#TrumpTariffs

Donald Trump's tariffs are a series of trade restrictions imposed on goods imported into the US, targeting major trading partners like Canada, Mexico, China, and the European Union. Here's a breakdown¹:

- *Tariff Rates:*

- *Baseline Tariff:* 10% on US imports from all countries

- *Higher Tariffs:* 10-50% on imports from around 80 countries

- *China:* Tariffs increased to 125% effective immediately

- *Cars and Parts:* 25% tariffs on imported cars and key parts

- *Steel and Aluminium:* 25% tariffs on all US steel and aluminium imports

- *Affected Trading Partners:*

- *Canada:* 25% tariffs on imports, except for energy (10%)

- *Mexico:* 25% tariffs on imports

- *China:* Additional 10% tariffs on imports

- *European Union:* Retaliatory tariffs on roughly €26 billion of US goods

- *Exceptions:*

- *USMCA Deal:* Goods traded under the USMCA deal are exempt from certain tariffs

- *Specific Products:* Bullion, energy, minerals, semi-conductors, pharmaceuticals, copper, and lumber may be exempt or subject to trade investigations

The tariffs aim to protect US industries, but critics argue they could:

- *Increase Inflation:* Higher prices for imported goods may lead to inflation

- *Curb Growth:* Tariffs can reduce economic growth by increasing costs for businesses and consumers

- Escalate Trade Tension* Retaliatory measures from affected countries may lead to further trade restrictions