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After holding the global economy in thrall, issuing erratic tariff threats and undercutting decades-old alliances, US President Donald Trump has imposed tit-for-tat reciprocal import tariffs of at least 10 per cent on broad swathes of the planet. Trump’s policy, announced on April 2, 2025, combines universal tariffs on all trading partners with additional, tailored levies for specific countries. Among the targets are nations traditionally considered Washington’s allies. Some countries have responded to the levies, including China, which has vowed to retaliate against the 34 per cent tariffs imposed on its products.
