#BinanceAlphaPoints

#TrumpTariffs Donald Trump's tariffs are a significant aspect of his economic policy, impacting global trade and the US economy. Here's a breakdown ¹:

*Tariff Details*

- *Universal Tariff*: A 10% baseline tariff on all countries, with higher tariffs on trading partners based on their trade balance with the US.
- *Country-Specific Tariffs*:
- *China*: 20% tariff on all imports, plus a 125% tariff on certain imports, resulting in a 145% tariff on most imports.
- *Canada and Mexico*: 25% tariffs, suspended for USMCA-compliant imports.
- *Product-Specific Tariffs*:
- *Steel and Aluminum*: 25% tariffs, expanded to include derivatives and end country exemptions.
- *Autos*: 25% tariffs on all auto imports, excluding US content from Canada and Mexico.

*Economic Impact*

- *GDP Reduction*: Trump's tariffs are estimated to reduce long-run US GDP by 0.7%, with a potential further 0.2% reduction due to foreign retaliation.
- *Job Losses*: An estimated 685,000 full-time equivalent jobs lost due to imposed tariffs.
- *Revenue Increase*: Tariffs are expected to raise $2.1 trillion in revenue over the next decade, but $622 billion less when factoring in negative economic effects.

*Retaliation*

- *China*: Imposed tariffs on $13.9 billion of US exports, with rates of 10-15%, and later increased to 125% on all US exports.
- *Canada*: Imposed tariffs on $20.8 billion of US exports, with rates of 25%.
- *European Union*: Planned tariffs on $8 billion of US exports, with rates up to 50%.