Trump’s Tariff Tightrope: Balancing Trade, Reciprocity, and Recession Risks

αžŸαž αžšαžŠαŸ’αž‹αž’αžΆαž˜αŸαžšαž·αž€ 

αžŸαž“αŸ’αž‘αžŸαŸ’αžŸαž“αŸαž‘αŸ†αž“αž»αž€αž…αž·αžαŸ’αžαž’αŸ’αž“αž€αž”αŸ’αžšαžΎαž”αŸ’αžšαžΆαžŸαŸ‹αž’αžΆαž˜αŸαžšαž·αž€αž”αžΆαž“αž”αž“αŸ’αžαž’αŸ’αž›αžΆαž€αŸ‹αž…αž»αŸ‡αž˜αž€αžŠαž›αŸ‹αž€αž˜αŸ’αžšαž·αž 92.9 αž‘αžΆαž”αž‡αžΆαž„αž‘αž·αž“αŸ’αž“αž“αŸαž™αž–αŸ’αž™αžΆαž€αžšαžŽαŸ αž αžΎαž™αž“αŸ„αŸ‡αž”αž„αŸ’αž αžΆαž‰αž–αžΈαž›αž‘αŸ’αž’αž—αžΆαž–αž€αžΆαž“αŸ‹αžαŸ‚αž…αŸ’αžšαžΎαž“αžŠαŸ‚αž›αžŸαŸαžŠαŸ’αž‹αž€αž·αž…αŸ’αž…αž’αžΆαž˜αŸαžšαž·αž€αž’αžΆαž…αž“αžΉαž„αž‘αž“αŸ‹αžαŸ’αžŸαŸ„αž™αž‡αžΆαž„αž˜αž»αž“αž”αŸ’αžšαžŸαž·αž“αž”αžΎαž€αžΆαžšαž’αŸ’αž›αžΆαž€αŸ‹αž…αž»αŸ‡αž“αŸƒαž‘αŸ†αž“αž»αž€αž…αž·αžαŸ’αžαž“αŸαŸ‡ αž“αŸ…αžαŸ‚αž”αž“αŸ’αžαž”αž“αŸ’αž‘αžΆαž”αžαž˜αŸ’αžšαžΌαžœαž€αžΆαžšαž”αŸ’αžšαžΎαž”αŸ’αžšαžΆαžŸαŸ‹αŸ” αž‡αžΆαž€αŸ‹αžŸαŸ’αžαŸ‚αž„ αž€αŸ’αžšαž»αž˜αž αŸŠαž»αž“ Goldman Sachs αž€αŸαž”αžΆαž“αž›αžΎαž€αž‘αžΎαž„αž–αžΈαž›αž‘αŸ’αž’αž—αžΆαž–αž€αžΆαž“αŸ‹αžαŸ‚αž…αŸ’αžšαžΎαž“αžŠαŸ‚αž›αžŸαŸαžŠαŸ’αž‹αž€αž·αž…αŸ’αž…αž’αžΆαž…αž’αŸ’αž›αžΆαž€αŸ‹αž…αžΌαž›αžœαž·αž”αžαŸ’αžαž·αžŸαŸαžŠαŸ’αž‹αž€αž·αž…αŸ’αž…αŸ” αžŠαžΌαž…αŸ’αž“αŸαŸ‡αž”αŸ’αžšαžŸαž·αž“αž”αžΎαž—αžΆαž–αž˜αž·αž“αž…αŸ’αž”αžΆαžŸαŸ‹αž›αžΆαžŸαŸ‹αž“αŸ…αžαŸ‚αž”αž“αŸ’αžαž˜αžΆαž“ αž“αŸ„αŸ‡αžœαž·αž”αžαŸ’αžαž·αžŸαŸαžŠαŸ’αž‹αž€αž·αž…αŸ’αž…αž’αžΆαž…αž“αžΉαž„αž€αžΎαžαž˜αžΆαž“αž€αžΆαž“αŸ‹αžαŸ‚αž…αŸ’αžšαžΎαž“αŸ” 

