Since taking office in January, President Donald Trump has unleashed a wave of tariffs, creating a highly uncertain and volatile environment for brands and retailers to navigate.

This FAQ will be updated with the latest tariff news, and address the impact tariffs will have on consumer spending, retailers' operations and supply chains, North American economies, and global trade.

What tariffs are currently in effect?

• The US and China agreed to reduce tariffs for 90 days. During that period, Chinese imports to the US will be subject to a 30% tariff, while US imports to China will face 10% duties. That's down from 145% and 125%, respectively.
• Smartphones, computers, semiconductors, and other electronics are currently exempted from reciprocal tariffs on China. But they are subject to the 20% "fentanyl tariff," imposed by the Trump administration over the country's alleged failure to curb drug trafficking, and will face separate tariffs at a yet-to-be-determined date.
• The president announced a 90-day pause on reciprocal tariffs on Mexico, leaving in place a 25% tariff on all goods not covered under the USMCA, and a 17% tariff on Mexican tomato imports.
• Tariffs on Canadian imports not covered by the USMCA have been raised to 35%.
• Tariffs on all imports from Mexico and Canada have been paused for all goods that fall under the USMCA treaty; that pause applies to roughly 50% of goods imported from Mexico, and 38% of those imported from Canada.
• 50% tariffs on all steel and aluminum imports have taken effect, as has a 50% tariff on copper, which applies to semi-finished products.
• Tariffs of 25% on imported autos are in effect, as are 25% tariffs on auto parts. Automakers that pay the 25% auto import tariff are exempt from additional levies on certain goods, including steel, aluminum, and some imports from Canada and Mexico. They may also receive some tariff relief on imported component costs over the next two years. Tariff rates also vary for automakers in countries with trade agreements with the US; for example, auto imports from Japan, South Korea, and the EU will only be subject to 15% duties.
• Countries importing Venezuelan oil and gas are now subject to a 25% tariff—which will affect China, the largest importer of Venezuelan crude, as well as Spain and India.