Trump Increases Tariffs on China – What Are the Potential Impacts
Former US President Donald Trump has announced that if he returns to power, he intends to raise tariffs on imports from China. This is a significant move with potential effects on global trade, and it's important to understand the possible consequences for different sectors. --- What Is a Tariff? A tariff is a tax or duty imposed on imported goods. The primary goal is to make foreign goods more expensive, thereby encouraging consumers to buy domestically produced items. Tariffs are often used by governments to protect local industries. In the case of Trump’s proposed tariff increase on Chinese imports, this would make Chinese products more expensive for consumers in the United States. --- Key Points from Trump’s Announcement Trump believes that China’s trade practices are unfair. He claims that US industries and jobs are at risk due to these trade practices. His proposed plan includes a “universal baseline tariff,” meaning a tariff would be applied to all imported products. --- Wha...