#TrumpTariffs ### **Trump Tariffs: What You Need to Know**

Former President **Donald Trump** implemented several major tariffs during his administration (2017–2021), primarily targeting China but also affecting allies like the EU, Canada, and Mexico. If re-elected in 2024, he has proposed even **higher tariffs**, potentially exceeding **60% on Chinese goods** and **10% across-the-board tariffs** on all imports.

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## **Key Trump Tariffs & Their Impact**

### **1. China Tariffs (Section 301)**

- **2018–2019:** Imposed tariffs on **$370+ billion** worth of Chinese goods (ranging from **7.5% to 25%**).

- **Targeted Industries:** Electronics, machinery, steel, aluminum, and consumer goods.

- **Goal:** Reduce the U.S. trade deficit, counter intellectual property theft, and pressure China on trade practices.

### **2. Steel & Aluminum Tariffs (Section 232)**

- **2018:** **25% on steel** and **10% on aluminum** from most countries (including EU, Canada, Mexico).

- **Impact:** Boosted U.S. steel production but raised costs for manufacturers (e.g., carmakers).

### **3. Trade Wars & Retaliation**

- **China** retaliated with tariffs on U.S. soybeans, automobiles, and agricultural products.

- **EU & Canada** imposed tariffs on U.S. whiskey, motorcycles, and agricultural goods.

### **4. Biden’s Adjustments (2021–Present)**

- Some tariffs remained, but Biden added **new restrictions on tech (semiconductors, EVs)**.

- Trump has criticized Biden for not being **tough enough** on China.

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## **Trump’s 2024 Tariff Proposals**

If re-elected, Trump has floated:

✔ **60%+ tariffs on Chinese goods** (up from current 7.5%–25%).

✔ **10% universal baseline tariff** on all imports (even from allies).

✔ **"Ring-fencing" key industries** (e.g., cars, tech, energy) with extra protection.

### **Potential Effects of New Trump Tariffs**

✅ **Pros:**

- Could bring manufacturing back to the U.S. ("reshoring").

- Pressure on China to change trade policies.

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