#TrumpTariffs
$TRUMP | TRUMP: 10.75 (-3.58%)
Here’s What You Need to Know 📉📊
🔹 Steel & Aluminum
Trump’s new 50% tariffs on imported steel and aluminum have taken effect, adding pressure on top of the existing 25% duties since March. The Can Manufacturers Institute warns this will raise the cost of canned goods for millions of American households.
🔹 Autos & Parts
A 25% tariff is now in place on automobiles and a wide range of auto parts, increasing production costs across the auto industry.
🔹 Smartphones
A potential 25% tariff looms for Apple, Samsung, and other non-U.S. smartphone manufacturers—set to kick in by the end of June.
🔹 China
While a court initially blocked Trump’s tariff hike on Chinese goods, an appeals court allowed the tariffs to remain. Trade tensions persist.
🔹 Canada & Mexico
Tariffs of 25% are still active, despite initial legal challenges. However, exemptions apply for goods compliant with USMCA.
🔹 EU & Other Allies
U.S. allies now face a 10% tariff. These were also challenged in court but ultimately upheld by an appeals court.
🔹 Global Economic Impact
Over two-thirds of New Zealand (Kiwi) businesses believe U.S. tariffs will have a more damaging global effect than COVID-19 or the 2008 crisis.
Nearly 80% of exporters cite U.S. protectionism as their top concern.
🔹 International Backlash
South Korea’s President Lee Jae-myung strongly condemned the tariffs, warning of existential threats to global trade. Japan and Singapore have also voiced strong opposition.
📈 Key Insight:
The current average U.S. effective tariff rate is around 15%—the highest since 1938, according to Yale’s Budget Lab. These tariffs have already triggered a historic market sell-off and could reshape global trade dynamics for years to come.
#TrumpTariffs #tradewarandcrypto #GlobalMarkets #USChinaTrade #TariffImpact #Geopolitics #TRUMPStock $TRUMP
