#TrumpTariffs

Donald Trump's tariffs are a series of protective tariffs imposed on goods imported into the United States. Here's a breakdown:

Tariff Rates

- *General Tariff*: 10% on all imported goods, effective April 5, 2025

- *Country-Specific Tariffs*:

- *China*: 145% baseline tariff, with China retaliating with a minimum 125% tariff on US goods

- *European Union*: 20-50% tariff, with the EU imposing retaliatory 25% tariffs on US goods like almonds and yachts

- *Japan*: 24% tariff

- *Taiwan*: 32% tariff

- *Vietnam*: 46% tariff

- *Steel and Aluminum Tariffs*: 25% global tariff, effective March 12, 2025

Impact

- The average effective US tariff rate rose from 2.5% to an estimated 27% between January and April 2025, the highest level in over a century

- As of May 2025, the average effective tariff rate is 17.8%

- The tariffs are expected to impact nearly all goods imported into the US, with Trump's second administration exceeding $1.4 trillion in tariffs by April 2025.

Reactions

- *Global Trade Partners*: Many countries, including Canada, Mexico, and China, have retaliated with their own tariffs on US goods

- *Federal Reserve*: Warned that Trump's tariffs may raise inflation

- *US Trade Partners*: Sent Asian markets lower due to uncertainty and concern over trade wars.