Navigating a tariff-ridden world order

To mitigate the impact of the tariff war sparked by US President Donald Trump, address uncertainty over tariffs on Pakistan’s exports to the US, and contain the trade deficit, the government must prioritise economic diplomacy and enhance the competitiveness of the export sector. Donald Trump imposed a new 25 per cent tariff on imports from Mexico and Canada, along with a broad 10pc tariff on all Chinese imports. Last week, he announced a blanket 25pc tariff increase on all steel and aluminium imports, affecting the European Union (EU) as previous exemptions, duty-free quotas and product exclusions expired.