ERM：2025年可持续性趋势季度展望报告（英文版）

U.S. tariffs have been the catalyst behind global trade disputes in recent months, with developments moving at lightning speed. The new U.S. administration first imposed new tariffs on Chinese imports in February 2025, then applied tariffs on Canadian and Mexican imports as well as all steel and aluminum imports. The U.S. also imposed a minimum 10 percent tariff on imports and reciprocal tariffs on close to 60 countries that went into effect April 2, then paused reciprocal tariffs for 90 days