As Donald Trump starts his second term as U.S. President, his "America First" trade policies remain a priority. While no new tariffs were introduced immediately, his plans show a strong push to change global trade. Here are five key points of his trade agenda and their possible effects:

1. Tariffs: Delayed but Likely

Although there were no tariffs on "day one," Trump’s plan to set up an External Revenue Service for tariff collection shows that Trump tariffs explained are still a key part of his strategy. New taxes on imports from Canada and Mexico are possible, showing his willingness to use tariffs to make money and influence trade deals. This approach highlights the economic impact of tariffs, as businesses and consumers may face higher costs.

2. Canada and Mexico: Under Pressure

Trump has set February deadlines for possible tariffs on Canada and Mexico. These decisions are tied to his review of the USMCA trade deal and concerns over migration and fentanyl trafficking. These moves could disrupt trade in North America and raise questions about the future of regional agreements. The Trump tariffs timeline shows a clear effort to gain concessions from these key trading partners.

3. Focus on China

Trump’s team is taking a closer look at trade with China, investigating currency manipulation and trade agreements. Broad tariffs on Chinese goods are still an option, but there is also talk of negotiating new deals that benefit the U.S. This shows a shift in strategy to reshape ties with China. For traders and brokers, such as those using YaMarkets MetaTrader broker, these changes are important to monitor.

4. Tariffs with Multiple Goals

Trump is using tariffs not just to fix trade deficits but also to tackle other issues like energy exports and tech disputes. While this gives the U.S. more power in negotiations, it could lead to higher inflation, affecting economies both in the U.S. and worldwide. Knowing the economic impact of tariffs in these situations is key to understanding their risks.

5. Global Reactions

Trump’s team is trying to stop tariff evasion through countries like Vietnam and Mexico. While this could close loopholes, it may push other nations to create new trade deals. For example, the European Union has signed new agreements with South America and restarted talks with Malaysia. These changes could challenge the U.S.'s leading role in trade.

Conclusion

Trump’s trade policies aim to change U.S. trade practices by focusing on domestic needs and pressuring allies and partners. The Trump tariffs timeline shows a planned approach that could have global effects. For brokers and traders, such as those using platforms like YaMarkets Meta Trader broker, it’s important to follow these developments. Gold prices are likely to stay strong during policy uncertainties, and the U.S. dollar may rise further. Understanding Trump tariffs explained will help in navigating these changes in the economic landscape.