Since returning to office, US President Donald Trump has launched a wave of tariffs and trade threats, targeting key partners and industries.

His proposals range from broad universal levies to country-specific and sector-focused duties.

Broad Tariffs

Trump aims to implement a phased universal tariff on all US imports. Treasury Secretary Scott Bessent has suggested starting at 2.5%, increasing monthly.

Economists warn this could drive inflation as businesses pass costs to consumers. Trump has also floated “reciprocal” tariffs on nations taxing US goods, raising fears of global countermeasures and a potential trade war.

Country-specific measures

• Mexico & Canada: Trump announced 25% tariffs over migration and drug trafficking concerns but postponed them until March 1 for negotiations.
• China: A 10% tariff has been imposed, prompting China to retaliate.
• Europe: The EU faces possible tariffs unless it increases US oil and gas purchases.
• Russia: Trump threatened tariffs and sanctions if the Ukraine war continues.
• India & BRICS: He warned of tariffs unless BRICS nations abandon plans for a new currency.
• Colombia: A 25% tariff threat led to a migrant deal with the US.

Targeted Products

• Metals: Duties on steel and aluminum could disrupt the auto and construction industries.
• Semiconductors: Trump wants tariffs on Taiwan-made chips, crucial for US tech firms.
• Pharmaceuticals: Previously tariff-free, medicines may now face levies.
• Automobiles: Trump has proposed 100% tariffs on imported vehicles, including EVs.

These sweeping measures have unsettled global markets, with businesses and governments bracing for economic fallout.