#TrumpTariffs * China: During his campaigns and second presidency, Trump has pledged and implemented significantly higher tariffs on Chinese goods, with figures ranging from 55% to even 145% at different points. This has often led to retaliatory tariffs from China.
* Mexico: He has proposed tariffs as high as 100% on goods from Mexico, and also imposed 25% tariffs on most goods from Mexico and Canada, particularly regarding drug trafficking concerns. Exemptions were later granted for goods compliant with the USMCA (United States-Mexico-Canada Agreement).
* Other Countries: He has also suggested a 20% tariff on all other countries.
* Specific Industries: Tariffs have been doubled on steel and aluminum imports (from 25% to 50%) and proposed on specific companies for outsourcing manufacturing (e.g., 200% on John Deere).
* "Reciprocal Tariffs": Trump's policy often involves imposing higher tariffs on countries with which the U.S. has a trade deficit, aiming to achieve a "reciprocal" trade balance.
Economic Impact:
Economists generally express significant concerns about the potential economic impact of these tariffs, often citing historical evidence that tariffs harm economic performance.
* Increased Costs for Businesses and Consumers:
* Tariffs are essentially a tax on imported goods. This increases the cost of raw materials, components, and finished products for U.S. manufacturers and consumers.
* This can lead to reduced profit margins for businesses and higher prices for consumers, ultimately reducing their purchasing power and potentially slowing consumer demand.
* Industries reliant on imported raw materials (like steel and aluminum) or with significant international supply chains (like manufacturing and pharmaceuticals) are particularly vulnerable.
* Reduced GDP and Economic Growth:
* Analyses by various organizations, including the Congressional Budget Office and the Tax Foundation, suggest that Trump's proposed tariffs could reduce U.S$BNB $ETH #BigTechStablecoin #BTC110KSoon? #CryptoRoundTableRemarks
