#TrumpTariffs

Donald Trump's tariff policies have been a cornerstone of his "America First" trade agenda, aiming to protect domestic industries and leverage trade negotiations. These tariffs, notably on steel, aluminum, and a wide range of Chinese goods, have introduced significant uncertainty into the global economy.

Initially, tariffs of 25% on steel and 10% on aluminum were imposed, with additional "reciprocal tariffs" announced on numerous trading partners. While some higher tariff rates were temporarily suspended to allow for trade deal negotiations, a 10% baseline duty has been applied to most US imports, and significant levies on Chinese exports remain.

Economists widely agree that sustained, steep tariffs can lead to higher prices for consumers, increased costs for businesses, and hinder both US and global economic growth. Studies have estimated substantial direct costs for US employers, potentially leading to price hikes, layoffs, or reduced profits. The ongoing uncertainty also discourages investment and can make standard economic policy measures less effective. The impact on global supply chains is also significant, prompting some companies to consider reshoring production.