Donald Trump has introduced tariffs on goods coming into the US from most countries around the world. The US president argues that the taxes will boost domestic manufacturing and create jobs. But critics have warned of higher prices for consumers and damage to the global economy.

WASHINGTON, DC - MARCH 26: U.S. President Donald Trump displays a signed an executive order in the Oval Office of the White House on March 26, 2025 in Washington, DC. President Trump announced 25% tariffs on all foreign-made cars. (Photo by Win McNamee ...

Tariffs can play multiple roles: they have traditionally been used as instruments of trade policy, and the Trump administration has increasingly employed them as foreign policy tools to extract concessions from other countries. Although tariffs have seldom ...