🚨TRUMP EFFECT🚨
Trump tariffs are trade policies implemented by US President Donald Trump (2017–2021) to protect domestic industries and curb trade practices deemed unfair, particularly from China.
Key points:
China: Tariffs of up to 25% are imposed on imported goods worth $370 billion. The aim is to force China to change practices such as intellectual property theft.
Steel & Aluminum: Tariffs of 25% and 10% are imposed on national security grounds.
Impact: Import costs rise, US farmers suffer due to retaliatory tariffs from other countries, and global trade tensions increase.
Legacy: Many tariffs remain in place under subsequent administrations.
This policy triggered a global trade war and reinforced the trend of protectionism.