$BTC Trump Tariffs Update (May 2025): President Trump’s tariffs, a cornerstone of his America First policy, have reshaped global trade. As of May 14, 2025, a U.S.-China deal lowers tariffs by 115%, retaining a 10% baseline for 90 days. Tariffs on Chinese goods hit 145% earlier, with exemptions for smartphones and electronics. A 10% global tariff persists, with 11-50% reciprocal rates paused for most countries. Steel, aluminum, and auto tariffs (25%) remain, alongside a closed de minimis loophole for Chinese packages. Economists warn of 8% GDP reduction and $58K household losses. The EU considers countermeasures, while USMCA-compliant goods from Canada and Mexico face no new duties.
