Current Developments in US Tariff Policy
Under the leadership of President Trump, US economic policy is heavily characterized by an aggressive tariff policy, which has significant impacts on global financial markets.
- Trump announced a 50 percent import tariff on goods from the European Union (EU) effective June 1, 2025, marking a significant escalation from the previously temporarily imposed tariffs of 10 to 20 percent.
- Additionally, as of June 4, a 50 percent tariff on steel and aluminum imports is in effect, doubling previous rates.
- The US has also imposed tariffs against approximately 185 countries, with base tariffs of at least 10 percent since April 2025; further additional tariffs were initially suspended but are set to be enacted starting in August.
Importance for Investors in German-speaking Countries
The drastic tariff measures significantly increase uncertainty in the financial markets. In particular, companies with strong trade connections to the EU or other affected regions face rising costs and potential sales issues. The influence on affected stock prices is already evident.
For investors, this means increased risk when investing in export-dependent companies or sectors with a high share of imported intermediate products.
Political Background and Strategic Motives
Trump’s tariff policy is not only aimed at economic objectives such as revenue enhancement or market opening but also serves as a domestic political tool: By granting or denying exceptions to tariffs, he can exert political pressure and enforce support.
Impact on Monetary Policy
The escalating trade conflict places additional pressure on the Federal Reserve. A restrictive monetary policy could be complicated by the negative effects of the trade dispute.
German-speaking investors should closely monitor the political environment, minimize risks through diversification, and identify potential opportunities in sectors that are less affected by trade.
Overall, it is evident that US economic policy under Trump remains a central factor for global markets with direct consequences for investors in Europe.