Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.

The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States.

For investors, the risk now is that the slow drip of news on tariffs leads to complacency about the damage they might cause-the Nasdaq stock index closed a record high yesterday.

President Donald Trump is readying plans for industry-specific tariffs to kick in alongside his country-by-country duties in two weeks, ramping up his push to reshape the US’s standing in the global trading system by penalizing purchases from abroad.

The U.S. can either spend taxpayer money to help U.S. businesses export to the world (subsidies) or it can collect taxes so that it has more money to spend (tariffs).

Long before President Trump wielded tariffs as a weapon to punish Indonesia, the country was fighting back a flood of cheap Chinese goods.

After slashing billions in foreign aid, including shutting down the U.S. Agency for International Development, the Trump administration says it is forging a new approach: "commercial diplomacy." Trade,

China's Ministry of State Security says it is cracking down on alleged smuggling of rare earths materials that it says threaten national security.