#TrumpTariffs Important information regarding Trump's tariffs is as follows:

*Tariff details:*

- The Trump administration imposed tariffs on steel and aluminum in 2018, which caused price increases for American citizens.

- In 2025, the Trump administration imposed a 10% tariff on China, which was later increased to 20%.

- Additionally, the Trump administration imposed a 25% tariff on India, leading to a decline in American trade with India ¹ ².

*Impact of tariffs:*

- Due to the tariffs, American trade experienced a decline, resulting in a 0.2% decrease in American GDP.

- Due to the tariffs, there was an additional tax burden of 625 dollars for American households.

- Due to the tariffs, there was a beneficial increase in the value of imports amounting to 171.3 billion dollars ³.

*Actions against tariffs:*

- China imposed tariffs on American goods worth 106 billion dollars in response to American tariffs.

- The European Union has also taken actions against American tariffs.#TrumpTariffs #BinanceBlockchainWeek