#TrumpTariffs President Trump announced a "done deal" on tariffs with China, fixing the cumulative tariff rate on Chinese imports at 55%, while China imposes a 10% tariff on U.S. goods. Despite the trade deal declaration, industry experts warn that the damage to supply chains and the economy will persist. The tariffs remain in effect as a U.S. appeals court allows them to stay during ongoing legal challenges. This high tariff level, the highest since the 1940s, continues to impact businesses and consumers, with many unable to absorb the costs, ultimately passing them to consumers. #TrumpTariffs #TradeWar #BinanceUpdates