Overview

• The Trump administration's tariffs include a 10% baseline tax on all imports, with higher rates targeting 185 countries, including a 20% tariff on the European Union.
• Commerce Secretary Howard Lutnick has intensified the defense of the tariffs, accusing the EU of unfair trade practices, particularly restrictions on U.S. beef, poultry, and seafood.
• Lutnick's remarks, including describing American beef as 'beautiful' and European beef as 'weak,' have drawn widespread attention and criticism on social media.
• The European Union has long restricted U.S. beef imports due to bans on hormone-treated meat, though quotas for hormone-free beef have gradually increased.
• Global markets have reacted negatively to the tariffs, with significant declines in major indices and growing fears of economic instability.