Trade Tensions: Trump's New Tariff Strategies Shake Global Markets
President Donald Trump's proposed tariffs have caused international anticipation and concern, prompting numerous trade negotiations. Amid global economic restructuring, Trump initiated a 90-day negotiation period with Mexico to potentially avoid higher tariffs. His administration has reached agreements with several nations, yet uncertainty persists for others like Switzerland and Norway.
- Country:
- United States
President Donald Trump's proposed tariffs, slated for implementation on Friday, have stirred significant international response as key trade partners scramble to negotiate terms. Despite the looming deadline, many nations remain uncertain about the specific taxes their goods might face, adding an element of unpredictability to the situation.
On Thursday, Trump announced a 90-day negotiation window with Mexico, ensuring the temporary retention of existing 25 per cent tariffs. This move provides partial clarity in the extensive reevaluation of global economic frameworks, necessitating a new executive order from the President.
Deals have been struck with South Korea, the European Union, Japan, Indonesia, and others, but the uncertainty remains for countries like Switzerland and Norway. Even the announcement of an agreement isn't fully reassuring, as many await the detailed document finalizing trade frameworks under the proposed tariffs.
(With inputs from agencies.)
Google News