#Bitcoin2025 #TrumpTariffs
Latest News Trump's tariffs,
US President Donald Trump has been making headlines with his tariff policies. Here are some key developments ¹ ² ³:
- *Trump's Tariff Decision on EU Goods*: Trump has agreed to extend the deadline for imposing 50% tariffs on European Union goods until July 9, following a "very nice call" with EU Commission President Ursula von der Leyen. The EU had requested more time to reach an agreement, and Trump has accepted this request.
- *Impact on Companies*: Several major companies, including Adidas, Shein, Walmart, and Best Buy, are planning to raise their prices due to Trump's tariffs on Chinese imports. Adidas expects cost increases to lead to price hikes, while Walmart anticipates price changes by the end of May.
- *Trade War Fears*: Trump's threat to impose tariffs on EU goods had raised concerns about a potential trade war, causing global market fluctuations. However, the temporary reprieve has eased some of these concerns.
- *Global Economic Implications*: The tariffs could have significant implications for global trade, with potential effects on supply chains, manufacturing, and economic growth. Trump's policies aim to promote American manufacturing and reduce trade deficits.
- *Recent Tariff Actions*: Trump has imposed a baseline tariff rate of 10% on all imports into the US and a 30% tariff on imports from China. These tariffs are part of a broader effort to address trade imbalances and promote American economic interests.
Some specific examples of price increases due to tariffs include ²:
- *Adidas*: Expecting price hikes due to higher tariffs, with CEO Bjørn Gulden stating that cost increases will eventually cause price increases.
- *Shein*: Increasing prices, with a bathing suit set rising from $4.39 to $8.39, a 91% increase.
- *Temu*: Implementing price adjustments due to changes in global trade rules and tariffs, with a pair of patio chairs increasing from $61.72 to $70.17.
- *Walmart*: Anticipating price changes by the end of May, with CEO Douglas McMillon stating that tariffs are "too high"
