#TrumpTariffs The Trump tariffs, implemented during Donald Trump's presidency, have had significant economic impacts. These tariffs were imposed on various countries, including China, Canada, Mexico, and the European Union, affecting a wide range of products, from steel and aluminum to autos, semiconductors, and pharmaceuticals ¹.

*Key Tariff Policies:*

- _IEEPA Fentanyl Tariffs_: 10% to 25% tariffs on China, Canada, and Mexico in response to fentanyl trafficking concerns.

- _"Reciprocal" Tariffs_: 10% to 50% tariffs on most US trading partners, excluding Canada, Mexico, and China.

- _Section 232 Steel and Aluminum Tariffs_: 25% tariffs on steel and aluminum imports from most countries.

- _Section 232 Auto Tariffs_: 25% tariffs on auto imports from most countries ¹.

*Economic Impacts:*

The tariffs have led to higher prices for US consumers, reduced economic growth, and job losses. According to the Tax Foundation, the tariffs will reduce long-run US GDP by 0.7% and lead to a loss of approximately 685,000 full-time equivalent jobs ¹.

*Revenue Effects:*

The tariffs are expected to generate significant revenue for the US government. On a conventional basis, the tariffs are estimated to raise $2.1 trillion over the next decade. However, when incorporating the negative effects of the tariffs on the US economy, the revenue estimate drops to $1.4 trillion ¹.