Trump’s New Tariffs: What You Need to Know

On April 2, President Trump announced sweeping new tariffs on imports, aiming to boost domestic production but sparking concerns over inflation and trade wars.

Key Measures:
	•	10% universal tariff on all imports (starting April 5).
	•	Higher tariffs for key countries:
	•	China: 54%
	•	EU: 20%
	•	Japan: 24%
	•	Vietnam, Cambodia, Laos, Myanmar: 44-50%
	•	End of duty-free imports under $800 from China & Hong Kong (from May 2), affecting platforms like Temu & Shein.

Potential Impact:
	•	Higher prices for U.S. consumers.
	•	Rising inflation and supply chain disruptions.
	•	Retaliation from affected countries, risking a trade war.

Canada, Mexico, and China are already preparing countermeasures. While the tariffs aim to reduce reliance on foreign goods, they could have major economic downsides.

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