Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty. Trump launched a trade war during his first term as well,

Key Takeaways In an interview on Sunday, Commerce Secretary Howard Lutnick said a baseline 10% tariff will stay in place as trade talks continue. Economists say a broad 10% tariff on most imports could push up prices and have adverse effects on the economy.