By the time you read this article, there’s a chance that President Donald Trump will have changed his policy on tariffs yet again. Since his first day in office this term, Trump has been making plans to tax imported goods from other countries into the U.S., but with each passing day, his plans continue to change.
For example, the tariffs Trump has imposed on imports from China have jumped from 10% to 34%, then up to 104%, 125% and finally 145%, before dropping back down to 30%, all over the course of five months.
After announcing his plan for tariffs back in April—on a day he called “Liberation Day”—Trump put a 90-day delay on the upcoming tariffs in order to encourage other countries to make trade deals, or reciprocal tariff deals, with the U.S. The tariff pause is set to expire Aug. 1.
As Trump goes back and forth about tariffs, businesses across the world brace themselves for impact.
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