1 day ago · Trump enacting 25% tariffs on Mexico and Canada, 10% tariff on China 02:10. President Trump, an avowed fan of tariffs, authorized a wave of new import duties Saturday on America's three closest ...

20 hours ago · The rationale behind tariffs is straightforward: By making imports more expensive, tariffs make local goods comparatively cheaper and, at least in the short run, more competitive. Like other taxes, tariffs provide income that can be used to support local industries, fund public programs, or cover government expenditures.

1 hour ago · Tariffs have dominated headlines since President Donald Trump took office just over two weeks ago, as he threatened steep, sweeping tariffs on goods the United States imports from its three ...

Jan 27, 2025 · Tariffs are a tax on imports. Tariffs are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. U.S. tariff rates vary: They are generally 2.5% on passenger cars, for instance, and 6% on golf shoes.

1 day ago · The tariff fee of 10 percent or 25 percent is often charged not on the full sticker price of the good you see at the store, but a lower import price that companies pay to buy a good from abroad ...

4 days ago · In 2019, Trump threatened a 5% tariff on all Mexican imports that would rise to 25% if Mexico declined to take action to reduce the number of undocumented immigrants crossing the border with the ...

2 days ago · Tariffs on Canadian energy, though lower than for other imports, could prompt an uptick in prices at the pump, especially in the Midwest, where refineries turn Canadian oil into gasoline and diesel.

What is a tariff and what is its function? A tariff is a tax placed on goods when they cross national borders. The most common type is an import tariff, which taxes goods brought into a country. There are also export tariffs, which are taxes on goods a country exports, though these are rare.

The Harmonized Tariff Schedule of the United States (HTS) sets out the tariff rates and statistical categories for all merchandise imported into the United States. The HTS is based on the international Harmonized System, which is the global system of nomenclature applied to most world trade in goods.

Use Customs Info Database tariff and taxes look-up tool for finding duties and taxes for shipments to over 170 markets. A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products.