#TrumpTariffs Donald Trump's tariffs have been a significant aspect of his trade policy. The Trump administration utilizes tariffs in three primary ways: as a negotiation tool, a punitive tool, and a macroeconomic tool ¹.

### Tariff Types and Their Impacts

- _Negotiation Tool_: Tariffs are used to pressure trade partners during negotiations, resulting in new trade agreements like the US-China Phase One trade deal ¹.

- _Punitive Tool_: Tariffs are imposed to "punish" or "sanction" countries for non-trade issues, such as national security concerns ¹.

- _Macroeconomic Tool_: Tariffs are used to protect domestic industries, decrease US trade deficits, and increase revenue from duties ¹.

### Recent Developments

President Trump has threatened and imposed sweeping new tariffs, targeting goods imported into the US. Many major US trading partners could be affected ². The tariffs are imposed based on presidential authority under the International Emergency Economic Powers Act (IEEPA) ².

### Countries Affected

Countries facing higher tariffs include Japan (25%), Korea (25%), South Africa (30%), Kazakhstan (25%), Laos (40%), Malaysia (25%), Myanmar (40%), Tunisia (25%), Bosnia and Herzegovina (30%), Indonesia (32%), Bangladesh (35%), Serbia (35%), Cambodia (36