Trump’s Tariffs—A Closer Look at Who Pays and How

Let’s take a look at some of the inner workings of a centuries-old trade mechanism.

U.S. President Donald Trump holds up a chart of "reciprocal tariffs" in the Rose Garden at the White House in Washington on April 2, 2025. Chip Somodevilla/Getty Images

Since President Donald Trump’s return to the White House, tariffs have been the centerpiece of the administration’s economic agenda.

In addition to his global sweeping tariff plans announced on April 2, the president has also imposed levies on automobiles, aluminum, copper, and steel.