#TrumpTariffs Trump's tariffs are taxes imposed on imported goods to protect American industries and boost the national economy. During his presidency, Trump imposed several tariffs, including:

- *Tariffs on steel and aluminum*: A 25% tariff on steel and aluminum imports to protect domestic industries and jobs.

- *Tariffs on cars*: A 25% tariff on imported cars and car parts to promote American manufacturing.

- *Tariffs on Chinese goods*: Tariffs ranging from 10% to 145% on various Chinese products, aimed at reducing the American trade deficit and addressing intellectual property issues.

The impact of Trump's tariffs is multifaceted:

- *Increased costs for consumers*: Rising prices of imported goods, which may lead to increased costs for consumers and decreased demand.

- *Economic uncertainty*: Trump's tariffs have increased economic uncertainty, causing businesses and households to delay investment and hiring decisions.

- *Global trade relations*: Trump's tariffs have strained trade relations with countries like China, Canada, and Mexico, prompting them to take retaliatory measures.

Some potential effects of Trump's tariffs on the American economy include:

- *Reduction in GDP*: Estimates suggest a reduction in GDP by between 0.4% and 6.3% by 2054.