Upon returning to office, U.S. President Donald Trump has launched numerous tariff threats. They range from broad ones - a universal tariff on foreign-imported goods - to ones aimed at specific sectors,

Trump has repeatedly insisted that tariffs are coming on Canada and Mexico, despite both countries seeking to address his stated concerns about illegal border crossings and the smuggling of fentanyl. But the Republican president is also motivated by the idea that tariffs would force other countries to “respect” the United States.

A cornerstone of Trump's vision includes a phased rollout of universal tariffs on all U.S. imports. His recently confirmed Treasury Secretary Scott Bessent has been pushing for a modest 2.5% tariff rate that would climb each month, according to a Financial Times report.