#TrumpTariffs Here is a clear summary of the current situation regarding the Trump Tariffs (June 2025):

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📌 Background

Since his return to power, Trump has reimposed a series of tariffs on imports, citing the protection of American industry.

The tariffs target several countries, including China, Canada, Mexico, and Europe.

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🔧 Key tariffs currently in effect

10% on the majority of imports (since April 2025)

25% on automobiles and parts (since May 2025)

30% on Chinese imports (since May 2025)

50% on steel and aluminum (since June 2025)

25% on certain Canadian and Mexican imports outside of USMCA

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⚖️ Ongoing legal disputes

A U.S. trade court ruled in late May that Trump had overstepped his powers by using the IEEPA law.

The tariffs remain in effect temporarily, pending an appeal decision expected by the end of July 2025.

Trump could use other laws (Sections 301, 232, or 122) to circumvent legal blockages.

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🇨🇳 Agreement with China (June 2025)

Preliminary agreement:

55% U.S. tariffs on Chinese products

10% Chinese tariffs on American products

Relief on certain Chinese exports (rare earths, Chinese students in the USA)

The agreement still needs to be formally validated.

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💸 Economic impact

Average tariff increase in the USA: about 15% (up from 2.5% before).

Estimated cost for American households: ~1,200,461,833,463.88 per year.

U.S. inflation: +2.4% year-over-year (May 2025).

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🔮 Next steps

Crucial decision from the appeals court at the end of July.

Congress is considering limiting future presidential powers via the Trade Review Act.

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👉 If you want, I can also provide you with a super short summary or an analysis of the impacts on the global economy. Do you want that?