#TrumpTariffs

The US has imposed a 10% baseline tariff on almost all countries, with higher "reciprocal" tariffs paused for 90 days on most countries, except for China.

China Tariffs: The US and China agreed to a 90-day suspension and reduction of tariffs starting May 12, 2025. US tariffs on Chinese goods were lowered from 145% to 30%, while China reduced its tariffs on US goods from 125% to 10%.

Automobile Tariffs: A 25% tariff on imported cars and auto parts is in effect, with some exemptions for USMCA-compliant countries.

Other Developments:

US-UK Trade Deal: The US and UK announced a trade deal on May 8, 2025, which includes reducing tariffs on UK-made cars from 25% to 10%.

Movie Tariffs: Trump announced a 100% tariff on foreign-made films on May 4, 2025, aiming to protect the US film industry.

Smartphone Tariffs Exemption: Smartphones and some electronics were temporarily exempted from the 145% tariffs on Chinese imports.