Former President **Donald Trump** implemented several significant tariffs during his administration (2017–2021), primarily targeting China but also affecting allies like the EU, Canada, and Mexico. His trade policy was based on **economic nationalism** and aimed at protecting U.S. industries, reducing trade deficits, and pressuring other countries to change their trade practices.
### **Key Trump Tariffs**
1. **Steel and Aluminum Tariffs (2018)**
- **25% on steel imports** and **10% on aluminum imports** (under **Section 232** of the Trade Expansion Act of 1962, citing national security concerns).
- Applied broadly, including on allies like the EU, Canada, and Mexico, leading to retaliatory tariffs.
- Later, some exemptions were granted to certain countries.
2. **China Tariffs (Trade War, 2018–2019)**
- Imposed under **Section 301** of the Trade Act of 1974, targeting China’s unfair trade practices (forced tech transfers, IP theft, subsidies).
- **Multiple rounds of tariffs**, eventually covering over **$370 billion** in Chinese goods, with rates ranging from **7.5% to 25%**.
- China retaliated with tariffs on U.S. agricultural and industrial goods.
- **Phase One Deal (2020)** paused further escalation but left most tariffs in place.
3. **Washing Machines & Solar Panels (2018)**
- **20–50% tariffs** on imported washing machines and solar cells (under **Section 201** safeguards).
- Aimed at protecting U.S. manufacturers like Whirlpool.
4. **EU Tariffs (Aircraft & Agricultural Goods, 2019–2020)**
- **25% tariffs** on EU goods (wine, cheese, olives) in response to Airbus subsidies (WTO-approved retaliation).
- Later expanded to include additional products like Scotch whisky and French wine.
### **Impact of Trump’s Tariffs**
- **U.S. Industries:** Some (like steel) benefited, but others (auto, agriculture) faced higher costs and lost exports.
- **Consumers & Businesses:** Higher prices on imported goods, estimated to cost households **$1,300+ per year** (studies vary).
- **Trade Deficit:** Did not significantly shrink; in some cases, deficits with China shifted to other countries.
- **Global Trade Tensions:** Led to retaliatory tariffs and strained relations with allies.
### **Trump’s 2024 Stance on Tariffs**
Trump has proposed even more aggressive tariffs if re-elected, including:
- **10% across-the-board tariff** on all imports.
- **60%+ tariffs on Chinese goods**.
- Possible **revocation of China’s "Most Favored Nation" status**, raising tariffs further.
### **Biden’s Approach (Continuation with Adjustments)**
- Kept most Trump-era tariffs but added **strategic exemptions**.
- Focused on **reshoring semiconductor and clean energy production** (CHIPS Act, Inflation Reduction Act).
- Considering **new tariffs on Chinese EVs, batteries, and tech**.
### **Debate Over Tariffs**
- **Supporters** argue they protect jobs, punish unfair trade, and boost U.S. manufacturing.
- **Critics** say they act as a tax on consumers, spark inflation, and hurt export-dependent industries.