President Donald Trump announced Saturday he is raising the global tariff he intends to impose to 15%, up from the 10% rate announced the previous day, a move that further escalated trade tensions worldwide.
The shift surprised executives and foreign leaders, who had been anticipating the previously stated 10% tariff, according to reports.
It’s been a rollercoaster of a year for U.S. Trade policy. Trump launched a barrage of new tariffs in 2025, plunging the U.S. Into trade wars with nearly every country in the world. Volley after volley of threats and steeper import taxes often arrived erratically — with Trump claiming that such levies needed to be immediately imposed to close trade imbalances and take back wealth that was “stolen” from the U.S.
But the president also turned to tariffs amid personal grudges, or in response to political critics. And the whiplash of on-again, off-again duties — and responding retaliation — fueled widespread uncertainty for businesses and consumers alike, all while households continue to face rising prices.
In his first few months back in office, Trump focused his new tariffs on America’s three biggest trading partners: Canada, Mexico and China. On-again, off-again levies and responding retaliation began to bubble up. Worldwide, the U.S. Also heightened import taxes on steel and aluminum to 25% — expanding Trump’s previously-imposed 2018 import taxes.
The administration has been in negotiations with some partners on tariff and nontariff matters and some trade partners have announced retaliatory tariffs on U.S. Exports, according to a Congressional Research Service report.
In April 2025, Trump’s trade wars escalated to new heights. The president claimed that such levies were needed to close trade imbalances and reclaim wealth he asserted had been taken from the U.S.
The rapid and often unpredictable changes in tariff policy have created a climate of uncertainty for businesses, making long-term planning difficult and potentially impacting investment decisions. Consumers are also feeling the effects, as increased import costs can translate to higher prices for goods.
The latest increase to 15% builds on a pattern of escalating tariffs throughout 2025. The initial focus on major trading partners like Canada, Mexico, and China quickly broadened to encompass a wider range of countries, as Trump sought to address perceived unfair trade practices. The steel and aluminum tariffs, initially implemented in 2018, were also reinstated and expanded, further contributing to the growing trade tensions.
The situation remains fluid, with the potential for further shifts in policy and retaliatory measures from other countries. The only certainty, as one analyst put it, is uncertainty.
