#TrumpTariffs : The tariffs were part of a broader trade policy aimed at protecting American industries and raising revenue. Some key aspects of Trump tariffs include¹:

*Tariff Rates*: The average tariff rate on all imports increased from 2.5% to 16.5%, the highest since 1937.

*Affected Countries*: Countries impacted by the tariffs include China, Canada, Mexico, and the European Union, with varying rates applied to different nations.

*Economic Impact*: The tariffs led to a projected $800 billion decline in imports, a 0.7% reduction in US GDP, and an average tax increase of over $1,900 per US household.

*Retaliation*: Affected countries responded with their own tariffs on US exports, impacting $330 billion worth of goods.