#TrumpTariffs Donald Trump's tariffs have significantly impacted global trade. Here's a breakdown:

- *Tariff Rates*: Average effective US tariff rate rose from 2.5% to 27%, the highest level in over a century.

- *Trade Wars*: Trump escalated trade wars with China, raising baseline tariffs on Chinese imports to 145%. China retaliated with 125% tariffs on US goods.

- *Other Countries*: Tariffs were imposed on Canada, Mexico and other nations, sparking concerns about inflation and recession.

- *US Goals*: Trump aims to reduce trade deficits and support domestic manufacturing.

- *Economic Impact*: Downgraded GDP growth projections and rising recession expectations ¹.