αž›αŸ„αž€αž”αŸ’αžšαž’αžΆαž“αžΆαž’αž·αž”αžαžΈ Donald Trump

αž‚αž·αžαžαŸ’αžšαžΉαž˜αžαŸ’αž„αŸƒαž“αŸαŸ‡ αž›αŸ„αž€αž”αŸ’αžšαž’αžΆαž“αžΆαž’αž·αž”αžαžΈ Donald Trump αž˜αž·αž“αž‘αžΆαž“αŸ‹αž…αŸαž‰αžœαž·αž’αžΆαž“αž€αžΆαžšαž…αŸ’αž”αžΆαžŸαŸ‹αž›αžΆαžŸαŸ‹αžŽαžΆαž˜αž½αž™αž‘αŸ…αž›αžΎαž€αžΆαžšαž•αŸ’αž›αžΆαžŸαŸ‹αž”αŸ’αžαžΌαžšαž‚αŸ„αž›αž“αž™αŸ„αž”αžΆαž™αž–αž“αŸ’αž’αž“αŸ„αŸ‡αž‘αžΎαž™αŸ” αž–αŸ„αž›αž‚αžΊ αžšαžΌαž”αž›αŸ„αž€αž‚αŸ’αžšαžΆαž“αŸ‹αžαŸ‚αž›αžΎαž€αž‘αžΎαž„αžαžΆαž€αžΆαžšαžŠαžΆαž€αŸ‹αž–αž“αŸ’αž’αžαŸ’αžšαž‘αž”αŸ‹αž‘αŸ…αžœαž·αž‰αž’αžΆαž…αž“αžΉαž„αž˜αžΆαž“αž€αž˜αŸ’αžšαž·αžαž’αžΌαžšαžŸαŸ’αžšαžΆαž›αž‡αžΆαž„αž˜αž»αž“αžαŸ‚αž”αŸ‰αž»αžŽαŸ’αžŽαŸ„αŸ‡ αžŠαŸ‚αž›αž”αžΆαž“αž”αž„αŸ’αž αžΆαž‰αž–αžΈαž—αžΆαž–αž”αžαŸ‹αž”αŸ‚αž“αžšαž”αžŸαŸ‹αž›αŸ„αž€αž›αžΎαž•αŸ‚αž“αž€αžΆαžšαž–αž“αŸ’αž’ αž αžΎαž™αž“αŸαŸ‡αž€αŸαž”αžΆαž“αž•αŸ’αžαž›αŸ‹αž“αžΌαžœαž‘αžŸαŸ’αžŸαž“αžœαž·αžŸαŸαž™αžœαž·αž‡αŸ’αž‡αž˜αžΆαž“αž˜αž½αž™αž…αŸ†αž“αž½αž“αž‘αŸ…αž€αžΆαž“αŸ‹αž”αŸ’αžšαž‘αŸαžŸαž˜αž»αž·αž€αžŸαž»αž·αž€ αž“αž·αž„αž€αžΆαžŽαžΆαžŠαžΆαŸ” αž›αžΎαž€β€‹αž›αŸ‚αž„β€‹αžαŸ‚β€‹αžŸαž αž—αžΆαž–β€‹αž’αžΊαžšαŸ‰αž»αž”αžαŸ‚αž”αŸ‰αž»αžŽαŸ’αžŽαŸ„αŸ‡ β€‹αžŠαŸ‚αž›β€‹αž‘αŸ†αž“αžΆαž€αŸ‹β€‹αž‘αŸ†αž“αž„αž”αŸ’αžšαž‘αŸαžŸαž‘αžΆαŸ†αž„αž–αžΈαžšβ€‹αž“αŸ…β€‹αž˜αž·αž“β€‹αž‘αžΆαž“αŸ‹β€‹αž˜αžΆαž“β€‹αž—αžΆαž–β€‹αž”αŸ’αžšαžŸαžΎαžšβ€‹αž‘αžΎαž„β€‹αž“αŸ…β€‹αž‘αžΎαž™β€‹αž‘αŸαŸ” 

