On August 7th, President Donald Trump’s new tariffs on imports from more than 90 countries took effect. Goods from around the globe now face rates ranging from 10% to 50%, pushing the effective U.S. tariff rate above 17%, the highest Americans have paid on foreign products since the Great Depression. This latest round of tariffs sharply escalates trade tensions and could mark the most significant shift in the global economy in nearly a decade. Learn how this sweeping policy change impacts countries worldwide, international retailers, and U.S. consumers, and why tariffs are being used in the first place.
