#TrumpTariffs

Trump Tariffs refer to the trade policies implemented by former US President Donald Trump, which involved imposing tariffs on imported goods from various countries, including China, Canada, Mexico, and the European Union. These tariffs were intended to protect American industries and jobs, but they have had significant economic implications, both domestically and globally.¹ ²

*Key Features of Trump Tariffs:*

- _Tariff Rates:_ The tariffs imposed by Trump ranged from 10% to 25% on various products, including steel, aluminum, autos, and agricultural goods.

- _Affected Countries:_ The tariffs targeted several countries, including China, Canada, Mexico, and the European Union.

- _Economic Impact:_ The tariffs have had a negative impact on the US economy, leading to higher prices, reduced economic output, and job losses. The Tax Foundation estimates that the tariffs will reduce US GDP by 0.4% and lead to a loss of 358,000 full-time equivalent jobs.

- _Retaliation:_ The tariffs have also led to retaliation from affected countries, which have imposed their own tariffs on US goods, further exacerbating the trade tensions.

*Timeline of Trump Tariffs:*

- _2018:_ Trump imposes tariffs on steel and aluminum imports from various countries.

- _2019:_ Trump imposes tariffs on Chinese goods, leading to a trade war between the US and China.

- _2025:_ Trump announces new tariffs on imports from Canada, Mexico, and the European Union, and threatens to impose additional tariffs on China and other countries.