History shows that tariffs to revive U.S. manufacturing, reclaim jobs and counter allegedly unfair trade practices rarely succeed. In today's interconnected world, they're more likely to provoke painful retaliation.

On April 2, 2025, President Donald Trump announced sweeping new tariffs – a 10% levy on nearly all U.S. imports, along with targeted duties aimed at punishing countries he accuses of exploiting American markets.

The White House has taken pains to say administration officials are unified on the tariff effort announced on April 2, which the White House dubbed "Liberation Day."

President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains. “I’m looking at something to help some of the car companies with it,