This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

It comes as the president recently announced a 25% tariff on imported vehicles and some auto parts among other tariffs.

Canada will hit the US with a reciprocal 25% tariff on all imported vehicles, Prime Minister Mark Carney announced Thursday — as he called President Trump’s Liberation Day tariffs a “tragedy” for global trade.

Treasury Secretary Scott Bessent told reporters that the pause was not a result of the brutal selloffs in the financial markets but rather because other countries are seeking negotiations. About an hour later,

President Trump sent the financial markets soaring Wednesday when he announced a 90-day pause on all 'reciprocal' tariffs, except those on China, which he boosted to a cumulative 125%. Here is a quick glance at the current tariff picture.

Facing a global market meltdown, Trump abruptly backed off his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.

President Donald Trump paused his latest wave of tariffs on Wednesday after making big promises to Americans about how the tariffs would reshape the global economy with the U.S. at the center. "I thought that people were jumping a little bit out of line,

The move is seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to one between the U.S. and China.