ICC Issues Statement in Response to Sweeping U.S. Tariff Measures

On 2 April 2025, the United States announced a sweeping package of reciprocal tariffs on imports from over 60 countries, citing persistent trade imbalances as a national security concern. The measures cover a wide range of products and sectors, bringing U.S. average tariff levels to their highest point since the Smoot-Hawley era of the 1930s.

The International Chamber of Commerce (ICC) has issued a statement urging de-escalation and multilateral cooperation to address global trade challenges.

🔗 ICC Statement: Business responds to US reciprocal tariff plan

ICC’s Core Messages:

•De-escalation is essential: Retaliatory measures risk triggering a trade war that would deepen economic harm.

•Open trade underpins global growth: A stable and open global trading system is key to economic resilience.

•Modern multilateral rules, not unilateral action: Effective solutions must be built through updated global trade frameworks.

To support the business and policy community, ICC has released:

•A Business Briefing Note: Outlining the key elements of the U.S. measures and immediate operational implications (by George Riddell);

•A Strategic Analysis: Examining long-term systemic implications for policymakers and corporate leaders (by Simon Evenett).

In addition, ICC is preparing an advocacy toolkit for national committees and business leaders, including suggested messaging, talking points, and background materials to guide engagement with governments and international stakeholders.

ICC Ukraine urges Ukrainian companies engaged in international trade to closely monitor the situation and contribute to a coordinated business response that defends open markets and clear, rules-based trade.

📩 For more information, comments, or input, please contact ICC Ukraine: [email protected]