#TrumpTariffs

### **Trump Tariffs: Overview & Implications**

Former President **Donald Trump** implemented several tariffs during his administration (2017–2021), primarily targeting China but also affecting allies like the EU, Canada, and Mexico. His proposed **2024 campaign** includes even more aggressive trade policies.

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## **Key Trump Tariffs**

### **1. China Tariffs (Section 301)**

- **When:** 2018–2019 (phased in).

- **What:** Up to **25% tariffs** on $370B+ of Chinese goods (electronics, machinery, steel, consumer goods).

- **Goal:** Reduce trade deficit, punish IP theft, and force manufacturing back to the U.S.

- **Result:**

- China retaliated with tariffs on U.S. agriculture (soybeans, pork).

- Some production shifted to Vietnam, Mexico, and India ("reshoring" was limited).

- U.S. consumers and businesses bore higher costs.

### **2. Steel & Aluminum Tariffs (Section 232)**

- **When:** 2018.

- **What:** **25% on steel, 10% on aluminum** (initially global, later exempted allies).

- **Goal:** Protect U.S. metal producers from "dumping" (cheap imports).

- **Result:**

- Brief boost to U.S. steel industry.

- Higher costs for automakers, construction.

- Retaliatory tariffs from EU, Canada, Mexico.

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

- **Tariffs:** Up to **50% on washing machines, 30% on solar panels**.

- **Goal:** Protect U.S. manufacturers (e.g., Whirlpool, First Solar).

- **Result:**

- Short-term price spikes, then production shifted abroad.

### **4. Proposed 2024 Tariffs (If Re-Elected)**

Trump has floated:

- **Universal 10% tariff** on all imports.

- **60%+ tariffs on Chinese goods**.

- **"Ring-fencing"** key industries (cars, tech, pharma).

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## **Economic & Market Impact**

### **Pros:**

✅ **Protected some U.S. industries** (steel, aluminum).

✅ **Forced China to negotiate** (Phase 1 deal in 2020).

✅ **Political appeal** to manufacturing workers.