What to know about Trump’s tariffs

On Wednesday of this week, President Trump announced the latest tariffs – on imported vehicles and parts – that he is imposing on U.S. trading partners to end what he claims has been decades of America “being ripped off” and to, in theory, level the playing field.

Here is a summary of the tariffs he has called for and/or already imposed since taking office in Jan.:

PRODUCTS FROM CANADA AND MEXICO

Within days of his inauguration, Trump threatened Mexico and Canada with 25 percent tariffs, saying their imposition would depend, in part, on their willingness to provide more border security and reduce the amount of fentanyl entering the U.S. from the respective nations. The tariffs were originally scheduled to be implemented on Feb. 4 but were delayed one month and went into effect on March 4. In retaliation, Canada implemented 25 percent tariffs on $20 billion ($30 billion CAD) in U.S. goods. According to reports, on March 6, Trump exempted imports covered by the United States-Mexico-Canada Agreement (USMCA) trade deal, totaling about 38 percent of imports from Canada, until April 2. He also lowered the tariff on non-USMCA potash, a fertilizer used in farming, to 10 percent.

ALL CHINESE IMPORTS 

On Feb. 1, Trump used an executive order to put new 10 percent tariffs on all Chinese imports, which went into effect three days later. He then doubled that to 20 percent in early March. China retaliated by imposing a 15 percent tariff mainly on U.S. food and agriculture products, including chicken, wheat, corn and cotton, along with a 10 percent tariff on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products—the latter going into effect March 10.

STEEL AND ALUMINUM 

On March 12, the U.S. imposed 25 percent tariffs on all global imports of steel and aluminum. The European Union (EU) has threatened retaliatory tariffs on approximately $28 billion of U.S. exports. That is currently on hold until April 13; it’s reported that impacted items would include blue jeans, bourbon, and Harley-Davidson motorcycles.

IMPORTED CARS

The 25 percent tariff on imported automobiles is slated to begin April 3, with tariffs on car parts like engines and transmissions in domestically assembled vehicles starting "no later than May 3," according to the executive order. The White House claims these tariffs will generate $100 billion in tax revenue, as approximately half of the 16 million cars purchased by Americans in 2024 were imported. Auto industry analysts say the tariffs will bump up the cost of nearly all vehicles, since, even if they’re not imported, they all are made with imported parts.