#TrumpTariffs

Donald Trump's tariff policies are a cornerstone of his "America First" trade agenda, aiming to protect domestic industries and reduce trade deficits. During his first term, he imposed significant tariffs on steel, aluminum, solar panels, washing machines, and a wide range of Chinese goods. In his second term, the administration has enacted even steeper protective tariffs, with the average effective US tariff rate rising to an estimated 27% by April 2025.

These tariffs, which include a 10% baseline duty on all US imports and higher rates for specific countries, are intended to pressure trading partners into new deals. While Trump asserts that foreign nations pay these tariffs, economists generally agree that American importers and consumers bear the cost through higher prices. The policies have led to increased trade policy uncertainty, impacting global economic growth and causing market fluctuations.