President Donald Trump’s threats to impose high tariffs on countries make U.S. trading partners and investors nervous. But his sector tariffs could hurt consumers and businesses more in the long run. Trump has doubled tariffs on steel and aluminum imports to 50% under Section 232 rules that permit him to bypass Congress if national security is on the line. He has also announced a 50% tariff rate on copper, and threatened a 200% levy on pharmaceutical imports. U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. Leah Millis | Reuters
As President Donald Trump’s tariffs against more than a dozen countries spark fresh concerns about looming country-specific trade measures, often overlooked are the levies on specific products and commodities that are already in place