When Trump paused his higher April 2 tariffs, he left in place a 10% charge on most trading partners. Separate levies on steel, aluminum and autos remain. And Trump has promised a range of new import taxes on copper, semiconductor chips, pharmaceutical drugs, lumber and aircraft parts — all of which could drive up the total effective tariff rate.

U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.

The recent trade policies under the Trump administration have led to the highest tariff rates faced by American consumers since 1909.