#TrumpTariffs Trump tariffs refer to the taxes imposed by the US government on imported goods from various countries, including China, Canada, Mexico, and the European Union. These tariffs were introduced by former President Donald Trump and have been continued into his second term, starting from 2025.

Key Tariff Rates and Affected Countries

- *China*: 10% tariff on all imports, increasing to 34% in some cases

- *Canada and Mexico*: 25% tariff on non-USMCA imports, reduced to 12% after April 2, 2025

- *European Union*: 20% tariff on imports

- *Other countries*: 10% baseline tariff, with higher rates on 60 trading partners

Economic Impact

The Trump tariffs are expected to ¹:

- *Raise $2.9 trillion in revenue* over the next decade

- *Reduce US GDP by 0.7%* and lower after-tax income by 1.9%

- *Increase costs for US households* by an average of $1,900 in 2025

Retaliation from Other Countries

Countries affected by the tariffs have imposed or threatened retaliatory measures, including ¹:

- *China*: 34% tariffs on $144 billion of US exports

- *Canada*: 25% tariffs on $20.8 billion of US exports

- *European Union*: Tariffs of up to 50% on $8 billion of US exports.