Trumpβs Tariff Tightrope: Balancing Trade, Reciprocity, and Recession Risks
αα ααααα’αΆαααα·α
ααααααααααααα»αα α·αααα’αααααααΎααααΆααα’αΆαααα·αααΆαααααααααΆααα α»ααααααααααα·α 92.9 ααΆαααΆααα·ααααααααααΆαααα α αΎαααααααα αΆαααΈααααααΆαααΆααααα αααΎααααααααααα·α αα α’αΆαααα·αα’αΆα ααΉαααααααααααΆααα»αααααα·αααΎααΆαααααΆααα α»ααααααα»αα α·αααααα αα αααααααααααΆααααααΌαααΆαααααΎααααΆααα ααΆααααααα αααα»αα αα»α Goldman Sachs ααααΆαααΎαα‘αΎαααΈααααααΆαααΆααααα αααΎααααααααααα·α αα α’αΆα ααααΆααα αΌααα·ααααα·ααααααα·α αα α ααΌα ααααααααα·αααΎααΆααα·αα αααΆααααΆαααα ααααααααΆα ααααα·ααααα·ααααααα·α αα α’αΆα ααΉαααΎαααΆαααΆααααα αααΎαα
ααααααααΆααΆαα·αααΈ Donald Trump

αα·αααααΉαααααααα ααααααααΆααΆαα·αααΈ Donald Trump αα·αααΆααα αααα·ααΆαααΆαα αααΆααααΆααααΆαα½ααα ααΎααΆαααααΆααααααΌαααααααααΆααααααααα‘αΎαα αααααΊ ααΌααααααααΆααααααΎαα‘αΎαααΆααΆαααΆαααααααααα‘αααα αα·αα’αΆα ααΉαααΆαααααα·αααΌαααααΆαααΆααα»αααααα»ααααα αααααΆααααα αΆαααΈααΆααααααααααααααααΎαααααΆααααα α αΎααααααααΆααααααααΌαααααααα·ααααα·αααααΆααα½αα ααα½ααα ααΆαααααααααα»α·ααα»α·α αα·αααΆααΆααΆα ααΎαβαααβααβαα ααΆαβα’αΊααα»αααααα»ααααα βαααβααααΆααβααααααααααααΆααααΈαβαα βαα·αβααΆααβααΆαβααΆαβαααααΎαβα‘αΎαβαα βα‘αΎαβααα
ααΆαααΆαααΆααααααααααα
Trump ααΆααα·ααΆαααΆααΆα “ααα ααααΈαααααΆαααΆαα·αααααααααΉαααααααα ααααααα’αα” ααααααΆααααΎαα‘αΎαααΈαααααΆαααααΈααΈααααααΆαα αΌααααααααααα»αααααααααα»ααααΆααααααΆα ααααααα
α’αα»αααααα αα·ααα»αααααΈ

αααααΈααΆααΆααα·α αα αααααααααααααΈααΈαααααααΆααααΎααΆαααΆααααα αΆαα αααααΆαα ααΆααααααααααΆααα αα·αααα»ααααααα αααΆαα’αα»αααααα αα·ααα»αααααΈααααα αααα·αααΆααααΆαααααααΆααααα’α·αααΆαα½ααααααΆααααααααΌαααααααΆααααΆαα α¬αααααααααΆααΉαααααΌαααΆαα’αα»αααααααααα ααα»ααααααΏααα½ααααααααΆαααααααΊααΆ αααααΆααΆαα·αααΈα’αα»αααααα Zelenskiy ααΉα “ααααΉααα αα ααααα’αΆαααα·ααααααααΆαα” ααααα·αααΎαα»ααααΈααααααΆαααΆααααα αΆαααααΆαααααααααααα½αα αααααΈααΆαααΆαααΆααααα αααα’αΆα ααΆααα αΆααααααΆααααααααα ααααΆααααα αααααααααΆααα»αααααΈ-α’αα»ααααααα
ααΆαβααΆαβα αΌαβαααααβααααβααααααα»αα’αα‘αΆ

αααααΆααααΈαααααΆααΆαα·αααΈ Trump ααΆααααααΆαααααααΎαααααααααααΆαα αΌαααααα αα·αα§ααααα αααααααααα Venezuelan αααααΉαα αΌαααΆααααΆαα ααααααΈ 2 ααααααΆαα½α αα ααααα½αααΆααααααα α·αααΆααααααΆαααααΆααααΊααααΆααα ααααααΏαααα αααααααΆααΉααααααααααααΆαααΆααααα αααΎαααΎααΆαα αααΆαα’αΆααΈαααααααααα α·α(αααααα‘αΎααααα) αα·αα’αΆα ααααΆααααααααααΆααααα»αααΆαααα½αααΆαααααααα ααΈαααααα Venezuelan αααααΆααααααααααααα ααΆαα·ααααα ααααααααααααα α·αααΆα’ααααα·ααααααααα»αααααααα Venezuelan ααΌα ααααααΆαααΆααααααααΎαααααΉαααΆαα±ααααΆαααΆαααααΆααα α»αααααααα·α αα ααΆααααΈαααΆααααα αααΎαα
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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 βreciprocal tariffβ approach and that suggests his flexibility on Trumpβs tariff plans. Saying that, βI 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:
- Trump mentioned having a βbusiness announcement coming tomorrowβ 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 Ukraineβs President Zelenskiy would βappeal to the US directlyβ 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.