Like the Townshend Acts and Bacon’s Rebellion, tariffs are one of those topics you may vaguely remember from high school history class. Let’s take another look at how tariffs work—and what ...

On February 3, 2025, Trump announced and then delayed a 25% tariff on all Mexican imports. He simultaneously announced 25% tariffs on most Canadian imports, as well as 10% tariffs on Chinese imports.

He said when tariffs go up, it can leave companies stuck with products that suddenly go up in price. President Donald Trump said his tariff plan will help to reverse U.S. trade deficits with ...

U.S. tariff rates vary: They are generally 2.5% on passenger cars, for instance, and 6% on golf shoes. Tariffs can be lower for countries with which the United States has trade agreements.

Payments would also decrease based on household income. The bill’s text says rebates would be reduced based on a taxpayer’s ...

Home Taxes How Tariffs Work and What They Mean for You in 2025 President Donald Trump is raising tariffs on all foreign goods, but how do tariffs work, and who pays?

Tariffs are typically set as a percentage of the price of the goods imported. Example: If a U.S. company imports $100 worth of apples from a country with a 10% tariff, the company will need to pay ...

U.S. tariff rates vary: They are generally 2.5% on passenger cars, for instance, and 6% on golf shoes. Tariffs can be lower for countries with which the United States has trade agreements.

Tariffs have been front and centre in recent times owing to Donald Trump’s Liberation Day tariffs. So what are they and how and how do they work?

Tariffs are typically set as a percentage of the price of the goods imported. Example: If a U.S. company imports $100 worth of apples from a country with a 10% tariff, the company will need to pay ...

Tariffs are typically set as a percentage of the price of the goods imported. Example: If a U.S. company imports $100 worth of apples from a country with a 10% tariff, the company will need to pay ...