Tariffs: The 4 Ways They Changed Global Trade

One year after the imposition of tariffs by then-US President Donald Trump, global trade has undergone significant changes. US tariffs are at their highest level in decades, reaching approximately 10%.

1. Acceleration of the US-China rift: Tariffs led to a 30% decrease in US imports from China and a 25% decrease in US exports to China.

2. Shift of trading partners elsewhere: Many companies sought buyers outside the US, with countries such as Germany and France gaining ground.

3. Tensions with allies: Tariffs complicated US efforts to gather support on various issues.

4. Increase in US prices: Approximately 55% of the new charges were passed on to consumers, increasing inflation by about half a percentage point.

Despite the impact, the US economy grew by 2.1%, with the unemployment rate at 4.4%.