$BTC Donald Trump's administration implemented significant tariffs, primarily aiming to protect American industries and reduce trade deficits. Key tariffs included those on imported steel (25%) and aluminum (10%), expanded to various countries including the EU, Canada, and Mexico. A major focus was on China, leading to a protracted trade war with escalating duties on a wide range of Chinese goods.

The impacts were multifaceted. While intended to shift production back to the U.S. and make foreign goods more expensive, economists widely noted that U.S. consumers and businesses often bore the cost through higher prices. The tariffs also caused global trade uncertainty, disrupted supply chains, and triggered retaliatory tariffs from other nations, impacting various sectors and potentially slowing global economic growth.