#TrumpTariffs **Key Trump Tariffs:*

1. **Steel and Aluminum Tariffs (2018)**

- **25% on steel imports** and **10% on aluminum imports** (under **Section 232** of the Trade Expansion Act of 1962, citing national security concerns).

- Applied broadly, including on allies like the EU, Canada, and Mexico, leading to retaliatory tariffs.

- Later, some exemptions were granted to certain countries.

2. **China Tariffs (Trade War, 2018–2019)**

- Imposed under **Section 301** of the Trade Act of 1974, targeting China’s unfair trade practices (IP theft, forced tech transfers).

- **Multiple rounds of tariffs**, eventually covering over **$370 billion** in Chinese goods, with rates up to **25%**.

- China retaliated with tariffs on U.S. agricultural (soybeans, pork) and industrial goods.

- Led to the **Phase One trade deal (2020)**, where China agreed to buy more U.S. goods but fell short of targets.

3. **Washing Machines & Solar Panels (2018)**

- **20-50% tariffs** on imported washing machines and solar panels (under Section 201 safeguards).

- Aimed at protecting U.S. manufacturers like Whirlpool but raised costs for consumers.

4. **Auto Tariffs (Threatened but Not Fully Implemented)**

- Trump floated **25% tariffs on foreign cars** (EU, Japan) but backed down after negotiations.

**Impact of Trump’s Tariffs:**

- **Positive Effects:**

- Some U.S. manufacturers (steel, aluminum) benefited from reduced competition.

- Increased leverage in trade negotiations (e.g., USMCA replacing NAFTA).

- **Negative Effects:**

- Higher costs for businesses and consumers (tariffs often passed on as price hikes).

- Retaliatory tariffs hurt U.S. farmers and exporters.

- Mixed results on trade deficits (U.S. trade gap with China initially grew before declining).

**Trump’s 2024 Stance:**

- Proposing **universal 10% baseline tariff** on all imports and **60%+ tariffs on Chinese goods** if re-elected.

- Aims to reduce reliance on China and boost U.S. manufacturing.