trade pending

The Trump tariffs are a series of United States tariffs imposed during the presidency of Donald Trump as part of his economic policy. In January 2018, Trump imposed tariffs on solar panels and washing machines of 30 to 50 percent. In March 2018 he imposed tariffs on steel (25%) and aluminum (10%) from most countries. On June 1, 2018, this was extended on the European Union, Canada, and Mexico. On July 6, 2018, in a separate move aimed at China, the Trump administration set a tariff of 25% on 818 categories of goods imported from China worth $50 billion. After extensive trade talks with China ended without an agreement on May 10, 2019, President Trump raised the tariffs on another $200 billion in Chinese imports from 10% to 25%. China retaliated three days later, announcing new tariffs on $60 billion of American exports. Negotiations in North America were more successful, with the U.S. lifting the steel and aluminum tariffs on Canada and Mexico in May 2019, with them joining Australia and Argentina in being the only nations exempted from the regulations.Morgan Stanley estimated that Trump's tariffs on steel, aluminum, washing machines, and solar panels, as of March 2018, covered 4.1% of U.S. imports. The tariffs angered trading partners, which implemented retaliatory tariffs on U.S. goods. Canada imposed matching retaliatory tariffs on July 1, 2018 before the U.S.'s tariffs were later lifted. China accused the U.S. of starting a trade war and on July 6 implemented tariffs equivalent to the $34 billion tariff imposed on it by the U.S. India plans to recoup trade penalties of $241 million on $1.2 billion worth of Indian steel and aluminium. Other countries, such as Australia, are concerned of the consequences of a trade war.In July 2018, the Trump administration announced it would use a Great Depression-era program, the Commodity Credit Corporation, to pay farmers up to $12 billion. This government assistance program aims to make up a shortfall as farmers lose sales abroad due to the trade war with China and retaliatory tariffs from the European Union and other states.

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