Trump's reciprocal tariff: a threat to global multilateral trading system

US President Donald Trump on April 2, 2025, announced a new 'Reciprocal Tariff' policy designed to revitalise the American industrial base, reduce trade imbalances, and protect domestic jobs. The policy introduced a two-tiered tariff structure: a universal 10 per cent tariff on all imports, effective April 5, 2025 and higher,...