Initial policy plans include new tariffs on mainland China, delayed action against Canada and Mexico, a proposed reciprocal tariff system, a wide range of investigations, and the potential for other early, large-scale duties.
Key findings include:
- Tariffs will slow global economic growth, while damaging supply chain relationships between the US and other countries or regions, most notably with mainland China, Mexico and Canada.
- The Trump administration has taken early action, including new tariffs on imports from mainland China, additional duties on steel and aluminum, delayed actions against Canada and Mexico and proposals for a reciprocal tariff policy. A series of reviews is being carried out by the Departments of Commerce and Treasury as well as the USTR through early April.
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