Since being sworn into office, Trump and his administration have implemented steep tariffs on friends and foes alike. Why? How does this affect community banking?
According to the Wall Street Journal, President Donald Trump and crew have accomplished the following:
- 25% tariffs on all goods from our neighbors Mexico and Canada
- 25% tariffs on all steel and aluminum imports
- 10% additional tariffs on all goods from China
Just to name a few…
Trump, Tariffs, and The Effects On Community Banking
President Trump has his eyes set on a reciprocal tariff set up “on any trading partner that charges tariffs or imposes other trade barriers on U.S. products.” This will go into effect on April 2nd, 2025.
Simply put, a “Reciprocal Tariff” works exactly the way it sounds: If you tariff me 20% I tariff you 20% and so forth. In theory, this will start negotiations with the trade partner. The trade partner would back down from their tariff levels and we as partners would find a nice middle ground.
Stay tuned, more to come on how this will effect investing opportunities, and community banking.
The Banker Report 
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