Core Viewpoint - The recent trade framework agreements between the United States and several Latin American countries, along with potential tariff reductions for Switzerland, signify a new phase in the global tariff negotiations, driven by domestic inflation pressures and the need for economic resilience [1][3][7]. Group 1: Trade Agreements - The U.S. has reached trade framework agreements with Argentina, Guatemala, Ecuador, and El Salvador, focusing on reducing tariffs on agricultural products such as bananas, coffee, and cocoa, which are not sufficiently produced domestically [5][6]. - The agreement with Argentina is the most comprehensive, offering preferential market access for U.S. pharmaceuticals, chemicals, machinery, IT products, medical devices, and automobiles [6]. Group 2: Domestic Influences - The acceleration of tariff negotiations is partly due to rising domestic inflation, particularly in food prices, which has created pressure on the government following recent local elections [7][9]. - The U.S. government is considering adjustments to tariffs on food-related imports, indicating a more flexible approach to tariff strategies [9]. Group 3: Legal and Political Context - The U.S. government faces legal challenges regarding the president's authority to impose tariffs under the International Emergency Economic Powers Act, which could impact existing tariffs on Canada, Mexico, and China [11]. - Despite these legal uncertainties, negotiations continue as countries seek favorable agreements, driven by the fear of falling behind competitors who have already secured deals [11]. Group 4: Global Trade Responses - In response to U.S. tariff policies, countries are actively seeking diversified trade partnerships to reduce reliance on the U.S. market [13][14]. - The European Union is expanding trade partnerships globally, while ASEAN countries are leveraging regional agreements to enhance economic integration [15]. - Multilateral trade systems are being reinforced, with initiatives aimed at strengthening global trade frameworks amidst current trade disruptions [15].