding trade imbalances and protect domestic industries. The immediate aftermath saw global markets plunge, with the S&P 500 experiencing its worst single-day decline since the 2020 pandemic-induced crash . However, a subsequent 90-day tariff pause, announced on April 9, led to a market rebound, highlighting the volatility and uncertainty surrounding the administration's trade strategies.

On May 13, 2025, China's Ministry of Finance announced a significant policy shift: China's 90-Day Tariff Reduction on U.S. goods to 10%, effective from May 14. This move marks a notable de-escalation in the ongoing trade tensions between the world's two largest economies. The decision follows a series of reciprocal tariff increases that had escalated to unprecedented levels, with U.S. tariffs on Chinese goods reaching 145% and Chinese tariffs on U.S. goods peaking at 125% .

In early 2025, President Donald Trump reasserted his "America First" trade agenda, initiating a series of aggressive tariff measures aimed at addressing longstanding trade deficits and promoting domestic manufacturing. These policies, characterized by substantial tariffs on imports from key trading partners, have led to significant market volatility and raised complex legal questions regarding the extent of executive power in trade matters.

On May 8, 2025, the U.S.-U.K. trade framework aimed at alleviating some of the tariffs imposed in recent years. This agreement marks a significant development in international trade relations, particularly in the context of President Donald Trump's "Liberation Day" tariffs, which introduced a 10% baseline tariff on imports and higher rates on specific goods. The new framework seeks to reduce tariffs on certain products, such as British automobiles and steel, while maintaining others. It also opens up the U.K. market to more U.S. agricultural exports.

In April 2025, the United States and China agreed to a 90-day reduction in tariffs, lowering U.S. duties on Chinese imports from 145% to 30% and China's tariffs on U.S. goods from 125% to 10%. This temporary tariff relief prompted U.S. companies to expedite shipments from China, aiming to capitalize on the reduced tariffs before potential increases resume. The trade tensions, rooted in concerns over trade imbalances and national security, have significant implications for global supply chains and economic stability.

U.S.-China Trade Talks: On May 9, 2025, global oil markets experienced a modest uptick, with Brent crude rising to $63.07 per barrel and U.S. West Texas Intermediate reaching $60.12 per barrel. This increase follows a 3% surge the previous day, primarily attributed to easing trade tensions between the United States and China, the world's two largest oil consumers. The anticipation of high-level trade discussions scheduled for May 10 in Switzerland between U.S. Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng has injected cautious optimism into the markets.