#TrumpTariffs
2025: Trump doubles down with 50% tariffs on steel & aluminum imports (June 4), up from 25%. Aims to revive US industry, but Canada & Mexico hit hard.
145% tariffs on Chinese goods sparked trade war; later eased to 30% after May deal. China retaliated with 125% tariffs.
Court rulings: May 28, US Court of International Trade deemed "fentanyl" & reciprocal tariffs illegal, but appeals court paused block.
Tariffs raised $68.9B in revenue by May, up 78%, but critics warn of higher prices & inflation. GDP may drop 0.8%.
#TradeWar #Economy