#TrumpTariffs

#TrumpTariffs – A Shift in Global Trade Policy

#TrumpTariffs refers to a series of trade measures initiated by former U.S. President Donald Trump starting in 2018. These tariffs primarily targeted Chinese imports, covering goods worth hundreds of billions of dollars. The rationale was to reduce the U.S. trade deficit, protect American industries, and pressure China to reform practices related to intellectual property theft, forced technology transfers, and market access restrictions.

The tariffs began with steel and aluminum, then expanded to thousands of Chinese products — from electronics to household goods. China retaliated with its own tariffs on American exports like soybeans, cars, and energy products, triggering a U.S.-China trade war.

Key Impacts:

• Global Supply Chains Disrupted: Businesses had to find new suppliers or absorb higher costs.

• Higher Consumer Prices: Import tariffs raised the cost of goods in the U.S., affecting inflation.

• Market Uncertainty: Investors and global markets saw increased volatility during the trade standoff.

• Shift in Alliances: Countries like Vietnam, Mexico, and India gained manufacturing opportunities as companies moved out of China.