#TrumpTariffs

"Trump tariffs" refer to the import duties imposed by President Donald Trump on imported goods to the United States.1 The aim is to reduce the trade deficit, encourage domestic manufacturing, and address trade practices deemed unfair.2

During his second term in office, Trump implemented significant protective tariffs, with the average US tariff rising from 2.5% to around 27% by early 2025. This includes a 50% tariff on steel and aluminum, 25% on imported cars, and "reciprocal tariffs" that vary for many countries, such as 32% for Indonesia, 25% for Japan and South Korea, and 40% for Myanmar and Laos.3

This policy triggered global trade uncertainty and often led to other countries imposing retaliatory tariffs, potentially sparking a trade war.