#TrumpTariffs

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$BTC also known as "Trump tariffs," refer to the series of import tariffs implemented during the administration of former United States President Donald Trump (2017-2021), as part of his protectionist trade policy and slogan "America First."

Context and Objectives

Start: The tariffs began to be implemented starting in 2018.

Motivation: The main justification was to "protect American industry and jobs," combat what the government considered unfair trade practices (especially from China), and reduce the US trade deficit.

Main Targets: Chinese products, steel and aluminum from various countries (including Brazil), in addition to goods from other nations such as the European Union, Canada, and Mexico.

Examples of Tariffs

China: Tariffs on hundreds of billions of dollars in Chinese goods, with rates ranging from 10% to 25%.

Steel and Aluminum: 25% on steel and 10% on aluminum imported from various countries.

Various Products: Automobiles, electronic equipment, agricultural products, among others.

Impacts

Global Economy: Caused trade tensions, mainly with China, leading to retaliations (referred to as "trade war").

Businesses and Consumers: Increased costs for companies that depend on imported inputs, which may have been passed on to the end consumer.

American Agriculture: Sectors such as US agriculture were heavily impacted by retaliatory measures, such as Chinese tariffs on soybeans and other agricultural products.

Current Situation

Many tariffs imposed during the Trump administration are still in effect, even after Joe Biden took office, but discussions about reduction or maintenance continue to take place.