Trump’s Tariff Shock: This Is Just the Beginning

First Reactions

Date:

CC-BY-SA-2.0, Flickr

Authors: Magdalena Martínez Vial , Antonio Sandoval , Guadalupe Barriviera , Pedro Pligher y Javiera Donoso

For Mexico and Canada, the worst-case scenarios did not materialize: the list of so-called “reciprocal” tariffs did not include the United States' two USMCA trade partners

What does the universal tariff mean? For now, institutions like Barclays have provided average estimates and believe the new framework effectively amounts to a 20% global tariff—“the most extreme scenario the market has considered so far.”

Brazil’s official protest: the measure “violates the United States’ commitments to the World Trade Organization and will affect all Brazilian goods exported to the U.S.”