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The first Trump tariffs were imposed by executive order (not by act of Congress) during the first presidency of Donald Trump as part of his economic policy. In January 2018, Trump imposed tariffs on solar panels and washing machines of 30 to 50 percent. [36] He soon imposed tariffs on steel (25%) and aluminum (10%) from most countries.
Trump said the tariffs would be imposed due to Chinese theft of U.S. intellectual property. [126] Trump said his planned tariffs on Chinese imports would make the United States "a much stronger, much richer nation". [127] However, the steps toward imposing the tariffs led to increased concerns of a global trade war. [126]
The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second-largest economy.
Tariffs from both the Biden and Trump administrations have cut an estimated 0.2 percent from the U.S. economy’s total output, according to the Tax Foundation. Who has the power to authorize tariffs?
Trump signed orders on Saturday evening, imposing 25% tariffs on imports from Mexico and Canada (though Canadian energy faces a lower tariff of 10%) and 10% tariffs on goods from China.
[150] President Trump falsely claimed in August 2018 that "because of tariffs we will be able to start paying down large amounts of the $21 trillion in debt that has been accumulated...while at the same time reducing taxes for our people." The tariff revenue is very small relative to the debt, and tariffs are taxes on Americans.
In total, Trump’s previous tariff actions put duties on about 14% of US imports – a relatively small share compared with the across-the-board tariff he had pledged to implement on 100% of ...
In 2018 and 2019, Trump imposed an additional 25 percent tariff on Chinese solar products as part of his broader “Section 301” tariffs on about $300 billion in annual imports.