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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.
The Trump tariffs, along with the impacts of COVID-19, were a major factor in declining trade between China and the U.S. in 2019 and 2020. [221]: 142 Trade between the two countries subsequently rebounded significantly, and as of 2021 merchandise trade was down only marginally from its record high in 2018. [221]: 142
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.
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.
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 ...
Writing in The Washington Post, Phillip Bump explained that for Trump's first term as of September 2019, performance on several key variables was comparable or below Obama's second term (January 2013 – September 2016), as follows: 1) Real GDP was up 7.5% cumulatively under Obama, versus 7.2% under Trump; 2) The total number of jobs was up 5.3 ...
The tariffs were supposed to lapse in 2021, but shortly before leaving office, Trump extended them for another two years. They finally expired in January 2023. They finally expired in January 2023.
Trump has said the tariffs will make up for lost revenue: He predicted last week in a keynote address to the annual meeting of the World Economic Forum that the tariffs would bring in hundreds of ...