#TrumpTariffs Former President Donald Trump's administration has reintroduced a comprehensive tariff strategy aimed at revitalizing U.S. manufacturing and addressing trade imbalances. On April 2, 2025, dubbed "Liberation Day," Trump announced a two-tier tariff system: a universal 10% baseline tariff on all imports, excluding Canada and Mexico, and additional "reciprocal" tariffs targeting approximately 60 countries based on their trade practices. These measures commenced on April 5 and 9, respectively .

The administration emphasizes that these tariffs are designed to bolster domestic production, reduce the trade deficit, and create American jobs. U.S. Trade Representative Jamieson Greer highlighted that while the universal tariff remains, the U.S. is actively engaging with various countries to reduce additional tariffs through bilateral agreements, such as those with China, Britain, and Switzerland .

However, these policies have sparked significant global trade tensions. China responded with countermeasures, including tariffs up to 125% on U.S. goods and restrictions on U.S. companies. The European Union and Canada have also imposed retaliatory duties. In recent developments, the U.S. and China agreed to a temporary 90-day tariff suspension, reducing U.S. duties on Chinese goods to 10%, except for fentanyl-related tariffs, which remain at 20% .

Additionally, Trump has threatened to impose 100% tariffs on BRICS nations—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates—if they attempt to undermine the U.S. dollar by creating a new currency. This stance has raised concerns about escalating trade wars and destabilizing global trade flows .

Critics argue that while the tariffs aim to protect American industries, they may lead to higher consumer prices and strained international relations. Former U.S. Secretary of Labor Robert Reich contends that without strengthening unions and addressing structural economic issues,