top of page
Search

MARKET UPDATE: Trump Tariffs


President Donald Trump’s 100 days in office has been entropic.


Trump’s sweeping tariffs on the global economy averaging a hefty 28% – the highest since 1901 (The Budget Lab at Yale, 2025) and soaring from a low 2.5% at the start of the year (Reddy, 2025) – have already prompted IMF’s new forecast of 2.8% global economic growth in 2025, down from a previous estimate of 3.3%. U.S. annual growth is also anticipated to drop, slashing one-third of January’s 2.7% estimate to an unambitious 1.8% (Clarke, 2025).

It was on April 2, a day President Trump coined “liberation day”, that higher tariffs on imports from 90 countries were announced and scheduled to take effect on April 9. However, these tariffs have since been suspended for 90 days for all countries except China. Countries that did not retaliate now face a blanket tariff of 10% until July (Picchi, 2025).


Key Tariffs:

  • 25% tariff on all steel and aluminium imports (effective March 12)

  • 25% tariff on all automobiles (effective April 3)

  • 25% tariff on car parts (effective May 3)

  • China - 145% tariff on imports (China retaliated with 125% tariffs on U.S. imports)

  • Australia - 10% tariff on imports

  • Mexico and Canada - 25% tariff on imports


As a result, U.S. consumers will soon face higher cost-of-living pressures, with economists at The Budget Lab at Yale University forecasting an initial expenditure increase of $4700 per American household (Reddy, 2025).


(as of 30 April 2025)






 
 
 

Comments

Women in Finance Logo
  • Instagram
  • Facebook
  • LinkedIn
bottom of page