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Trump tariffs. United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau. The Trump tariffs (sometimes referred to in media as the Trump-China trade war) were protectionist trade initiatives during the Trump administration against Chinese imports.
In 2017, the last full year before Trump's tariffs were imposed, America's overall trade deficit was $517 billion. By 2023, it had grown to $785 billion, according to new Census Bureau data .
A promise of an intense trade focus. But the topic Trump returned to again and again was trade. Trump reiterated his plans for tariffs on autos in Tuesday's speech, promising tariffs either at 100 ...
Ag trade deficit. For the past three years, the United States has imported more agricultural products than it exports. USDA estimates that in 2024 the deficit will reach a record $32 billion, up ...
Despite the United States trade deficit with China declining sharply from the record high in 2018, during the Trump presidency the overall deficit increased to the highest level since 2008 as American businesses shifted their imports to other countries to avoid the Trump tariffs. The deficit in goods increased 21% from 2016 to a record high.
United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau. The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries. This has been accompanied by a relatively low ...
Simply put, Trump’s tariffs would lead to higher costs for consumers who buy any imported goods, thereby triggering inflation. Further, these misguided tariffs would ignite a global trade war ...
Former President Trump, meanwhile, has been under pressure for his aggressive tariff proposals, with experts warning they could lead to a tit-for-tat trade war with China, exacerbate inflation, or ...