Here are some of the latest tariff news and developments:

Recent Tariff Actions

- *US Tariffs on Chinese Imports*: The US has imposed a minimum 145% tariff on Chinese imports, escalating an ongoing trade war. China has retaliated with a minimum 125% tariff on US goods and restricted exports of rare earths critical to high-tech industries.

- *US Tariffs on Steel and Aluminum*: The US has imposed 25% tariffs on all steel and aluminum imports, aiming to strengthen domestic production. The tariffs expanded Trump's first-term steel and aluminum tariffs by eliminating all exemptions and raising the aluminum tariff from 10% to 25%.

- *US Tariffs on Automobiles and Auto Parts*: The US has imposed a 25% tariff on all imported cars, including those from Mexico and Canada. Economist Arthur Laffer estimated car prices would increase by $4,711 due to the tariffs.

Upcoming Tariff Changes

- *De Minimis Exemption Closure*: The US has closed the de minimis exemption for China, effective May 2. Imports shipped via the Universal Postal Union will be subject to a duty of 120% of the shipment's value or $100 per package.

- *Digital Sales Tax Investigation*: The US Trade Representative has initiated an investigation into digital service taxes, potentially leading to retaliatory action against countries with such taxes.

Reactions and Impact

- *Stock Market Crash*: The announcement of new tariffs triggered a stock market crash, with the Trump administration's reciprocal tariff formula being criticized by economists.

- *GDP Growth Projections*: The tariffs have contributed to downgraded GDP growth projections by the Federal Reserve and OECD, with rising expectations of a recession ¹.#BTCNextATH #DigitalAssetBill