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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.
Donald Trump has proposed tariffs of 60% on Chinese imports and 10% to 20% on goods imported from all other nations. A new study found the states that would be hardest hit are Republican strongholds.
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.
Asked in 2022 about that apparent contradiction, Biden's top trade official said the administration was unwilling to draw down Trump's tariffs because they were crucial "leverage" that could be ...
Several independent studies have found that if Trump implements an across-the-board tariff and increases duties on Chinese-made goods, it would raise costs for the average middle-class family ...
"Ever since Biden was elected, the trade community had hoped for a reversal of the Trump-era trade tariffs," said Ashley Craig, a D.C.-based international trade lawyer at Venable LLP, in an ...
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]
Hundreds of companies have explained that the tariffs will make their costs rise, which will be passed to consumers. [303] President Trump increased tariffs significantly as part of his trade policies, which are effectively taxes paid by American import businesses, some of which are passed to American consumers in the form of higher prices.