#TrumpTariffs "Trump Tariffs" generally refers to the import taxes on goods imposed by Donald Trump's administrations. These tariffs have been a central part of his "America First" trade policy, with stated goals of protecting domestic industries, reducing trade deficits, and gaining leverage in trade negotiations.

Key aspects and impacts of Trump's tariffs:

* Types of Tariffs: These have included broad, across-the-board tariffs on nearly all imports, as well as specific tariffs on goods like steel and aluminum. He has also used "reciprocal tariffs" aimed at matching the tariffs other countries impose on U.S. goods.

* Targeted Countries: China has been a primary target, leading to an escalated trade war. Other countries like Canada and Mexico have also faced tariffs, though some exemptions were later granted under agreements like USMCA.

* Stated Justifications: Trump has cited various reasons, including fighting illegal fentanyl trafficking, addressing trade deficits, and boosting U.S. manufacturing and jobs.

* Economic Impact:

* Increased Costs: Tariffs are taxes paid by importers, which often lead to higher prices for consumers and increased costs for U.S. businesses that rely on imported materials.

* Reduced GDP Growth: Economists and organizations like the World Bank and the Federal Reserve have downgraded GDP growth projections due to the tariffs, citing increased costs, reduced consumer purchasing power, and dampened business investment.

* Retaliation: Tariffs often trigger retaliatory tariffs from other countries on U.S. exports, hurting American businesses and farmers.

* Supply Chain Disruption: The unpredictable nature of the tariffs has created uncertainty for businesses, forcing them to reassess and adjust their supply chains.

* Job Impact: While some argue tariffs protect domestic jobs in targeted industries, research has also suggested direct job losses in manufacturing and additional losses due to retaliatory tariffs.

* Increased Tax Revenue.