Trump Administration Expands Tariffs Impacting US, China, Canada, India

In 2025, President Donald Trump has aggressively expanded tariffs under his America First Trade Policy, targeting countries including Canada, China, and the European Union, significantly reshaping global trade dynamics. These tariffs, such as the 35% on Canadian imports and proposed 15–20% on others, have triggered fears of stagflation and contributed to a surge in gold prices, with central banks worldwide increasing gold reserves as a hedge against economic uncertainty and the declining dominance of the U.S. dollar. Trump's trade actions have disrupted decades of economic diplomacy, eroding trust among allies and escalating economic coercion and supply chain fragmentation, while highlighting persistent U.S. trade deficits and concerns over unfair trade practices. Efforts to close the "de minimis" loophole, which allowed goods valued under $800 to evade tariffs, aim to increase tariff revenue and address widespread tariff evasion, reflecting a continued hardline approach. These policies have political ramifications domestically and internationally, as Trump's administration balances trade wars with economic and geopolitical strategies amid evolving global power structures.