Trump has repeatedly shifted his stance on tariffs since his “Liberation Day” announcement—earning him the nickname “TACO Trump.”

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.

At the same time, Trump has followed through on tariffs targeting steel, aluminum and automotive imports — all of which are currently in effect. A 10% baseline tariff on nearly all U.S. imports is also being enforced. Following a 90-day pause, Trump has been issuing letters informing dozens of countries of their updated tariff rates

The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump's constantly evolving trade agenda.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

President Trump’s ever-swerving tariff regime has taken more sharp turns in recent days.On July 7, his administration pushed back some of its most punishing duties by three more weeks to August, following a 90-day delay.

President Donald Trump said the U.S. will impose a 35% tariff on all Canadian goods from Aug. 1 and threatened a blanket 15 to 20% levy on most other nations.

According to reports, President Trump is firm on the 25% tariff for Japan and Korea, "but not 100% firm." The US government is still open to negotiations. However, he's threatened both countries that the figure will increase if they retaliate with their own increased tariffs.

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.