In a significant development for the global markets, former President Trump is poised to unveil a new tariff strategy, with an announcement scheduled for Wednesday at 3:00 AM Beijing time. Sources suggest a potential structure that may implement either a tiered tariff system ranging from 10% to 20% or a standard 20% uniform tariff applicable globally. The White House has yet to provide definitive details, although Trump has indicated that a decision has been reached regarding the implementation method.
This forthcoming announcement intensifies the ongoing uncertainty surrounding tariffs on key trade partners including China, Canada, and Mexico, raising critical questions about international trade relations. Trump’s ambition to bolster annual revenue by an estimated $700 billion through these tariffs comes amid rising concerns regarding potential economic repercussions, including inflationary pressures and the risk of a looming recession.