Trump’s Tariffs refer to the trade policies implemented by former U.S. President Donald Trump during his administration, particularly from 2018 onward. These tariffs involved the imposition of taxes on imported goods from various countries, primarily targeting China. The aim of these tariffs was to protect American industries, promote domestic manufacturing, and reduce trade deficits. The tariffs covered a wide range of products, including steel, aluminum, electronics, and consumer goods. Trump’s administration argued that these measures would level the playing field for American workers and address unfair trade practices. However, critics contended that the tariffs could lead to increased prices for consumers and retaliatory measures from trading partners, potentially escalating into trade wars. The implementation of these tariffs marked a significant shift in U.S. trade policy, moving away from free trade agreements and towards a more protectionist approach.
Japan's yen fell sharply following President Trump's announcement of a 25% tariff on steel and aluminum imports. Speculation about a Bank of Japan interest rate hike led to a rise…