The tariffs imposed by Donald Trump’s second presidency take effect, applying to nearly all goods imported into the United States. The weighted average tariff on US trade has risen from 2% to approximately 24%, the highest level in over a century. Trump escalates the ongoing trade war with China, raising the base tariff on Chinese imports to an effective 145% after April 9, 2025. He launches a new trade war with Canada and Mexico by imposing a 25% tariff on most goods from these countries. He also imposes a 25% tariff on steel, aluminum, and automobiles imported from all countries. On April 2, a day he calls “Liberation Day,” Trump signs an executive order imposing a minimum 10% tariff on all US imports starting April 5. Higher tariffs on imports from 57 countries, ranging from 11% to 50%, were due to take effect on April 9 but will be suspended almost immediately for 90 days for all countries except China. The 10% tariff remains in effect.
