$BTC Here's an update on Trump tariffs:

*Latest Developments*

- The US and China have agreed to a 90-day suspension and reduction of tariffs starting May 12, 2025. US tariffs on Chinese goods will be lowered from 145% to 30%, while China will reduce its tariffs on American products from 125% to 10%.

- A new trade deal has been announced between the US and the UK, which will see the US lower tariffs on British steel, aluminum, and automobiles. Tariffs on UK-made cars will drop from 25% to 10%, with up to 100,000 vehicles per year allowed at the reduced rate.

- The Trump administration has temporarily exempted smartphones, laptops, and other electronics from its sweeping 145% tariffs on Chinese imports.

*Tariff Status by Country*

- *United States Tariffs:*

- 10% minimum tariffs imposed on most countries

- 30% on Chinese imports for 90 days starting May 12

- 25% on imported cars and key auto parts

- 25% on steel and aluminum

- *Canada Tariffs on US:*

- 25% tariff on non-USMCA-compliant US-made vehicles

- 25% on CA$30 billion of US goods

- *Mexico Tariffs:*

- 15% duty on US goods starting March 10, and a sharp jump to 125% on all US-origin products effective April 10

- *China Tariffs:*

- 10-15% on US meat and agricultural products

- Suspension of US lumber imports and revocation of soybean import licenses

- *EU Tariffs:*

- Proposed tariffs on €4.5 billion of US consumer goods and €18 billion of US steel and agricultural products

*Impact*

- The economic consequences of Trump's tariffs are becoming increasingly evident, with potential price hikes on goods like electronics, clothing, and food.

- The automotive industry may see a significant increase in costs, with some analysts estimating that new auto tariffs could add $3,000 to the cost of US-manufactured vehicles.

- Economists warn that higher tariffs could exacerbate inflation, making everyday goods more costly for US households ¹.