αž€αžΆαžšαžαžΆαž˜αžŠαžΆαž“αž”αž“αŸ’αžαŸ‚αž˜αž‘αŸ€αžαŸ–

Trump αž”αžΆαž“αž“αž·αž™αžΆαž™αžαžΆαž˜αžΆαž“ “αžŸαŸαž…αž€αŸ’αžαžΈαž”αŸ’αžšαž€αžΆαžŸαž–αžΆαžŽαž·αž‡αŸ’αž‡αž€αž˜αŸ’αž˜αž“αžΉαž„αž˜αž€αžŠαž›αŸ‹αž“αŸ…αžαŸ’αž„αŸƒαžŸαŸ’αž’αŸ‚αž€” αž–αŸ’αžšαž˜αž‘αžΆαŸ†αž„αž›αžΎαž€αž‘αžΎαž„αž–αžΈαž•αŸ‚αž“αž€αžΆαžšαžŸαŸ’αžαžΈαž–αžΈαž–αž“αŸ’αž’αž“αžΆαŸ†αž…αžΌαž›αž‘αž„αŸ‹αžŠαŸ‚αž„αž€αŸ’αž“αž»αž„αžšαž™αŸˆαž–αŸαž›αž”αŸ‰αž»αž“αŸ’αž˜αžΆαž“αžŸαž”αŸ’αžαžΆαž αŸαž•αž„αžŠαŸ‚αžšαŸ”

αž’αŸŠαž»αž™αž€αŸ’αžšαŸ‚αž“ αž“αž·αž„αžšαž»αžŸαŸ’αžŸαŸŠαžΈ 

αž‘αŸ„αŸ‡αž”αžΈαž‡αžΆαž˜αžΆαž“αž€αž·αž…αŸ’αž…αž–αŸ’αžšαž˜αž–αŸ’αžšαŸ€αž„αžŸαŸ’αžαžΈαž–αžΈαž”αž‘αžˆαž”αŸ‹αž”αžΆαž‰αŸ‹αž›αžΎαž€αžΆαžšαžœαžΆαž™αž”αŸ’αžšαž αžΆαžšαž αŸαžŠαŸ’αž‹αžΆαžšαž…αž“αžΆαžŸαž˜αŸ’αž–αŸαž“αŸ’αž’αžαžΆαž˜αž–αž› αž“αž·αž„αžŸαž˜αž»αž‘αŸ’αžšαžαŸ’αž˜αŸ…αžšαžœαžΆαž„αž’αŸŠαž»αž™αž€αŸ’αžšαŸ‚αž“ αž“αž·αž„αžšαž»αžŸαŸ’αžŸαŸŠαžΈαž€αŸαžŠαŸ„αž™ αž€αŸαž˜αž·αž“αž‘αžΆαž“αŸ‹αž˜αžΆαž“αž–αŸαžαŸŒαž˜αžΆαž“αž›αž˜αŸ’αž’αž·αžαžŽαžΆαž˜αž½αž™αžŠαŸ‚αž›αž”αžΆαž“αž•αŸ’αžαž›αŸ‹αž“αžΌαžœαžαŸ’αž„αŸƒαž‡αžΆαž€αŸ‹αž›αžΆαž€αŸ‹ αž¬αžšαž”αŸ€αž”αžŠαŸ‚αž›αžœαžΆαž“αžΉαž„αžαŸ’αžšαžΌαžœαž”αžΆαž“αž’αž“αž»αžœαžαŸ’αžαž“αŸ„αŸ‡αž‘αŸαŸ” αž”αŸ‰αž»αž“αŸ’αžαŸ‚αžšαžΏαž„αž˜αž½αž™αžŠαŸ‚αž›αž”αŸ’αžšαžΆαž€αžŠαž“αŸ„αŸ‡αž‚αžΊαžαžΆ αž”αŸ’αžšαž’αžΆαž“αžΆαž’αž·αž”αžαžΈαž’αŸŠαž»αž™αž€αŸ’αžšαŸ‚αž“ Zelenskiy αž“αžΉαž„ “αž”αŸ’αžαžΉαž„αž‘αŸ…αžŸαž αžšαžŠαŸ’αž‹αž’αžΆαž˜αŸαžšαž·αž€αžŠαŸ„αž™αž•αŸ’αž‘αžΆαž›αŸ‹” αž”αŸ’αžšαžŸαž·αž“αž”αžΎαžšαž»αžŸαŸ’αžŸαžΈαž”αž“αŸ’αžαž€αžΆαžšαžœαžΆαž™αž”αŸ’αžšαž αžΆαžšαž˜αž€αž€αžΆαž“αŸ‹αž”αŸ’αžšαž‘αŸαžŸαžαŸ’αž›αž½αž“αŸ” αž‘αŸ„αŸ‡αž”αžΈαž‡αžΆαž™αŸ‰αžΆαž„αžŽαžΆαž€αŸαžŠαŸ„αž™ αž“αŸαŸ‡αž’αžΆαž…αž‡αžΆαž‡αŸ†αž αžΆαž“αž”αž“αŸ’αž‘αžΆαž”αŸ‹αž†αŸ’αž–αŸ„αŸ‡αž‘αŸ…αžšαž€αž€αžΆαžšαž”αž‰αŸ’αž…αž”αŸ‹αžŸαž„αŸ’αž‚αŸ’αžšαžΆαž˜αžšαž»αžŸαŸ’αžŸαŸŠαžΈ-αž’αŸŠαž»αž™αž€αŸ’αžšαŸ‚αž“αŸ” 

