Picture This: US Tariff Actions Create Trade Wall

On April 9, US President Donald Trump announced:

• Suspension of reciprocal tariffs (excluding mainland China) for 90 days.
• Expansion of general tariffs on mainland China to 145%.
• Higher tariffs on autos, steel and aluminum* as well as duties on Canada and Mexico, and a flat 10% US tariff, will remain in place.
• Plan to implement new tariffs soon, notably on the pharmaceutical sector but also semiconductors.

Why this matters

The direction, magnitude and predictability of the US trade policy outlook would have substantial and long-lasting impact on the trajectory of global economic growth, trade patterns and the geopolitical landscape.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.