#TrumpTariffs 🇺🇸 Trump's Tariff Policy (Brief Overview)

Goal: To reduce the U.S. trade deficit and protect American industries, especially manufacturing.

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📌 Key Actions (2018–2020):

1. China Tariffs (Trade War):

Imposed tariffs on hundreds of billions of dollars of Chinese goods.

Aimed to push China to change its trade practices (IP theft, forced tech transfers).

China retaliated with tariffs on U.S. exports.

2. Steel & Aluminum Tariffs:

25% on steel, 10% on aluminum (March 2018).

Justified under national security grounds (Section 232).

Hit allies like Canada, EU, and Mexico before some exemptions.

3. Tariffs on EU, Mexico, Canada:

Temporary tariffs during NAFTA renegotiations.

Led to the USMCA (United States-Mexico-Canada Agreement) replacing NAFTA.

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📉 Impact Summary:

Short-Term: Boosted some U.S. industries but hurt others (like agriculture and manufacturing dependent on imports).

Prices rose on consumer goods.

Global tensions increased, especially with China.

Mixed economic impact—some jobs protected, but others lost due to retaliation and higher costs.