#TrumpTariffs
๐บ๐ธ 1. โLiberation Dayโ Tariffs (April 2, 2025)
๐ Started: April 5 (10% on all imports)
๐ Higher rates: April 9 (reciprocal tariffs on trade-deficit countries)
โ๏ธ Legal status: Declared illegal by court ๐งโโ๏ธ (May 28), but still active due to appeal ๐ฉโโ๏ธ
๐ 2. Country-Specific Tariffs
๐ IEEPA-based tariffs remain on:
๐จ๐ฆ Canada, ๐ฒ๐ฝ Mexico, ๐จ๐ณ China, ๐ป๐ช Venezuela (fentanyl/trade imbalance grounds)
๐ฅ Some up to 25%
๐๏ธ 3. Section 232 Steel & Aluminium Tariffs
๐ ๏ธ New rate: 50% (as of June 4)
๐ฌ๐ง UK: Still under 25% pending trade deal
๐ฌ 4. Tariff Warning Letters
โณ 90-day pause ends July 8
๐ New target: August 1
๐ข Over 100 letters to partners warning of tariffs up to 70% if no deal
๐ค 5. Trade Negotiations
โ Deals signed: ๐ฌ๐ง UK, ๐ป๐ณ Vietnam
โ๏ธ Partial deals: ๐จ๐ณ China
๐ฃ๏ธ Talks ongoing: ๐ฎ๐ณ India, ๐ช๐บ EU
๐ 6. Economic & Legal Impact
๐ Estimated long-term effects:
๐ธ GDP โ ~6%, Wages โ ~5%, Avg. family loss = $22K
โ๏ธ Major legal cases still in motion (next court date: July 31)
๐ Topic ๐ Status
๐ฏ Liberation Tariffs Still in force (under appeal)
๐งฑ Steel/Aluminum 50% active via Section 232
๐ Country Tariffs Active; Aug 1 letters incoming
โ๏ธ Trade Deals UK & Vietnam done, EU/India in progress..