"The trade policy of U.S. President Donald Trump has upended the commercial relationships that countries spent decades building through layers of diplomacy. The so-called reciprocal tariffs that Trump imposed broadly on the famous April 2 of this year are still evolving. The crude chart he presented to the world on the day the president dubbed Liberation Day became obsolete within just a few months. The White House is constantly shifting its trade policy, making changes that are leaving traders stunned."
"The effective tariff rate implied by policy has fluctuated substantially this year, starting at 2.4% in early January and peaking at about 28% in the wake of the April 9 and 13 announcements, notes the Yale University Budget Laboratory, which closely tracks import taxes. On April 2, Trump imposed a universal minimum tariff of 10% on all imports and hit his traditional trading partners harder. For the European Union, for example, he imposed an additional 20% tariff."
Global trade costs have risen and exchanges are becoming more expensive as shifting U.S. tariff policy alters long-standing commercial relationships. Reciprocal tariffs imposed on April 2 and subsequent announcements produced extreme volatility, forcing companies and merchants to adapt to frequent changes. The effective tariff rate considered rose from about 2.4% in January to roughly 28% after April 9 and 13 announcements, and a universal 10% minimum on imports plus additional levies hit traditional partners such as the EU. The White House has since adjusted rates, easing some food-product tariffs, while a roughly 15% rate is emerging as a practical benchmark that alters competitiveness between countries.
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