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The Trump administration has reactivated its unilateral tariffs, applying a general 10% on all imports and supplementary rates that reach up to 145% on Chinese products, 25% on steel, aluminum, and automobiles, and 50% on EU goods. Meanwhile, an appeals court has allowed these levies to remain in effect while the legal process advances. The controversial policy generates record tax revenue —more than $156 billion in 2025— but will also translate into rising prices for consumers and a loss of ~$2,900 in real income per household. Globally, the impact is being felt: global economic growth has been revised downward, and some small businesses are already facing worsening inflation and supply chain tensions.