China hits back with export controls, Canada and Mexico remain under threat. USPS closes then reopens "de minimis" small package loophole

4.8%. That’s how much the U.S.’ weighted average tariff rate would be if Trump implemented the country-level strategy, Deutsche Bank economists led by Justin Weidner estimated in a Monday note. That’s a 3.3 percentage-point increase from the 1.5% effective rate U.S. imports had in 2022, according to the World Bank.

The president tasked top Cabinet officials to study the matter further before deciding on specifics, a process the White House said could take weeks or months.