The Trump Tariffs Timeline
🔹 2018:
Steel & Aluminum Tariffs
(25% & 10%) 🔹 2018-2019:
China Tariffs
– $250B worth of imports. 🔹 2018:
Section 301 Tariffs
– Targeting unfair trade practices. 🔹 Retaliation:
Canada, EU, Mexico impose tariffs on U.S. goods
.
Trump’s Tariff Goals
– ✅
Protect U.S. Industries
– Revive domestic manufacturing. ✅
Reduce Trade Deficit
– Target China’s trade imbalance. ✅
Address Unfair Trade Practices
– Combat IP theft.
: Impact on U.S. Economy
⚙️
Job Growth
: Mixed results, some industries gained, others lost. 🛒
Higher Prices
: Electronics, cars, & appliances became costlier. 🌾
Agriculture Losses
: Farmers suffered due to retaliatory tariffs
Impact on Global Trade
🔥
Trade Wars
: China & U.S. tensions escalated. 🔄
Supply Chain Disruptions
: Many U.S. companies struggled. 📉
China’s Economic Slowdown
: Tariffs put pressure on its growth
Expert Insights & Data
📊
$1.4B/month
– Cost to U.S. consumers & businesses (NBER, 2019). 💰
$5.6B
– Losses from steel & aluminum tariffs (U.S. Chamber of Commerce). 📉
0.3% GDP Drop
in 2019 due to tariffs (Peterson Institute).