#TrumpTariffs President Trump's tariff policy involves imposing significant tariffs on imported goods to strengthen the US economic position and protect American workers. Here's a breakdown ¹ ²:

- *Tariff Rates*: Trump has announced tariffs ranging from 10% to 70% on goods from various countries, with specific rates including 20%, 25%, and 30%.

- *Affected Countries*: Twelve countries are targeted, with letters outlining tariff rates to be dispatched. Trump plans to send 10 letters a day dictating tariff rates to other countries.

- *Implementation*: Tariffs are set to kick in from August 1, with some countries potentially facing higher rates than others.

Key Developments

April 2025 Trump imposed a 10% tariff on all countries with individualized reciprocal tariffs on specific nations. A 90-day pause on imposed tariffs was later authorized with substantially lowered reciprocal tariffs during this period.

May 2025 A US federal court blocked the Liberation Day tariffs only to have them temporarily reinstated the following day.

July 2025 Trump signed tariff letters targeting 12 countries with rates up to 70%. He plans to send letters to trading partners outlining unilateral tariff rates which would take effect on August 1

Potential Impact

Trade Wars Trump's tariffs could escalate trade tensions with countries like China Canada and Mexico.

Economic Consequences Studies suggest Trump's tariffs could reduce real income in the Us adversely affect GDP and increase consumer prices