Donald Trump announced his most aggressive trade action yet: reciprocal tariffs on imports from America’s trading partners and a “minimum baseline tariff” of 10%. Imports will now face a weighted-average tariff rate of nearly 24%. Chinese products will be taxed at 34%; stacked on top of existing levies, this will bring the total tariff rate to about 65%. Canadian and Mexican goods that comply with the United States-Mexico-Canada free-trade agreement will be exempt from reciprocal tariffs, but other imposts could still harm the steel, aluminium and car industries.
Trump’s day-one priorities
Executive orders in first hundred days
In less than a month, Donald Trump signed more executive orders than Joe Biden issued during his first 100 days. The flurry of edicts, on everything from border security, to energy policy, to starting (and ending) trade wars, has unleashed a chaotic burst of activity as his subordinates try to implement his orders. Opponents have already begun to file lawsuits in the hope of stopping some from going into effect.
Sources: The Federal Registry; The Economist
