The U.S. has begun negotiations with several nations that on April 9 were granted a 90-day reprieve from high reciprocal tariffs, according to the White House. Baseline tariffs of 10% on goods from most U.S. trade partners remain in place, as do 145% duties on imports from China.
“President Trump’s sweeping tariff announcements in early April have caused a material shift in the global economic and financial outlook,” the EY report said. READ MORE