S President Trump and his administration’s leaders are considering a de-escalation of the trade dispute with China—potentially slashing tariffs, per several reports. “No one thinks the current status quo is sustainable,” said US Treasury Secretary Scott Bessent as quoted by CNBC. Despite this consolation, tariffs between the two largest economies on Earth equate to a mutual embargo. All other US trading partners are subject to the 10% tariff “floor.” Uncertainty lingers across commodities markets as reciprocal tariffs are paused till July and trade negotiations with leaders from around the world are ongoing. Initially, there was a mad dash to trade, as no one was sure what would be on the other side of the 90-day pause. However, that ship has sailed (quite literally) for some products with longer ocean transit routes. While the situation is market and region dependent, many industry participants are opting for a “wait and see” approach by sourcing exactly the products they need for the time being. The Trump administration is investigating imports of commodities like copper, timber, lumber, pharmaceuticals, and technology like semiconductors for potential industryspecific tariffs. And US 25% tariffs still exist for steel and aluminum imports, for automobiles, and for countries buying oil from Venezuela.
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Tariff Talks: Expana’s Weekly Rundown, April 25, 2025
Source: Expana
