📉 #TrumpTariffs Update – What You Need to Know (June 2025)
🇺🇸 #TRUMP has imposed 10% tariffs on all imports, with higher rates (up to 50%) on select countries.
🛠️ Steel & aluminum tariffs were doubled to 50%.
📈 U.S. tariff rates are now at their **highest in 100+ years (\~15.1% avg).
⚖️ **Legal status:** Courts are still reviewing the legality of these tariffs. A big decision is expected "July 31".
💰 **Economic impact:**
* Tariffs may raise $156B in revenue
* But could shrink "GDP by 6%" and reduce wages by 5%
* Median families might lose $22K in lifetime income
🌐 **Trade talks:**
* China deal “done” with 55% import tariffs (pending approval)
* Japan & UK in early-stage talks
* Canada & Mexico hit with 25% tariffs (USMCA imports exempt)
📅 **What’s next?**
July 31 could change everything. Markets are watching closely.
