United States: Despite Deals, Negative Trade Policy Impacts Grow

US President Donald Trump is advancing his protectionist trade agenda. Tariffs for many countries without an agreement are rising beyond those proposed in April, while many deals include rates above pre-Trump levels. Washington is also putting forward new sectoral tariffs and expanding their use to advance geopolitical goals.

In this concise 12-page report, Energy Intelligence updates its proprietary trade conflict scenarios. We expect extended uncertainty as questions about the duration and scope of tariffs swirl. The impacts – including increased inflation and lower job growth – will rise over the course of the year. Many deals aim to boost US energy exports and investment, but the viability of these provisions is questionable. Other policies, like steel tariffs, will weigh on the sector.