#TrumpTariffs Key aspects and impacts:

China Trade War: The U.S. imposed tariffs on hundreds of billions of dollars’ worth of Chinese goods, citing intellectual property theft and unfair trade practices. China retaliated with tariffs on American exports, especially agricultural products like soybeans and pork.

Steel and Aluminum Tariffs: In 2018, Trump used national security grounds to impose tariffs of 25% on steel and 10% on aluminum imports. This move aimed to protect U.S. metal producers but raised costs for industries relying on these materials.

NAFTA Renegotiation: The tariffs pressured Canada and Mexico into renegotiating NAFTA, resulting in the USMCA (United States–Mexico–Canada Agreement), which updated trade rules for the modern economy.

Economic Effects: While some U.S. manufacturers benefited from reduced foreign competition, many businesses faced higher input costs. Farmers were hit hard by retaliatory tariffs, prompting the government to issue billions in aid to offset losses.

Global Reactions: The tariffs strained relations with allies and trading partners, leading to disputes at the World Trade Organization (WTO) and prompting some countries to form new trade alliances excluding the U.S.

#BTCVSGOLD #WriteToEarnUpgrade #BinanceBlockchainWeek #Write2Earn.