Will Trump Back Down on Tariffs?

Arun Venkataraman was quoted in a WirtschaftsWoche article about the economic consequences of President Trump’s tariff regime and the outlook for U.S. trade policy in 2026.

Arun noted that tariff actions are likely to continue as retaliatory measures against what the administration deems unfair trade practices or necessary steps for national security, and he cautioned that businesses should expect ongoing volatility in trade policy.

Arun said, “Uncertainty and unpredictability are here to stay.”

Arun further noted that he does not expect any change to the 50 percent tariffs on steel and aluminum, adding that the U.S. government appears determined to keep those rates high to promote domestic production and counter global overcapacity concerns.