Global Trade Impact of Tariffs

The new tariffs imposed by the U.S. under President Trump have significant repercussions for global trade, affecting countries across continents. Notably, China faces a staggering 34% tariff, building on previous measures, leading to strong condemnation and threats of retaliation from the Chinese government. Other countries like Myanmar and Laos suffer severely high tariffs of 44% and 48%, respectively, impacting their fragile economies that are already dealing with humanitarian crises. This shift in economic policy is expected to alter trade patterns and potentially harm employment in industries reliant on exports to the U.S.