#TrumpTariffs Donald Trump's tariff policies have been a key aspect of his economic agenda, aiming to protect American industries and workers. Here's an overview of his tariff plans and their implications:

Trump's Tariff Plans

- *Universal Tariffs*: Trump has proposed a 10% tariff on all imports from countries with which the US has a trade deficit, with higher tariffs on countries with larger deficits.

- *Country-Specific Tariffs*: Trump has imposed tariffs on countries like China, Canada, and Mexico, citing unfair trade practices and national security concerns.

- *Reciprocal Tariffs*: Trump's administration has proposed reciprocal tariffs on countries with trade barriers against the US, aiming to level the playing field.

Economic Impact

- *GDP and Employment*: The Tax Foundation estimates that Trump's proposed tariffs could reduce long-run GDP by 0.2% and employment by 142,000 full-time equivalent jobs.

- *Tariff Revenue*: The US government could collect $602.9 billion in tariff revenue from 2025 to 2034, excluding tariffs ruled illegal.

- *Trade Deficits*: Trump's tariffs aim to reduce the US trade deficit by promoting domestic manufacturing and reducing imports.

Controversies and Criticisms

- *Legality*: The US Court of International Trade has ruled that Trump's IEEPA tariffs are illegal, sparking debates about the president's authority to impose tariffs.

- *Global Trade*: Trump's tariffs have sparked retaliatory measures from other countries, potentially escalating into a global trade war.

- *Economic Consequences*: Critics argue that Trump's tariffs could harm American consumers and businesses, leading to higher prices and reduced economic growth.¹ ²

Recent Developments

- *China Trade Deal*: Trump has announced a trade deal with China, which includes a 55%