#TrumpTariffs Trump's tariffs are taxes imposed on imported goods, impacting US trade policies. The Trump administration uses tariffs in three primary ways ¹:

- *Negotiation Tool*: To pressure trade partners during negotiations and secure new trade agreements.

- *Punitive Tool*: To "punish" or "sanction" countries for unfair trade practices or non-trade issues.

- *Macroeconomic Tool*: To protect domestic industries, decrease US trade deficits, and increase revenue.

Some key effects of Trump's tariffs include ²:

- *Increased Revenue*: Trump's tariffs would raise $2 trillion in revenue over the next decade.

- *Economic Impact*: Tariffs would reduce US GDP by 0.8% and increase taxes for US households by $1,183 in 2025.

- *Retaliation*: Countries like China, Canada, and the EU have imposed retaliatory tariffs on US exports.