Tariffs - Business Outrank

US President Donald Trump has introduced a new policy of reciprocal tariffs that may change the situation on the global market. The measure, implemented on February 13, 2025, is designed to equal the tariffs that other countries keep on the exports from the United States. The concept of reciprocal tariffs is to achieve the balance of trade. In Donald Trump's opinion, some of his trade partners impose more tariffs on the goods produced in the United States, which leads to an advantage for their industries and the damage of the American manufacturers. It isn’t the first time this concept has been brought forward — the same was proposed by the first administration of Donald Trump. The new Commerce Secretary, Howie Lutnick, pointed out that the plans for these tariffs could be worked out by April. Not all tariffs will be the same. Instead, they will be country-specific, product-specific, industry-specific or even tariff rate-specific for countries importing goods from the US. In order to level the playing field the US seeks to address issues like unfair VATs, currency manipulation, and weak IP protection. However, the move carries risks. Import duties may increase the prices of goods in the United States, decrease the rate of economic growth in other countries and lead to higher inflation rates. India, Argentina and many other emerging markets, as well as some countries in Africa and Southeast Asia that are heavily reliant on exports to the US, will likely be the most affected. However, the tariffs may be able to be lowered in some cases in order to improve trade relations and the effects of the measure are yet to be determined and world markets are eagerly awaiting.

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