αž€αžΆαžšβ€‹αž“αžΆαŸ†β€‹αž…αžΌαž›β€‹αž”αŸ’αžšαŸαž„β€‹αžšαž”αžŸαŸ‹β€‹αžœαŸαžŽαŸαžŸαŸŠαž»αž™αž’αŸαž‘αžΆ

αž”αž“αŸ’αž‘αžΆαž”αŸ‹αž–αžΈαž”αŸ’αžšαž’αžΆαž“αžΆαž’αž·αž”αžαžΈ Trump αž”αžΆαž“αž”αŸ’αžšαž€αžΆαžŸαž–αž“αŸ’αž’αž›αžΎαž”αŸ’αžšαž‘αŸαžŸαžŠαŸ‚αž›αž“αžΆαŸ†αž…αžΌαž›αž”αŸ’αžšαŸαž„ αž“αž·αž„αž§αžŸαŸ’αž˜αŸαž“ αžšαž”αžŸαŸ‹αž”αŸ’αžšαž‘αŸαžŸ Venezuelan αžŠαŸ‚αž›αž“αžΉαž„αž…αžΌαž›αž‡αžΆαž’αžšαž˜αžΆαž“αŸ…αžαŸ’αž„αŸƒαž‘αžΈ 2 αžαŸ‚αž˜αŸαžŸαžΆαžšαž½αž…αž˜αž€ αž€αŸ’αžšαžŸαž½αž„αž€αžΆαžšαž”αžšαž‘αŸαžŸαž…αž·αž“αž”αžΆαž“αž”αŸ’αžšαž†αžΆαŸ†αž„αž™αŸ‰αžΆαž„αž˜αŸ‰αžΊαž„αž˜αŸ‰αžΆαžαŸ‹αž…αŸ†αž–αŸ„αŸ‡αžšαžΏαž„αž“αŸαŸ‡ αž–αŸ’αžšαŸ„αŸ‡αžœαžΆαž“αžΉαž„αž”αž“αŸ’αžαŸ‚αž˜αžŸαž˜αŸ’αž–αžΆαž’αž€αžΆαž“αŸ‹αžαŸ‚αž…αŸ’αžšαžΎαž“αž›αžΎαž€αžΆαžšαž…αŸ†αžŽαžΆαž™αž’αžΆαž‡αžΈαžœαž€αž˜αŸ’αž˜αžšαž”αžŸαŸ‹αž…αž·αž“(αžαž˜αŸ’αž›αŸƒαž‘αžΎαž„αžαŸ’αž›αŸƒ) αž“αž·αž„αž’αžΆαž…αžšαŸ†αžαžΆαž“αžŠαž›αŸ‹αž›αž‘αŸ’αž’αž—αžΆαž–αž€αŸ’αž“αž»αž„αž€αžΆαžšαž‘αž‘αž½αž›αž”αžΆαž“αž”αŸ’αžšαŸαž„αž†αŸ…αž–αžΈαž”αŸ’αžšαž‘αŸαžŸ Venezuelan αžŠαŸ‚αž›αž˜αžΆαž“αžαž˜αŸ’αž›αŸƒαžŸαž˜αžšαž˜αŸ’αž™αŸ” αž‡αžΆαž–αž·αžŸαŸαžŸαž“αŸ…αž–αŸαž›αžŠαŸ‚αž›αž”αŸ’αžšαž‘αŸαžŸαž…αž·αž“αž‡αžΆαž’αŸ’αž“αž€αž‘αž·αž‰αžŠαŸαž’αŸ†αž”αŸ†αž•αž»αžαž“αŸƒαž”αŸ’αžšαŸαž„ Venezuelan αžŠαžΌαž…αŸ’αž“αŸαŸ‡αž€αžΆαžšαžŠαžΆαž€αŸ‹αž–αž“αŸ’αž’αž›αžΎαž“αŸαŸ‡αž“αžΉαž„αž“αžΆαŸ†αž±αŸ’αž™αž˜αžΆαž“αž€αžΆαžšαž’αŸ’αž›αžΆαž€αŸ‹αž…αž»αŸ‡αžŸαŸαžŠαŸ’αž‹αž€αž·αž…αŸ’αž…αž‘αžΆαŸ†αž„αž–αžΈαžšαž€αžΆαž“αŸ‹αžαŸ‚αž…αŸ’αžšαžΎαž“αŸ”

|English Version|

The United States 

US consumer confidence continues to decline to 92.9, lower than the initial expected reading, and that suggests a potential for weaker economic growth if soft confidence remains dragging on demand consumption. In fact, Goldman Sachs also brought out the possibility of having more recession risk. So, having a prolonged uncertainty in trade tension would also dig itself further into the recession scenario.Β 

