🔄 What changed with Trump's tariffs

• On November 14, 2025, Trump signed an executive order that partially reversed his global tariff package of 2025 — particularly eliminating the 10% surcharge he had imposed on imports such as coffee, fruits, avocado, among others.

• In parallel, that global protectionist strategy that had unleashed a strong wave of tensions and volatility — known as "Liberation Day tariffs" — is now being legally challenged: federal courts declared that the use of emergency law to impose those levies exceeds executive authority.

• This has given "oxygen" to affected sectors such as the agro-exportation of Latin American countries (e.g., coffee, fruits, cocoa).

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🌍 What does this shift imply: for markets, global economy, and trade?

• Tariff policy is no longer so predictable: what seemed like a permanent hardening has turned into a seesaw — creating uncertainty for exporters, importers, and financial markets.

• Some essential products are no longer taxed, which could lower import costs and alleviate inflationary pressures in the U.S. and in economies that export food or agricultural goods.

• But the threat of some tariffs returning or being modified remains: the legal framework is still disputed in courts, keeping trade and financial uncertainty alive.

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⚠️ What to observe in the coming months

• The judicial outcome of the tariff package — whether it is declared illegal or upheld — could redefine the course of global trade.

• New bilateral negotiations or trade agreements could emerge as an alternative to radical protectionism — something that already seems partial after this reversal.

• Importing/exporting companies must prepare for more "turns" in policy, with flexible strategies in the face of possible abrupt changes in tariffs.