#TrumpTariffs President Trump has threatened to impose International Emergency Economic Powers Act (IEEPA) tariffs on Canada, Mexico, and China related to fentanyl; national security tariffs on autos, auto parts, steel, and aluminum from all countries; and IEEPA tariffs on all countries related to an economic national emergency at a baseline rate of 10 percent with scheduled increases for more than 50 trading partners later in 2025. The US Court of International Trade ruled in May 2025 that the IEEPA tariffs are illegal.

Under all the imposed tariffs, the weighted average applied tariff rate on all imports would rise to 16.0 percent, and the average effective tariff rate, ref