Tag: U.S. trade policy

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.

Introduction In the May 2025 issue of National Review, the editorial board presents a thematic exploration titled "Trade-Offs," delving into the complexities and consequences of...

In 2025, the United States found itself at a crossroads in economic governance and constitutional authority. Following President Donald Trump’s re-election, the administration reinvigorated its protectionist trade agenda, dramatically escalating tariffs on a wide array of imports. These tariffs, extending beyond specific industries to broad sectors of consumer goods, were implemented under emergency powers justified by claims of national security and economic self-defense.

In a move that signals a significant shift in American trade diplomacy, U.S. Trade Representative (USTR) Jamieson Greer confirmed on April 30, 2025, that a series of limited trade agreements could be finalized within weeks—deals spanning nations like the United Kingdom, Saudi Arabia, the Philippines, and others. Yet conspicuously missing from these negotiations is China, the United States’ largest bilateral trading partner for most of the last two decades. Greer acknowledged that no formal trade discussions are currently underway with Beijing.

The global financial landscape has entered a period of heightened volatility, with markets responding swiftly to the U.S. administration's announcement of softened auto tariffs. According to Reuters, President Donald Trump's government has indicated a strategic pivot from its aggressive tariff policy, a decision that buoyed global equities and strengthened the dollar (Reuters, April 29, 2025).

On April 22, 2025, the International Monetary Fund (IMF) issued a grim warning that sent ripples through financial markets and global policymaking communities: the sweeping tariff increases initiated by former U.S. President Donald Trump had unleashed what it termed a "major negative shock" to the global economy. This dramatic development, paired with downgraded growth forecasts for nearly every major economy—including the United States, United Kingdom, and numerous developing countries—ushers in a critical juncture in trade policy, international economic law, and global governance.