#TrumpTariffs

Former President Donald Trump’s tariffs have been a major point of contention, with recent legal challenges questioning their legitimacy. His “Liberation Day” tariffs, imposed in April 2025, set a baseline 10% tariff on imports, with higher rates for specific countries, including China at 145%.

Key Developments:

Legal Challenges – Small businesses have sued, arguing Trump exceeded his authority by invoking the International Emergency Economic Powers Act (IEEPA).

Trade Truce with China – The U.S. and China agreed to slash tariffs, reducing U.S. duties on Chinese goods from 145% to 30%, while China lowered its tariffs on U.S. imports from 125% to 10%.

Economic Impact – The tariffs disrupted global trade flows, affecting companies like Boeing, which saw a decline in deliveries to China