Trump 

As of today’s date, there is no firm policy shift from President Donald Trump yet aside from his soft tone toward his β€œreciprocal tariff” approach and that suggests his flexibility on Trump’s tariff plans. Saying that, β€œI will likely be more lenient than reciprocal,” giving a potential break on some, particularly to Mexico and Canada, as he also expressed positivity on their recent approaches. Except for the EU, where the relationship still has not gotten any better yet. 

Forward Looking: 

  1. Trump mentioned having a β€œbusiness announcement coming tomorrow” and the plan on copper import tariffs within weeks. 

Ukraine and Russia 

Despite an agreement on a ceasefire between Ukraine and Russia that has been made on energy infrastructure attacks and the Black Sea, no further details were given on the exact date or how it would be implemented. But one thing for sure is that Ukraine’s President Zelenskiy would β€œappeal to the US directly” by seeking more weapons from them if Russia broke the ceasefire. Regardless, this could represent another step toward the end of the Russia-Ukraine war. 

Venezuelan oil imports

After President Trump announced tariffs on nations importing Venezuelan oil and gas, effective on April 2, the Chinese foreign ministry has firmly opposed this, as this will add to more pressures on Chinese businesses’ costs and potentially disrupt their access to affordable Venezuelan crude. Especially when China is the largest buyer of Venezuelan oil, importing significant volumes, so imposing a tariff on this would lead to more economic downturn for both economies.

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