$BNB These are increases in customs duties imposed by the Trump administration on a range of foreign imports, particularly from:

China

The European Union

Canada and Mexico (initially)

Some other Asian countries

🎯 Announced Goals:

1. Reduce the trade deficit between America and countries like China.

2. Protect American industries (such as steel, aluminum, and agriculture).

3. Pressure China to change trade practices that America deemed "unfair" such as:

Intellectual property theft

Massive government support for Chinese industries

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📉 Economic Effects:

1. On the American economy:

Higher prices for some goods for the American consumer.

Farmers affected by retaliatory tariffs imposed by China.

Some American companies moved their factories abroad to avoid the tariffs.

2. On China and other countries:

China retaliated with tariffs on American goods such as soybeans.

Global trade affected and tensions increased.