Episode 109 – An Eye for an IEEPA: Trump Tariffs - Where Are They Now?

In this episode of Current Account, Clay gives an update on the current state of the U.S. tariff policies, namely with reaction and implications of the April 2nd "Liberation Day" tariff announcements. Clay begins with a scene-setting of what tariffs are currently in place and on hold, before providing a framework for how the current Trump Administration may be approaching tariff implementation - broken down into four main categories: (1) Market reaction, as demonstrated by the immediate market reaction following the April 2nd tariff policy announcements, (2) negotiations and diplomacy, highlighted by trade deals and discussions with many of the United States' main trade partners, (3) political backlash, with most impact likely to be shown at the upcoming 2026 Midterm Elections, and (4) litigation, mainly from legal challenges to the use of the International Emergency Economic Powers Act (IEEPA). *please note that the Institute of International Finance does not provide legal advice This IIF Podcast was hosted by Clay Lowery, Executive Vice President, Research and Policy, with production and research contributions from Christian Klein, Digital Graphics and Production Associate and Miranda Silverman, Senior Program Assistant.