A Simple Summary of Trump's Tariffs:
🔹 What are they?
Trump Tariffs are tariffs imposed by the administration of former U.S. President Donald Trump on imported goods, especially from China, starting in 2018.
🔹 Goals:
1. Reduce the U.S. trade deficit
2. Protect American jobs and industries
3. Pressure China to change its trade practices (such as intellectual property theft and government support for companies)
🔹 Key goods affected by the tariffs:
Technology products
Steel and aluminum
Home appliances
Clothing and agricultural products
🔹 Results and impacts:
✅ Some American companies benefited (such as steel companies)
❌ But:
Prices of goods for consumers in America increased
China retaliated by imposing tariffs on American goods (such as soybeans and meats)
American agriculture was negatively affected
Global trade tensions occurred
🔹 What happened after Trump?
The Biden administration maintained some tariffs but also reviewed others.
Trade tensions continued, but in a less escalated manner.