Trump’s trillion-dollar trade war

U.S. President Donald Trump’s trade wars with allies and trade partners could easily surge through the trillion-dollar mark and affect almost a third of America’s total trade with the world


$17,500 billion 
Global merchandise trade in 2017

$3,900bn 
U.S. trade with the world in 2017

$1,254bn 
Trade at risk


China
Jul 6: U.S. and China to impose tariffs on $34 billion of imports – tariffs on further $16bn
announced.
Trump has vowed further $400bn worth of imports to be targeted with 10% tariff if Beijing
strikes back. China has pledged tit-for-tat tariffs
Total: $900bn

India
Tariffs hiked by 50% on 30 imported U.S. goods in retaliation to steel and aluminium levies
Total: $240 million

European Union
Threat to hit €10bn of U.S. goods if Trump imposes tariffs on auto trade worth $61.2bn
Total: $71.2bn

Malaysia, South Korea
Hit by 30% tariff on $4bn solar panel exports to U.S. and 20% tariff on $1.3bn washing
machine exports
Total: $5.3bn

Canada
U.S. has imposed 25% steel and 10% aluminium tariffs worth $12.6bn. Canada is responding with
like-for-like tariffs
Total: $25.2bn

Mexico
Has imposed tariffs on $3bn worth of U.S. exports to match Trump tariffs
Total: $6bn

NAFTA
Looming threat of auto levies on Canada and Mexico
Total: $246bn


Sources: Bloomberg, Financial Times, India Today, Nikkei Asian Review, WTO
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