- Return to the White House: President-elect Trump is set to return to the White House on January 20, 2025, with plans to implement a broad tariff agenda, particularly targeting Chinese goods and imposing universal tariffs on global imports.
- Impact on Global Trade: The proposed tariffs threaten to disrupt global trade, especially affecting sectors such as automotive, pharmaceuticals, steel, and electronics, leading to increased costs and supply chain disruptions for businesses relying on imports.
- Legal Framework for Tariffs: Trump is expected to utilize existing U.S. trade laws, including the Trade Expansion Act and the Trade Act, to impose tariffs quickly, potentially facing minimal legal challenges due to broad presidential powers.
- International Reactions: The anticipated tariffs may lead to unilateral retaliatory measures from affected countries, similar to past responses during Trump’s first term, raising the risk of a trade war and further market instability.
- Preparation for Businesses: Companies operating globally should reassess their risk exposure to the planned tariff agenda, monitor developments closely, and prepare for potential changes in trade agreements or new regulations that could impact their operations and supply chains.
Source Ashurst.com
