#TrumpTariffs President Donald Trump's tariff policies have been making headlines recently. Here's what's happening ¹ ² ³:

- *New Tariff Letters*: Trump has signed letters targeting 12 countries with tariff rates ranging from 10% to 70%, effective August 1. These letters will be sent to countries in batches of 10.

- *Tariff Rates*: Trump prefers simple tariff rates over complex negotiations. About 100 countries might face a 10% reciprocal rate, while others, like Vietnam, could see rates of 20% on all goods and 40% on transshipped goods.

- *Revenue Collection*: Trump's tariffs have already generated significant revenue, with $22.3 billion collected in May and over $16.1 billion in April.

- *Impact on US Employers*: According to analysis, Trump's tariff plans could cost US employers $82.3 billion, affecting firms with $10 million to $1 billion in revenue, particularly in the retail and wholesale sectors.

- *Trade Wars*: Trump's administration has escalated trade wars with countries like China, Canada, and Mexico, imposing higher tariffs on goods from these nations. For example, China faces effective tariffs of 145% on some imports.

- *Key Tariff Dates*:

- *April 2, 2025*: Trump signed an executive order imposing a minimum 10% tariff on all US imports.

- *April 5, 2025*: General tariffs took effect.

- *July 9, 2025*: Deadline for Trump to formally set tariff rates on goods from dozens of countries.

These developments indicate a significant shift in US trade policy under Trump's administration ¹ ³ ⁴.