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The first Trump trade war allowed the “ASEAN-6”—Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam—to capture a larger share of global exports in “varied sectors ...
The second Trump tariffs are trade initiatives announced by Donald Trump, the 47th president of the United States, principally in the form of tariffs on imports starting in 2025. Since before becoming president in 2017, Trump has promoted import tariffs to retaliate against countries he believes are "ripping off" the United States.
The Peterson Institute for International Economics estimated that a 25 percent tariff, retained through 2029, would reduce the gross domestic product of the United States by US$200 billion. [9] According to the Budget Lab at Yale University , American households will lose approximately US$1,200 in purchasing power.
Trump's trade war was disastrous for the U.S. almost any way one calculates. Bown reckons that the trade war caused export losses of $119 billion from 2018 through 2021.
In Trump’s estimation, putting tariffs on semiconductors from Taiwan would force chip builders, like TSMC, to construct chip manufacturing plants, or fabs, in the US to avoid having to pay the ...
August 8: The Office of the United States Trade Representative published its finalized list of 279 Chinese goods, worth $16 billion, to be subject to a 25% tariff from August 23. [86] [121] [122] In response, China imposed 25% tariffs on $16 billion of imports from the US, which was implemented in parallel with the US tariffs on August 23. [123]
The comments mark the latest in a number of trade-related threats unleashed by Trump in recent days. Trump said he plans to impose tariffs on imported computer chips without providing details.
The closest parallel to Trump's action was the late president Richard Nixon's use of IEEPA's predecessor law, the 1917 Trading With the Enemy Act, to impose a 10% across-the-board U.S. tariff in ...