Bankrate Economic Analyst Looks at Trump's Tariffs

Here are the key developments (as of April 15, 2025):

• Canada and Mexico (25%): As of March, tariffs apply to all goods not compliant with the U.S.-Mexico-Canada Agreement—about one-third of all imports from those countries.
• China: A total of 145% tariffs are in effect across six waves of goods—on top of those introduced during the Trump administration.
• Steel & Aluminum (25%): These tariffs also apply to products with high steel/aluminum content (“derivatives”). Prior company-specific exclusions have been voided, meaning the duty now applies broadly.
• Automobiles: As of April 3, tariffs are in place on all imported vehicles. Auto parts will follow on May 3, affecting manufacturing and repair industries.
• General Imports (10%): A sweeping 10% tariff now applies to nearly all imports worldwide as of April 2.