From March to April, the U.S. imposed tariffs on nearly every nation. In mid-March, the U.S. enacted a 25% tariff on many imports from Canada and Mexico, a 20% tariff on all Chinese imports, and a global 25% tariff on aluminum and steel. On April 3, a 25% duty began applying to imports of all autos and auto parts, with some exceptions for cars made in Mexico and Canada that fall under existing free trade agreements. On April 2, the US announced that a flat 10% tariff on all imports, along with additional duties on goods from many other countries, would go into effect. Most goods from China, for example, will be subject to a 54% tariff, and Vietnamese imports will face a 49% tariff.
Tariff policies have also been subject to sudden change. Blanket tariffs on all Colombian imports were briefly enacted and then dropped after Colombia complied with U.S. demands. In another example, the 25% tariffs with Mexico and Canada initially applied to all goods, but two days later, t…