Trump Tariffs
Trade PolicyImport Taxes / Trade Barriers / Protectionist Measures
/trʌmp ˈtærɪfs/ | Implemented: 2018-2020
Economic Policy
Trade Measure
Expert Insight: The Trump tariffs represent one of the most significant shifts in US trade policy in decades, with global economic implications.
Key Policy Aspects
1Steel and Aluminum Tariffs
25% tariff on steel and 10% on aluminum imports.
25% tariff on steel and 10% on aluminum imports.
2China-Specific Tariffs
Multiple rounds targeting $370 billion in Chinese goods.
Multiple rounds targeting $370 billion in Chinese goods.
3National Security Justification
Implemented under Section 232 of Trade Expansion Act.
Implemented under Section 232 of Trade Expansion Act.
4Retaliatory Measures
China imposed counter-tariffs on US agricultural products.
China imposed counter-tariffs on US agricultural products.
5Phase One Trade Deal
2020 agreement that maintained most tariffs but increased Chinese purchases.
2020 agreement that maintained most tariffs but increased Chinese purchases.
Note: The tariffs were implemented using presidential authority rather than congressional approval, setting a significant precedent.
Economic Impacts
1Domestic Industry Effects
US steel production increased but downstream manufacturers faced higher costs.
US steel production increased but downstream manufacturers faced higher costs.
2Consumer Price Increases
Washing machine prices rose nearly 12% following tariffs.
Washing machine prices rose nearly 12% following tariffs.
3Trade Deficit Changes
US trade deficit with China initially grew before pandemic adjustments.
US trade deficit with China initially grew before pandemic adjustments.
Common Terminology
1Section 301 Tariffs
Applied to Chinese goods for alleged intellectual property violations.
Applied to Chinese goods for alleged intellectual property violations.
2Tariff Exclusion Process
Allowed companies to request exemptions for specific products.
Allowed companies to request exemptions for specific products.
3Trade War Escalation
Multiple rounds of reciprocal tariffs between US and trading partners.
Multiple rounds of reciprocal tariffs between US and trading partners.
4Supply Chain Diversification
Companies shifted production to Vietnam and other Southeast Asian countries.
Companies shifted production to Vietnam and other Southeast Asian countries.
Important: Many Trump-era tariffs remain in effect under the Biden administration, continuing to shape global trade patterns.