#TrumpTariffs

✨The Trump Tariffs: A New Era of Trade Restrictions✨

US President Donald Trump has been making waves in the global economy with his sweeping new tariffs targeting goods imported into the US. The tariffs, imposed under the International Emergency Economic Powers Act (IEEPA), aim to protect American interests and combat issues like illegal immigration and the opioid crisis.

✨Key Tariff Measures✨

1- Tariffs on Steel and Aluminum:

A 25% tariff on all US steel and aluminum imports, effective March 12, 2025, with no country exemptions or product exclusions.

2- Tariffs on Cars and Parts:

A 25% tariff on all imported cars and key parts, effective April 2, 2025, with potential tariffs on non-US content under the USMCA.

✨Tariffs on Canada, Mexico, and China✨

1- Canada and Mexico:

25% tariff on imports, with a 10% tariff on Canadian energy resources.

2- China:

10% additional tariff on imports, increasing existing tariffs to 20% above January levels.

✨Global Response✨

1- The European Union has announced retaliatory tariffs on roughly €26 billion of US goods exports.

2- Canada plans to impose tariffs of 25% on $107 billion worth of US goods.

3- China has announced tariffs of up to 15% on US agriculture goods.

✨Economic Impact✨

Experts expect the tariffs to curb growth and stoke inflation, with the full scale of the economic impact dependent on retaliatory measures. The Trump administration's new tariff regime has triggered a global sell-off in equities and US Treasuries, tanking financial markets worldwide.