Tariff wars – the story so far

In this recording of the "EU customs law update" webinar held on 6 May 2025, Anthony Buckley, CEO of Anthony Buckley Consulting Ltd., traces the origins of the current US-led global tariff war and sets out what it means for customs and trade compliance professionals navigating an increasingly protectionist environment.

Topics covered:

• The historical background to the Trump administration's tariff policy, and whether it is an outlier or the outgrowth of decades of globalisation
• The decades-long shift of manufacturing to lower-cost economies and its role in fuelling economic nationalism and populism in the US and Europe
• The accelerating effect of COVID-19, the invasion of Ukraine, the climate crisis and migration pressures on trade policy
• The EU's own deforestation regulation (EUDR) as an example of trade-restricting environmental regulation
• Current US measures: the 10% global tariff, paused "reciprocal" tariffs, 25% tariffs on steel, aluminium, cars and components, removal of the $800 de minimis exemption for China and Hong Kong, proposed tariffs on foreign films, and proposed "secondary tariffs"
• The mechanics of the US Harmonized Tariff Schedule's "column two" duties and their expanded application
• The EU's response, including a threatened digital sales tax
• Likely future developments: how long the tariffs may last, their economic justification, and the impact on supply chains, smaller traders and manufacturing employment

For a broader overview of the topic, please watch the full recording. The slides are available in the Resources section.

Please note that this summary was generated using AI, based on the recording and available slides.