$BTC

the “Trump Tariffs” (aka “Liberation Day” tariffs) rolled out starting April 2025:

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📅 What happened (Timeline)

April 2, 2025: Trump’s “Liberation Day” executive order imposed a 10% baseline tariff on almost all imports, with higher “reciprocal” rates targeting ~60 countries .

Steel & Aluminum: Section 232 levies raised from 25 % to 50% on most countries (not U.K.) effective June 4 .

Legal Challenge: A trade‑court blocked the tariffs in late May as overreach under emergency powers; the Biden appeals court has paused that block pending further review .

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🔍 Main impacts

💰 Revenue & Economy

Expected to raise $156 billion in federal revenue this year (~0.5 % of GDP) .

However, models (Penn Wharton & Yale) warn of 6% GDP loss, 5% lower wages, and $22K lifetime loss per household, even larger than for similar tax hikes .

The World Bank and IMF forecast global growth dips—with the U.S. growth outlook cut (~1.4–1.6% for 2025) .