A steel factory in Hangzhou, China. In his first term, President Trump initially imposed tariffs on steel and aluminum from countries like China and Russia.
An Intel construction site in Chandler, Ariz. Intel is among the companies that have pledged to invest hundreds of billions of dollars in U.S. chip-making facilities.
President Trump said that Americans would be better off in the long run from his tariffs, which he said would prevent the country from being “ripped off.”
The electric car company led by Elon Musk builds all the cars it sells in the United States in California and Texas, shielding it from tariffs that could devastate competitors.
Many imports from Canada and Mexico will be exempt from tariffs, as the president quickly reversed a sweeping trade action taken just two days ago after market turmoil.
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