The United States announced its most significant trade policy shift since NAFTA in 1994 when President Trump declared a national emergency on April 2, 2025, to address what he described as a “large and persistent U.S. trade deficit” through reciprocal tariffs. This sweeping policy imposes a 10% baseline tariff on all exports to the United States, with significantly higher duties on approximately 60 nations based on their trade imbalances with
