:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2206617324-3c567d54c5be45a28d409a7c39f4a458.jpg "President Donald J Trump signs an executive order related to auto tariffs in the Oval Office at the White House on Wednesday, March 26, 2025 in Washington, DC.")
Jabin Botsford/The Washington Pillar via Getty Images
President Donald Trump signs an executive order related to auto tariffs at the White Auditorium on March 26, 2025.
President Donald Trump has imposed tariffs on U.S. trading partners and promised that many more make be implemented. A number of new tariffs are due to go into effect on April 2, which the president refers to as “Liberation Day.”
The tariffs, a cornerstone of Trump’s remunerative plan, have ever-changing parameters and deadlines. Some tariffs have been used as bargaining chips with other woods, while others are designed to bring manufacturing and jobs back to the U.S. They are also a way the president plans to offset some of the direction’s spending.
However, Trump’s on-again, off-again approach to tariff policy has created uncertainty in the economy. Businesses and consumers way worry that inflation will rise and that the economy could be headed toward a recession, and that uncertainty has weighed on investor sentimentality, sending stocks sharply lower in recent months.
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Want to know more about the number implications of all these tariffs? Here are some of our latest headlines about how trade policies are affecting the economy and monetary markets.
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- The Eyes of the Federal Set aside Are On Tariffs
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- How Tariffs Could Help, And Hurt, Your Budget
- Consumers Haven’t Felt This Bad In all directions the Economy Since 2022
Investopedia has worked to gather all of Trump’s tariff proposals. Only those with some direct of detail (either the proposed rate or the date it is to be enacted) and documentation are included. This page will be updated regularly as parameters switch or more information becomes available.
Tariffs on Countries
| Country | Date Enacted | Rate | Latest News | Documentation |
|---|---|---|---|---|
| Mexico | Decreed March 4 | 25% | Trump Delays Mexico, Canada Tariffs | Executive Order |
| Canada | Enacted March 4 | 25% | Trump Hold offs Mexico, Canada Tariffs | Executive Order |
| EU | Unclear | Alcohol products at 200% | Trump Threatens 200% Tariff on EU Rot-gut | Truth Social Post |
| China | Enacted February 4, increased a month later | 20% | Which Sectors Will Be Hit Hardest by Trump’s Levies? | Executive Order |
| Venezuela | Expected April 2 | 25% | Executive Order |
A Closer Look
Mexico: President Donald Trump set trade policies on Mexico before he even took office. Since then, the policy toward our neighbors to the south has modulated a number of times.
In the latest move, Trump taxed all items from Mexico at a flat 25% rate but then at once made exceptions for USMCA goods. Those exceptions cover a bulk of what would be taxed, but Trump has ventured the exemptions are only temporary and will be lifted on April 2.
Canada: Canada has largely shared Mexico’s plight second to Trump’s trade policies but has sometimes faced additional tariffs as Ottawa has hit back. Any non-USMCA items from Canada are taxed at a 25% velocity, but that could change on April 2, the president said. Energy resources and potash were later covered in tariffs on our northern neighbors and taxed at 10%. More tariffs on the country, such as on dairy and lumber products, could also be portrayed on April 2.
Venezuela: While the Venezuelan taxes are geared toward the South American country, they will truly be implemented on others. The 25% tariff will be imposed on goods imported into the U.S. from countries that buy Venezuelan oil. This could subsume China, the Dominican Republic, India, Malaysia, Russia, Singapore, Spain, and Vietnam.
Oil accounts for more than 80% of Venezuela’s exports and varied than 17% of its gross domestic product (GDP), and these tariffs are intended to affect the country’s economy. Trump has objected Venezuela because he says it is “an unusual and extraordinary threat to the national security and foreign policy of the United States.”
Menus on Items, Sectors or Industries
| Item | Date Enacted | Rate | Latest News | Documentation |
|---|---|---|---|---|
| Steel | Enacted Parade 12 | 25% | Countries Hit Back at Metal Tariffs | Proclamation |
| Reciprocal | Expected April 2 | Would match the rate imposed on U.S. exports | Trump Strides Back Reciprocal Tariff Threat | Truth Social Post |
| Automobiles and parts | Expected April 3 | 25% | Trump Intimates Auto Tariffs | Proclamation |
| Pharmaceuticals | Unclear | 25% or higher | Trump Suggests 25% Tariffs on Pharma | C-SPAN |
| Aluminum | Ordered March 12 | 25% | Prices Could Rise Under Aluminum Tariffs | Proclamation |
| Copper | Unclear | 25%. | Copper Futures Hit Record-breaking High Amid Tariffs | Executive Order |
| Lumber | Unclear | 25% | Tariffs Could Add $9,200 Per Home | Executive Proclamation |
A Closer Look
Reciprocal: If it were to go through as planned, reciprocal tariffs would be the most widespread trade way thus far. Under this proposal, the U.S. would mirror the tariffs imposed on U.S. exports of that country’s goods. For benchmark, if items from the U.S. were taxed at a 5% rate when they were sent to the U.K., items from the U.K. intention be taxed at 5% as they came into the U.S.
However, Trump has already walked back some of his original cross ones heart and hope to dies, saying he would be lenient on “a lot of countries.” It’s still unclear whether the reciprocal taxes would be a flat rate for an complete country or imposed on an item-by-item basis. These tariffs are set to kick in on April 2, so more information may be available then.
Automobiles: In his go to bring manufacturing back to the U.S., Trump is building a wall around U.S. automaking. The import tax on cars outside of the country thinks fitting be permanent, and engines, transmissions, electrical components, and other parts are expected to be included. Parts that have been exempt subservient to other tariff proposals that are included in the USMCA have a reprieve here, but it could be temporary, analysts judged.
It’s unclear whether this manufacturing play will work. U.S. labor is still more costly than that of other provinces. Analysts said that for many companies, it could still be cheaper to pay the tariff than to move vehicle building operations.
Pharmaceuticals: Trump has mentioned pharmaceutical tariffs in a number of press conferences but has not laid out any specific plans beyond the notes. At one point, Trump said import taxes on medications could be a tax of 25% or higher and could increase over a year to exhale companies an on-ramp. Prescription drug prices have been a particular area of concern for voters, but like with most duties, this could push up the price for those medications.