#TrumpTariffs The Trump tariffs refer to the trade policies implemented during Donald Trump's presidency, which included imposing tariffs on imported goods from various countries, including China, Canada, and Mexico. These tariffs were intended to protect American industries and jobs, but they have also had significant economic implications ¹.

*Key Tariffs and Their Impacts:*

- _Tariffs on China_: A 10% tariff was imposed on all imports from China, with plans to increase it to 20% ².

- _Tariffs on Canada and Mexico_: 25% tariffs were imposed on imports from these countries, with exemptions for auto imports and USMCA-compliant goods ².

- _Steel and Aluminum Tariffs_: Tariffs were imposed on steel and aluminum imports, with rates ranging from 10% to 25% ².

*Economic Effects:*

The tariffs have had a negative impact on the US economy, reducing economic output by 0.4% and hours worked by 309,000 full-time equivalent jobs ². The tariffs have also led to retaliation from other countries, further exacerbating the economic impact.

*Revenue Effects:*

The tariffs are expected to generate significant revenue for the federal government, with estimated conventional revenue of $1.727 trillion and dynamic revenue of $1.385 trillion from 2025 to 2034 ².