#TrumpTariffs Trump's tariffs refer to the trade restrictions imposed by former US President Donald Trump on imported goods from various countries, including China, Canada, and Mexico. These tariffs aim to protect domestic industries, raise revenue, and promote American manufacturing.¹

Key Tariff Proposals and Actions

- *Universal Tariff*: Trump proposed a 10% to 20% tariff on all imports from foreign countries.

- *China Tariffs*: Trump imposed a 25% tariff on $200 billion worth of Chinese goods, with plans to increase it to 60% or higher.

- *Steel and Aluminum Tariffs*: Trump imposed 25% tariffs on steel and aluminum imports, affecting countries like Canada, Mexico, and the European Union.

- *Automotive Tariffs*: Trump imposed 25% tariffs on imported cars and key parts, effective April 2, 2025.²

Impact and Reactions

- *Economic Concerns*: Experts predict higher costs for Americans, reduced economic growth, and potential job losses.

- *Retaliatory Measures*: Countries like Canada, Mexico, and the European Union have imposed or plan to impose retaliatory tariffs on US goods.

- *Trade Agreements*: Trump's tariffs may affect trade agreements like the USMCA (United States-Mexico-Canada Agreement).

Current Developments

- *New Tariff Regime*: The Trump administration unveiled a new tariff regime on April 2, 2025, with a baseline additional tariff of 10% on US imports from all countries.

- *Exceptions*: Some goods, like bullion, energy, and minerals, are exempt from the tariffs.