#TrumpTariffs Donald Trump has historically advocated for and implemented tariffs as a key component of his trade policy, both during his first presidency and in his current proposals. His stated goals for using tariffs include reducing trade deficits, boosting American manufacturing, protecting jobs, and retaliating against countries he believes are engaging in unfair trade practices.
Here's a breakdown of Trump's tariffs:
Key Proposals and Implementations:
* Universal Baseline Tariffs: Trump has imposed a 10% baseline tariff on all imports to the U.S., which he calls "reciprocal tariffs."
* Steel and Aluminum Tariffs: He has doubled tariffs on steel and aluminum imports to 50%.
* China Tariffs: Trump has significantly escalated tariffs on goods from China, with current duties totaling around 55% when combined with previous tariffs. He has even proposed tariffs as high as 145% on Chinese imports.
* Other Country-Specific Tariffs: He has announced or threatened tariffs on various countries, including Canada and Mexico (25% on certain goods via International Emergency Economic Powers Act - IEEPA authority) and a 10% tariff on the EU.
* Potential Future Tariffs: Trump has pledged even larger tariffs if elected for a second term, including 60% on China, 100% on Mexico, and 20% on all other countries. He has also proposed tariffs to penalize U.S. companies that outsource manufacturing