Trump returns to global stage using tariffs
(MENAFN) Six months into his second term, U.S. President Donald Trump has returned to the global stage with a renewed emphasis on tariffs, reigniting trade tensions and fueling uncertainty across financial markets and global supply chains.
Trump’s protectionist economic approach, a hallmark of his first term, has once again taken center stage. In April, he introduced “reciprocal” tariffs ranging from 10% to 50% on most trading partners, sparking sharp reactions in stock markets, commodity prices, and energy sectors. Although he suspended most of those tariffs for 90 days starting April 9, China was excluded from the pause.
A prolonged tariff standoff with China eventually led to a breakthrough, with both sides meeting in London last month and agreeing to roll back some of the punitive measures. However, global trade uncertainty persists as many countries continue to push for more favorable trade terms.
The U.S. has since announced trade deals with the UK, Vietnam, and Indonesia. Meanwhile, Trump has issued formal letters to several governments, notifying them of the tariff rates they’ll face as of August 1 — including 30% for the EU and Mexico, and 35% for Canada.
In addition to general tariff hikes, Trump introduced sector-specific levies: a 25% tariff on all automotive imports in April, a 50% tariff on copper imports beginning August 1, and a sweeping 200% tariff on pharmaceutical products entering the U.S. These measures have drawn sharp criticism from international partners and industry groups, who warn that the escalating trade war may further destabilize the global economy.
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