Trump tariffs

Answering your questions about President Trump’s vast new tariffs

The false things Trump said about tariffs during his announcement

Four Republicans help Democrats pass measure to end Canadian tariffs 

CNN - President Trump’s new auto tariffs went into effect at 12:01 a.m., which means a 25% tariff on all cars shipped to the US. The Trump administration also plans to roll out a 25% tariff on imports of auto parts no later than May 3. Mexico, Canada, South Korea, Japan and Germany will be the countries most affected by these tariffs. However, since domestic vehicles contain imported parts, it will also cost more to build cars in the US. What does that mean for car buyers? Fewer cars to choose from and higher prices. Used vehicle prices will also climb. While some US automakers may offer temporary discounts to woo consumers to buy American, industry analysts say the tariffs on imported car parts could increase the price of cars made in the US by anywhere from $4,000 to $12,000. 

How the World’s Reacting to Trump’s Latest Tariffs

The full list of Trump's new tariffs  

Jessica Riedl, senior fellow at the Manhattan Institute, MSNBC - Donald Trump’s describing his new tariff announcement as “Liberation Day” is perhaps an apt description of his “liberating” families from their wallets. 

After all, Trump inherited a growing (if imperfect) economy that just 10 weeks later is facing collapsing consumer confidence, paralyzed business investment, rising prices, deepening job losses and a cratering stock market. Business cycles will inevitably bring occasional downturns, but this economic decline has the rare attribute of being entirely self-inflicted by the current president.

The president inexplicably claims that tariffs will somehow cut off imports while also raising trillions of dollars from taxing these imports that no longer exist.

The president’s minimum global tariff rate of 10% and country-specific rates as high as 50% are nearly impossible to justify. They are not designed to retaliate against unfair trading practices. The European Union, whose 1.3% average tariff rate is slightly below America’s pre-2025 rate of 1.5%, would be hit with a 20% tariff. Japan’s 1.6% average tariff rates would be answered with America’s 24% tariff. Canada and Mexico, which have followed U.S.-led trade deals, are nonetheless expected to be soon transitioned to these full rates, too. Tariffs on China would reach 54% when combined with earlier policies.

Nor are the White House tariff rates based on relationships with the U.S. The tariff rates on the European Union (20%), Japan (24%) and Israel (17%) are more punitive than the tariff on Iran (10%). Russia — from whom America still purchases some imports — is also protected from above-minimum tariffs. There is no coherent strategy behind these country-by-country tariff rates.