#TrumpTariffs Donald Trump's tariffs have been a significant aspect of his economic policy, particularly during his second term in office. Here's a breakdown of the key points ¹:

- *Average Tariff Rate*: The average effective US tariff rate has risen from 2.5% to an estimated 27%, the highest level in over a century.

- *Trade Wars*:

- *China*: Trump escalated the ongoing trade war with China, raising baseline tariffs on Chinese imports to 145%. China retaliated with a minimum 125% tariff on US goods and restricted exports of rare earths critical to high-tech industries.

- *Canada and Mexico*: Trump initiated a trade war with Canada and Mexico by imposing a 25% tariff on both countries but later granted indefinite exemptions for goods compliant with the USMCA.

- *Other Countries*: Trump imposed tariffs on other countries, including a 25% tariff on steel and aluminum imports from all countries, and a 10% tariff on all US imports, with higher tariffs on imports from 57 countries.

*Tariff Details*:

- *Baseline Tariff*: A minimum 10% tariff on all US imports, effective April 5.

- *Sector-Specific Tariffs*: 25% tariffs on steel, aluminum