#TrumpTariffs
What’s new regarding Trump’s tariffs?
• Tariffs on goods from 14 countries
Trump recently announced the imposition of tariffs ranging from 25% to 40% on products from 14 countries, including Japan, South Korea, South Africa, and Tunisia, effective from August 1, 2025, unless suitable trade agreements are reached  .
• Expansion of steel and aluminum tariffs
Started on June 4, 2025: tariffs were doubled from 25% to 50% on steel and aluminum imports from all countries (except the UK remains at 25% temporarily) (). On June 13, they were expanded to include metal content in household appliances automatically ().
• Significant economic implications
• A source from JPMorgan estimates that these tariffs could cost American companies (especially medium-sized ones) around $82.3 billion, which will ultimately be borne by consumers .
• According to Barron’s and CFR, car prices could rise by up to 15%, with more than $2000 added to the cost of producing a single car due to steel tariffs .
• Many economists warn that the 50% tariffs on steel and aluminum could harm industrial and construction sectors, with broader effects on inflation and economic growth ().