---
title: "Trump Prepares Tariffs Worth ‘Trillions’ as Global Trade War Escalates"
publisher: "Share Talk"
author: "sharetalk"
published: "2025-03-19T17:00:06+00:00"
modified: "2025-03-19T17:00:06+00:00"
date: 2025-03-19
canonical: "https://www.share-talk.com/trump-prepares-tariffs-worth-trillions-as-global-trade-war-escalates/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["canada", "carmakers", "china", "chinese", "Donald Trump", "EU", "European", "Fed", "Federal Reserve", "GDP", "goods", "Hong kong", "Japan", "London", "Mexican", "Mexico", "UK", "UK economy", "USA"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/11/Donald-Trump-18-NOV.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Trump Prepares Tariffs Worth ‘Trillions’ as Global Trade War Escalates

**Published:** March 19, 2025
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** canada, carmakers, china, chinese, Donald Trump, EU, European, Fed, Federal Reserve, GDP, goods, Hong kong, Japan, London, Mexican, Mexico, UK, UK economy, USA
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/11/Donald-Trump-18-NOV.webp?fit=1200%2C800&quality=80&ssl=1)

---

Donald Trump is gearing up to impose tariffs on goods worth “trillions” of dollars next month, escalating his global trade war.

The former US president has already hiked tariffs on approximately $800 billion (£616bn) worth of imports from China, Mexico, and Canada. Just last week, he introduced new levies on global steel and aluminium imports.

According to The Washington Post, White House officials are finalising plans to roll out these sweeping tariffs starting April 2. Trump has referred to this date as a “liberating day for our country,” vowing to implement “reciprocal tariffs” to counter what he sees as unfair trade practices.

The announcement comes as the Federal Reserve prepares to release its latest economic projections alongside its next interest rate decision. When it announces its policy decision today at 6 PM UK time, the central bank is expected to keep its benchmark interest rate steady within the 4.25%-4.50% range.

In response, markets saw gains, with the S&P 500 climbing 0.8%, the Dow Jones rising 0.7%, and the Nasdaq advancing 1.1% at time of reporting.

JP Morgan analysts warn that Trump’s tariff measures could put the Fed in a difficult position. Chair Jerome Powell is likely to face scrutiny over the impact of trade policies on the US economy.

Markets currently indicate that the Fed is expected to hold interest rates steady in the 4.25%-4.5% range. However, investors will closely analyze the central bank’s updated economic outlook—the first since Trump reignited trade tensions.

Bruce Kasman, chief economist at JP Morgan, cautioned: “The Fed will be in the uncomfortable position of having to assess the impact of recent US policy shifts.

Growth forecasts may be revised downward, while inflation expectations could rise, fueling concerns about stagflation in Powell’s press conference.”

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