#TrumpTariffs ChatGPT

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#TrumpTariffs

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Here’s a comprehensive update on #TrumpTariffs and their current impacts and outlook:

📌 Key Developments

1. New U.S.–China Tariff Agreement

A tentative truce in London (June 10–11, 2025) establishes a 55% effective tariff on Chinese imports. This combines existing duties with new punitive tariffs, in exchange for Chinese exports of rare‐earth minerals and U.S. easing of export controls/visa restrictions wsj.com+15reuters.com+15economictimes.indiatimes.com+15.

Treasury Secretary Bessent indicates possible 90‑day extensions for countries actively negotiating — the “TACO” acronym mocks the inconsistent policy flips forbes.com+3thedailybeast.com+3thescottishsun.co.uk+3.

2. Domestic Economic Impact

Inflation: Despite concerns, inflation held at ~2.4% YoY in May, with core inflation steady near 2.8%. Some prices (vehicles, apparel) have fallen washingtonpost.com+2ft.com+2nypost.com+2.

Jobs & Growth: U.S. unexpectedly added ~139k jobs in May; overall economy is showing resilience timesofindia.indiatimes.com+7washingtonpost.com+