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Thu, 02 Apr 2026

Thu, 02 Apr 2026 A year on: Four ways Trump's tariffs have changed the global economy

US tariffs stand at the highest rate in decades. But what has the impact been?

* Tariff rates in the US have risen significantly, from around 2.5% at the start of last year to roughly 10% now, with some countries facing tariffs as high as over 100%.
* The value of US imports from China plummeted by around 30% last year, while shipments from the US to China fell by more than 25%, suggesting a significant decoupling between the two economies.
* Other countries have begun to look beyond the US for buyers, with some nations like Vietnam and Mexico seeing increased exports as a result of the trade war.
* While global trade has held up relatively well, some experts warn that the damage from the trade war could spread if other countries begin to retaliate against the US in new ways.