On Jan. 20, 2025, local time, the term of the 47th President of the United States, Donald Trump, began. In his inaugural address, President Trump stated, “The golden age of America begins now. The decline of America will end,” expressing a strong tone in advocating for America First. He also reiterated campaign promises such as universal tariff and restrictions on illegal immigration, showing a strong commitment to fulfilling his pledges. President Trump canceled approximately 78 executive actions, including the Biden administration’s open border policies and climate change response measures. Although it was not implemented, on Feb. 1, he proposed a plan to impose a 25% tariff on all imports from Canada, excluding energy and oil, and a 25% tariff on all imports from Mexico. In this regard, the prominent British current affairs weekly, The Economist, assessed that the reason for not increasing tariffs in the early days of his presidency was to avoid unsettling investors and to strategically lead future negotiations with trade partners in a favorable direction. 

  Countries which are currently subjected to tariff measure by the Trump administration, including Colombia, Mexico, Canada, and China. The countries which are subjected to tariff have implemented various response measures. Notable measures include retaliatory tariff, negotiations, increasing imports and trade volume from the U.S.. Countries such as China, Mexico, and Canada have considered implementing retaliatory tariff in response to the Trump administration’s tariff measures.

  The Prime Minister of Canada, Justin Trudeau, strongly criticized the tariff measures of the Trump administration’s second term, stating that Canada is “working with Mexico” to respond to the U.S. tariff. The statement was made that a 25% retaliatory tariff would be imposed on U.S. products, and that various non-tariff measures are also being considered.

  The President of Mexico, Claudia Sheinbaum, announced that immediate tariff and non-tariff measures are being considered in response to the U.S. tariff imposition. President Sheinbaum also stated, “Tariff pressures could lead to inflation and job losses in both countries,” and called for the withdrawal of the “declaration of tariff war.” China immediately expressed dissatisfaction with the imposition of these tariffs. Additionally, The Ministry of Commerce of China, in a statement, claimed that the unilateral additional tariff imposed by the U.S. seriously violate World Trade Organization rules. China’s state-run media, Xinhua News Agency, criticized the U.S. trade protection measures saying that they are facing opposition both in the international community and within the U.S.. It also reported that in response to the U.S. tariff measures, the Chinese government will impose retaliatory tariff of 15% on U.S. coal and liquefied natural gas (LNG). In addition, India is one of the countries that has taken proactive measures by negotiating an increase in imports and trade volume with the U.S. in response to the tariff measures.

  On Feb. 13, local time, President Trump announced that he would start negotiations with the goal of reaching a trade agreement with India to address issues such as the trade deficit. He stated regarding trade with India, “The U.S. trade deficit with India amounts to 100 billion dollars,” adding, “The Prime Minister Modi and I have agreed to hold negotiations to address this long-standing imbalance, with the goal of reaching a trade agreement.” The Prime Minister Modi responded, “We have set a goal to more than double the trade volume between the two countries to 500 billion dollars by 2030,” and added, “We have decided to work towards reaching a mutually beneficial trade agreement.” Regarding the tariff measures of the Trump administration’s second term, Professor Shin Kot-bee of the Dept. of Economics at CBNU stated, “While this tariff imposition may appear to focus on promoting the interests of the U.S. economy, there is also an interpretation that it carries a fundamental geopolitical goal of strengthening the U.S.’s global hegemony.” She also stated that it could bring about a significant change in the global trade order and potentially promote the emergence of a new international order.