UBS On-Air: Market Moves
Washington Weekly Podcast: The latest on tariffs, Special election takeaways
Apr 3, 2025
Shane Lieberman, Senior Governmental Affairs Advisor at UBS, shares insights on the recent tariff announcements from the White House and their ripple effects on global trading relationships. He discusses how countries like Colombia and Israel are responding to the shifts, alongside Argentina and India advocating for more dialogue. Additionally, Shane analyzes the recent special elections in Florida and Wisconsin, shedding light on voter sentiment and what the results could mean for the upcoming midterms.
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Quick takeaways
- The recent tariffs introduced by the U.S. significantly affect global trading relationships, with varied responses from different nations based on their unique circumstances.
- The outcomes of the special elections in Florida and Wisconsin indicate shifting voter sentiment, highlighting both Republican challenges and Democratic optimism heading into future elections.
Deep dives
Impact of New Tariffs
Recently announced tariffs from the White House extend beyond initial expectations, targeting not only countries with existing tariffs on U.S. products but also adding non-tariff barriers that complicate trade. For instance, Colombia, a nation where the U.S. has a trade surplus, faces a 10% tariff, while Israel, with a trade deficit, sees a higher rate of 17%. There are exceptions, such as for Canada and Mexico, where products compliant with USMCA can avoid these tariffs. The situation remains fluid, with different timetables for implementation and potential responses from other nations that could significantly influence the trade landscape.
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