#TrumpTariffs Trump Tariffs: A New Era of Trade Policy
US President Donald Trump has imposed sweeping new tariffs on goods imported from various countries, targeting major US trading partners. The tariffs aim to protect domestic industries, decrease trade deficits and increase revenue. Trump's administration has utilized tariffs as a negotiation tool, punitive measure and macroeconomic strategy.
*Tariff Rates:*
- 25% on steel and aluminum imports from countries like Canada and Mexico
- 25% on Japan and South Korea
- 35% on Bangladesh and Serbia
- 36% on Thailand and Cambodia
- 40% on Laos and Myanmar
The tariffs have sparked concerns about global trade tensions, inflation and economic growth. Some countries, like the UK and Vietnam, have escaped tariffs due to recent trade deals with the US. Others, like India, are negotiating trade agreements to avoid tariffs ¹.