#TrumpTariffs President Trump's tariffs aim to protect US industries, but they also have significant economic implications. Here's a breakdown :

Tariff Increases: Trump's administration has imposed tariffs on various countries, including a 25% tariff on steel and aluminum imports from all countries, and 10% to 50% tariffs on goods from around 80 countries.

Economic Impact: The Tax Foundation estimates that Trump's tariffs will reduce long-run US GDP by 0.8% and increase federal tax revenues by $156.4 billion in 2025. If the International Emergency Economic Powers Act (IEEPA) tariffs are permanently enjoined, the applied tariff rate would rise by 4.7 percentage points to 6.2%.