#TrumpTariffs Trump's tariffs. Let me start by reminding you what I know. Trump was the President of the United States from 2017 to 2021, right? During his presidency, there was a lot of talk about trade wars, especially with China. I remember hearing about tariffs on steel and aluminum, but there may have been other tariffs as well. First,

tariffs are specifically taxes on imported goods, which increases their price. The goal is to protect domestic industries from foreign competition by raising the prices of imports. So, the Trump administration imposed these tariffs to help American companies, but why steel and aluminum specifically? Perhaps these industries were struggling, and Trump wanted to boost them.

Then there's the Chinese side. There was a major trade dispute between the United States and China. Trump accused China. Trump accused China of unfair practices, such as intellectual property theft and forced technology transfer. So, he imposed tariffs on many Chinese goods. China responded by imposing tariffs on American products. This situation escalated into a trade war. Did it affect the economy? Perhaps some companies suffered due to rising costs, while others benefited from reduced competition.

What about the first phase of the trade agreement? Perhaps it was an agreement to ease tensions?