Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

Donald Trump has dubbed Wednesday April 2, 2025, "Liberation Day." What is it, and how does it apply to tariffs in the United States?

All U.S. imports face a baseline 10% tariff, effective Saturday. + Higher rates will apply to partners judged "bad actors" on trade. For example, Japan faces a 24% duty and the European Union faces a 20% levy,

President Trump rolled out new tariffs on April 2 aimed at easing trade imbalances. Here's which products could become more expensive as a result.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

Some countries are promising swift countermeasures; others are asking for an opportunity to negotiate with the U.S. to avoid trade war.

Today’s Forbes Daily newsletter covers Wall Street souring on Trump, the biggest billionaire tariff losers, DOGE cuts worsen March layoffs and more.

Get caught up.

Here's how Trump's latest tariffs could impact mortgage rates and homebuilding costs in a market that's already fraught with affordability woes.