Since taking office in January, President Donald Trump has unleashed a wave of tariffs, creating a highly uncertain and volatile environment for brands and retailers to navigate.
This FAQ will be updated with the latest tariff news, and address the impact tariffs will have on consumer spending, retailers' operations and supply chains, North American economies, and global trade.
What tariffs are currently in effect?
As it stands, the Trump administration has imposed an additional 20% tariff on imports from China.
A 25% tariff on all imports from Mexico and Canada has been paused for all goods that fall under the USMCA treaty; that pause applies to roughly 50% of goods imported from Mexico, and 38% of those imported from Canada.
25% tariffs on all steel and aluminum imports have taken effect, triggering retaliatory tariffs from the EU on €26 billion ($28.1 billion) worth of US goods.