#TrumpTariffs

The "America First" Strategy and Its Global Consequences**

President Donald Trump declared a national emergency on April 2, 2025, imposing a 10% import tariff on *all goods* from every country, with a specific tariff of up to **50%** on countries with significant trade deficits with the U.S. (such as China). The reason: to protect economic security, reduce the trade deficit of 1.2 trillion USD, and demand "reciprocity" in trade.

**Main Impacts:**

- **China** reacts strongly, threatening to retaliate with tariffs of 34-50% and accusing the U.S. of "unilateral bullying."

- **Financial markets** are unstable, with U.S. GDP expected to decline by 0.7% due to rising goods costs.

- **Exemptions:** USMCA goods (Canada/Mexico), pharmaceuticals, and semiconductors are exempt from tariffs.