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.

Shipping containers are stacked on a cargo ship as they are offloaded in Miami on April 15, 2025. Joe Raedle/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 sweeping global tariff plans announced on April 2, the president has also imposed levies on automobiles, aluminum, copper, and steel.