In recent months, the United States has introduced trade policy measures that have reshaped the global trade landscape, including import tariffs of 10% or more on goods from around the world – measures that threaten to severely damage the most vulnerable economies.

This edition of the Global Trade Update provides a timeline of the trade policy decisions and an analysis of the impact of “reciprocal tariffs” on small and vulnerable economies.

These tariffs, currently on pause for 90 days, were calculated at rates to balance bilateral merchandise trade deficits between the US and 57 of its trading partners – ranging from 11% for Cameroon to 50% for Lesotho.

The report finds that in many cases, the reciprocal tariffs disproportionately affect these economies without significantly reducing the US trade deficit or contributing to additional tariff revenue collection. See the March edition of the Global Trade Update for more information on the role of tariffs in trade.

Report by the United Nations Conference on Trade & Development