#TrumpTariffs Here’s the latest on #TrumpTariffs, a sweeping new wave of U.S. import duties implemented under former President Trump’s second term:

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📌 What’s happening now

Tariff Blitz on 14 Countries: As of July 1, letters were sent to 14 nations—including Japan, South Korea, Malaysia, Thailand, and Laos—threatening tariffs of 25–40% on all imports starting August 1 if no deal is reached .

Universal & Sector-Specific Tariffs: Since April, a 10% “reciprocal” tariff has applied to most imports, with additional duties (e.g. 25% on autos, 50% on steel/aluminum) enacted under emergency authority .

Legal Challenges: A federal trade court ruled in late May that the "Liberation Day" tariffs exceeded executive authority and are permanently blocked—however, other tariffs under trade law (Sections 232/301) remain in effect .

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🧩 Why it matters

Inflation & Consumer Impact: CFO surveys and analysts warn of rising prices and lower revenue, with average U.S. families projected to pay ~$3,800 more annually, significantly burdening middle- and lower-income households .

Manufacturing & Auto Sector Struggle: The ISM manufacturing index remains in contraction (49.0%), hit by tariff uncertainty . Particularly, automakers face 25% duties leading to potential consumer price hikes of $2,000–10,000 per vehicle and slower sales .

Broad Business Disruption: JPMorgan estimates tariffs could collectively cost U.S. firms $82 billion, forcing stockpiling, layoffs, and reduced margins . Companies like Apple, Amazon, GM, Ford, and Stellantis report disrupted operations, shifts in sourcing, and scaling back of forecasts .

Revenue & Economic Growth: Although tariff receipts have already surpassed $100 billion and could hit $156 billion in 2025, economists warn of slowed GDP growth, delayed investments, and elevated recession risk from market volatility .

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🛣️ What Comes Next

Date Event

Aug 1 deadline Tariffs are scheduled to take