Podcast
Even before taking office on November 5, 2024, Donald Trump championed tariffs as a primary tool to 'Make America Great Again'. This approach, based on the notion that public sectors could be financed by tariffs paid by foreigners rather than domestic taxes, signaled a looming EU-US Trade and Tariff War Impact. Many observers were initially skeptical, but the threats materialized swiftly after he assumed office.
By March 2025, a 20% tariff was imposed on China. Despite the free trade area under USMCA, Mexico and Canada faced 25% tariffs, later with a carve-out for compliant goods. Additionally, a 25% tariff was levied on steel and aluminum exports from all countries, followed by one on beer and beer cans. On March 27, a 25% tariff on all car and car part imports to the US was announced. The rhetoric escalated, culminating in the introduction of
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