#TrumpTariffs

Donald Trump's tariffs have had a significant impact on the US economy and trade relationships with other countries. During his presidency, Trump imposed tariffs on thousands of products valued at approximately $380 billion in 2018 and 2019. These tariffs were imposed on countries like China, Canada, and Mexico, and were aimed at protecting US industries and reducing trade deficits ¹.

Some of the key tariffs imposed by Trump include:

- *Tariffs on China*: 10% to 25% tariffs on Chinese goods, including electronics, machinery, and furniture.

- *Tariffs on Canada and Mexico*: 25% tariffs on steel and aluminum imports from these countries.

- *Tariffs on the European Union*: 25% tariffs on EU goods, including automobiles and agricultural products.

These tariffs have had several consequences, including:

- *Increased costs for US businesses and consumers*: Tariffs have raised the prices of imported goods, making them more expensive for US businesses and consumers.

- *Retaliation from other countries*: Countries affected by Trump's tariffs have imposed their own tariffs on US goods, leading to a trade war.

- *Impact on US economy*: Tariffs have reduced US economic output by 0.4% and have led to a loss of 309,000 full-time equivalent jobs ¹.

Overall, Trump's tariffs have been a highly controversial and complex issue, with both supporters and critics arguing about their effectiveness and impact.