๐ฐ Trumpโs Tariff Policy โ Todayโs Key Highlights
๐ฎ๐ณ US-India Trade Tensions
PM Modi spoke with President $TRUMP regarding bilateral issues after tariffs on Indian imports doubled (~50%), affecting textiles and chemicals. Talks were positive, but trade friction remains.
๐ฐ Impact on U.S. Economy
Fed Chair Jerome Powell highlighted that tariffs are a major driver of recent inflation, citing import costs rather than structural inflation.
๐ฌ๐ง UK-US Trade Deal Update
The UK reached a deal linked to Trumpโs tariff regime, pledging increased NHS medicine spending to avoid punitive U.S. pharma tariffs.
๐ Household Costs
U.S. lawmakers report that tariff hikes have cost the average American household ~$1,200 this year โ the highest since the 1930s.
๐จ๐ญ Switzerland Tariff Adjustment
Swiss exports see duties cut from 39% โ 15%, retroactive to mid-November, easing pressure on Swiss firms.
๐ Trade Impact
U.S. tariff policy continues to reshape trade flows, with the trade deficit hitting its lowest level since 2020 as imports adjust.
๐ Ongoing Updates
Negotiations and disputes continue worldwide, with Mexico and other partners adjusting policies in response to U.S. tariffs.
