#TrumpTariffs

🔹 India & China trade tensions

🔹 Cost to U.S. Households

• A new report from the U.S. Congress’ Joint Economic Committee says Trump’s tariffs have cost the average U.S. household nearly $1,200 between Feb–Nov 2025, with total tariff-paid costs around $159 billion — and critics link this to higher inflation and living costs.

🔹 Fed view on inflation

• Federal Reserve Chair Jerome Powell said recent inflation overshoots are largely due to Trump’s import tariffs, though he described this effect as a one-time price increase rather than ongoing sustained inflation.

🔹 Negotiated tariff cuts with Switzerland

• The U.S. and Switzerland agreed to significantly lower tariffs on Swiss goods — from 39 % down to about 15 % — retroactive to Nov 14 2025, easing pressure on Swiss exporters and reflecting some diplomatic give-and-take.

🔹 Regional trade impacts — Mexico & beyond

• Mexico’s Congress approved major tariff increases (up to 50 %) on imports from China, India, and other Asian countries starting Jan 2026 — a move analysts link to U.S. protectionist pressure and broader trade tensions.

• New data also shows U.S. trade deficits shrinking as tariff hikes reshape import patterns.

📌 Recent U.S. Policy Moves & Threats

🍚 Threat of new tariffs on Indian rice and other goods

• Trump has signaled possible additional tariffs on Indian rice imports, accusing India (and others) of “dumping” cheap rice into the U.S. market — though experts say this would mainly affect U.S. consumer prices, not Indian exporters.

↔️ Possible tariff adjustments

• Trump has suggested he may modify or lower tariffs on some products as part of broader economic and inflation strategies.

⚖️ Legal challenges ahead

• The U.S. Supreme Court is expected to soon rule on the legality of many of Trump’s tariffs, a decision that could significantly change the enforcement or scope of these measures.