联合国贸易发展委员会-全球贸易更新（2025年4月）_关税升级——对小型和脆弱经济体的影响（英）-2025.4_12页_3mb

Summary of U.S. Escalating Tariffs and Their Impact on Small and Vulnerable Economies

Introduction

In April 2025, the United States implemented a series of escalating trade measures under its "America First" policy, justified by laws such as IEEPA, Section 232, Section 301, and Section 604. These measures, including "reciprocal tariffs," aim to address trade deficits but disproportionately affect small and vulnerable economies, Least Developed Countries (LDCs), and could hinder their economic development.

Legal Basis

The tariffs are enforced through:

• IEEPA: Broad authority for national economic emergencies, leading to 10% across-the-board tariffs starting April 5, 2025.
• Section 232: Imposes tariffs on specific goods like steel (25%) and aluminum (25%, increased from 10%).
• Section 301: Targets unfair trade practices and violations, enabling sanctions and "reciprocal tariffs."
• Section 604: Authorizes restrictions on imports based on trade relationships.

Timeline of Implementation

Key dates include:

• January 20, 2025: U.S. introduces America First Trade Policy and higher tariffs.
• February 13, 2025: Reciprocal Trade and Tariffs Memorandum, abandoning MFN system.
• March 12, 2025: Reinstated 232 tariffs on steel and aluminum; 25% tariffs on goods from countries importing Venezuelan oil.
• April 2, 2025: National emergency declared; 10% reciprocal tariffs imposed, with exceptions for U.S.-origin content.
• April 5, 2025: Additional 10% tariffs applied, exemptions detailed in Annex II.
• April 9, 2025: Tariffs on 57 trading partners take effect, with a 90-day pause for 10% tariffs.

Impact on Small and Vulnerable Economies

• The tariffs disproportionately harm small economies and LDCs, which contribute minimally (often less than 0.1%) to U.S. trade deficits, reducing their export opportunities.
• Many tariff-exempt products (e.g., oil, pharmaceuticals) limit revenue impact but exacerbate economic challenges in exporting countries.
• Trade concessions from these partners have little benefit for the U.S., while potentially increasing prices for consumers.

Forward Look

The 90-day pause offers an opportunity to reassess the policy's impact. African countries and FTA partners like Canada and Mexico receive specialized treatment. The U.S. should consider exemptions for vulnerable economies, as tariffs do not significantly boost revenue but cause disproportionate harm.