Data and Financial Journalist
The U.S. reported major trade deficits in February 2025 with China, the EU, and Mexico—just as President Trump’s latest round of ‘reciprocal’ tariffs took effect. Here’s a breakdown of who’s facing the steepest penalties, and why some key allies like Canada and Mexico are exempt.
On April 2, dubbed “Liberation Day” by President Trump, the U.S. will impose new “reciprocal” tariffs on imports, escalating trade tensions with key partners.
While countries like China, Mexico, and Canada are already expected to be hit hardest, many European and Asian economies will likely see a huge impact, prompting global warnings of retaliation, trade wars and a global economic slowdown.
Less than 1% (0.5% ) of total U.S. imports are from Colombia. But, 28% of Colombia’s imports come from the U.S. The breakdown underscores Colombia’s role as a key supplier of niche products to the U.S. market.
Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut—so large that it is likely to limit the price effects even of a wider conflict in the Middle East