Donald Trump's tariffs are a key part of his economic policy, aiming to protect American industries

Donald Trump's tariffs are a key part of his economic policy, aiming to protect American industries and jobs. Here's what you need to know:

Tariff Rates

- Baseline Tariff: 10% duty on all imports

- Country-Specific Tariff Rates:

- Cambodia: 49% levy

- Vietnam: 46% levy

- Sri Lanka: 44% levy

- China: 145% baseline tariff on Chinese imports, with China imposing a minimum 125% tariff on US goods in retaliation

Impacted Industries

- Automotive: 25% tariff on imported autos, expected to raise $100 billion in tax revenues

- Steel and Aluminum: New tariffs imposed, with specific rates for different countries

- Canned Beer and Aluminum Cans: 25% tariff imposed on imports

- Smartphones and Computers: Initially exempt from tariffs

Retaliations and Reactions

- China: Imposed retaliatory tariffs on US goods and restricted exports of rare earths critical to high-tech industries

- Canada and Mexico: Initially exempt from some tariffs, but subject to others; both countries have retaliated with their own tariffs on US goods

- European Union: Imposed 25% tariffs on US goods like almonds and yachts

- Other Countries: Various countries have retaliated or expressed concerns about the impact of Trump's tariffs on their economies

Current Status

- As of May 2025, the average effective tariff rate is 17.8%, significantly higher than the 2.5% rate before Trump's tariffs ¹

- Some tariffs have been delayed or paused, such as the 50% tariff on EU imports, which was delayed to July 9 ²