#TrumpTariffs

(Overview of Trump’s Tariff Policies)

"First Term (2017–2021): Trump imposed tariffs on steel, aluminum, and various Chinese goods, aiming to reduce the trade deficit and bolster domestic manufacturing.

Second Term (2025–present): In March 2025, Trump escalated tariffs, implementing:

25% tariffs on most imports from Canada and Mexico.

Increased tariffs on Chinese goods from 10% to 20%.

Universal tariffs on steel, aluminum, and automotive imports. The Guardian+3Wikipedia+3CNN+3Wikipedia+1CNN+1

These measures were justified as efforts to combat illegal immigration, address the opioid crisis, and promote U.S. manufacturing. Reuters+2Wikipedia+2Wikipedia+2

📉 Economic Impact

U.S. Economy: The Federal Reserve revised its 2025 GDP growth forecast down to 1.7% from 2.1%, attributing the slowdown to tariff-induced inflation and trade uncertainties. The Guardian+1Business Insider+1

Global Economy: The OECD warned that Trump's tariffs could choke the global economy and reignite inflation, leading to reduced growth projections for the U.S., Canada, and Mexico. CNN

Consumer Prices: In April 2025, U.S. consumer prices rose modestly by 0.2%, but economists anticipate sustained inflation pressure due to ongoing trade wars."