#TrumpTariffs

Former President Donald Trump has unveiled a sweeping new tariff plan set to shake up the global economy. Over the next one to two weeks, the U.S. will send "take-it-or-leave-it" tariff proposals to over 150 countries—including key allies like Japan, South Korea, and the EU.

🔥 What’s in Trump’s Latest Trade Move?

China Deal Locked In: Trump confirmed a finalized trade agreement with China, featuring a 55% tariff on Chinese imports. This rate bundles existing tariffs with new penalties linked to fentanyl enforcement.

In return, China will:

Resume exports of rare earth minerals and magnets, vital for defense and tech.

Maintain a lower 10% tariff on U.S. imports.

See eased visa restrictions for Chinese students coming to the U.S.

📉 Market Shockwaves:

The U.S. dollar plunged to a three-year low, down roughly 0.9% amid fears of a global trade shakeup.

UK exports to the U.S. dropped by £2 billion in April alone, directly tied to rising tariff concerns.

🕒 What’s Next?

At a speech at the Kennedy Center, Trump emphasized that after the 90-day tariff pause ends on July 8, final tariff letters will be delivered. While some allies may see deadline extensions, European countries could be last to finalize terms.

💡 Why This Matters:

Consumer Prices: Higher tariffs may drive up costs for everyday goods.

Supply Chain Disruption: Businesses may need to rethink sourcing and logistics.

Geopolitical Tensions: The aggressive stance could strain U.S. relationships with both allies and rivals.