#TrumpTariffs

Overview of Trump's Tariffs**

- **Definition**: Tariffs are taxes imposed on imported goods, usually calculated as a percentage of the product's value (for example: 10% on a product worth $10 adds $1).

- **Goal**: Trump believes that tariffs protect American jobs, reduce the trade deficit, and exert pressure on trading partners (such as China in fentanyl trade).

- **Scope**:

- **China**: Started at 10% (February 2025), then rose to 145% before a temporary reduction to 30%.

- **Globally**: "Basic" tariffs of 10% on most imports, with higher rates for "violating" countries (such as 20-50%).

- **UK Agreement**: Car tariffs were reduced to 10% (for 100,000 vehicles) and tariffs on steel and aluminum were eliminated.