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#TrumpTariffs President Trump's tariffs are a key aspect of his economic policy, aiming to protect American industries and workers. Here's a breakdown ¹ ² ³:

- *Countries Affected*: Trump has sent letters to various countries, outlining impending tariff rates effective August 1. Some of the countries include ²:

- *Japan*: 25%

- *South Korea*: 25%

- *South Africa*: 30%

- *Kazakhstan*: 25%

- *Laos*: 40%

- *Malaysia*: 25%

- *Myanmar*: 40%

- *Indonesia*: 32%

- *Bangladesh*: 35%

- *Serbia*: 35%

- *Cambodia*: 36%

- *Thailand*: 36%

- *Product-Specific Tariffs*:

- *Steel and Aluminum*: 50% tariff on steel and aluminum imports, aiming to strengthen domestic production

- *Autos and Auto Parts*: 25% tariff on autos and auto parts

- *Copper*: 50% tariff on copper imports, effective August 1

- *Pharmaceuticals*: up to 200% tariff

- *Semiconductors*: 25% or higher tariff

- *Reciprocal Tariffs*: Trump's policy aims to enforce "fair and balanced trade" by imposing tariffs based on the trading partner's tariff rate

- *Impact*: Tariffs have raised $108 billion in net revenue in the previous nine months, comprising 5% of federal revenue. However, critics argue that tariffs could lead to rising costs and falling confidence

- *Trade Agreements*: Trump has reached trade deals with countries like the UK, Vietnam, and the Philippines, aiming to reduce trade deficits and promote American exports

- *Global Trade*: Trump's tariffs have sparked concerns about a global trade war, with potential implications for the economy and international relations.