#TrumpTariffs Here’s a detailed update on Trump’s tariff strategy—and what it means:

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🛡️ What Tariffs Has Trump Imposed in His Second Term?

**“Liberation Day” sweeping tariffs** (April 5–9, 2025):

A 10% universal tariff on nearly all imports, with additional "reciprocal" tariffs ranging from 11% to 50% for around 57 countries .

China faced skyrocketing tariffs: up to 145% at peak, later adjusted to 30% baseline + additional drug and security-related levies .

Steel & aluminum: 25% for some, 50% for others .

Automobiles & parts: 25% .

Others under review/investigation: semiconductors, copper, lumber, aircraft, iPhones, etc. .

Canada & Mexico: 25% tariff (10% on energy from Canada), though USMCA-compliant goods gained exemptions .

March 24 – EO 14245: 25% tariff on any country importing Venezuelan oil .

As a result, the average U.S. tariff climbed from ~2.5% to ~27% by April, then hovered at around 15.1% by June 1, 2025 .

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🔍 Legal Battle & Court Update

A lower court initially blocked the tariffs, citing overreach under the International Emergency Economic Powers Act (IEEPA).

The U.S. Court of Appeals for the Federal Circuit has put that block on hold—allowing the tariffs to stay—while it conducts a fast-tracked review.

Final oral arguments are slated for July 31, 2025 .

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🔁 Recent Developments & Trade Deals

U.S.–China framework:

Announced in London (June 9–10), pending Trump-Xi final sign-off. U.S. keeps 55% total tariffs on Chinese imports (10% baseline + 20% drug + 25% existing), while China retains 10% tariffs on U.S. goods .

China has agreed to supply rare earth minerals and lift restrictions temporarily .

Markets reacted with caution—or modest declines—as investors weigh the impact .

Deals also negotiated with the UK, and ongoing talks with the EU, Mexico, and others under 90-day deadlines (July 9) for reciprocal tariff adjustments .

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💰 Economic Impact & Outlook

Tariff revenue up ~78%, though broad CPI inflation is still modest (~2.4% year-over-year in May) .