Trump's tariffs explained

What are tariffs and how do they work?

Tariffs are taxes charged on goods bought from other countries.

Typically, they are a percentage of a product's value. For example, a 25% tariff on a $10 (£7.59) product would mean an additional $2.50 (£1.90) charge.

Companies that bring the foreign goods into the country have to pay the tax to the government.

Firms can choose to pass on some or all of the cost to customers.

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Why is Trump using tariffs?

For decades, Trump has argued that the US should use tariffs to boost its economy.

He says they will encourage US consumers to buy more American-made goods, increase the amount of tax raised and lead to huge levels of investment in the country.

Trump wants to reduce the gap between the value of goods the US buys from other countries and the value of those it sells to them. He argues that America has been taken advantage of by "cheaters" and "pillaged" by foreigners.

Trump has also made other demands alongside tariffs.

The first taxes announced during his current presidential term targeted China, Mexico and Canada. He said he wanted them to do more to stop migrants and illegal drugs reaching the US.

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• What are Trump's 'reciprocal tariffs'?

• Trump's minimum 10% tariff on all imports to the US was introduced on 5 April.

• The UK, Argentina, Australia, Brazil and Saudi Arabia are among the countries this applies to.

• However, many nations will face much higher tariffs, from 9 April.

• These tariffs include 49% on Cambodian products, 46% on Vietnamese imports and 20% on goods from the EU.

• Chinese imports would face a 54% tariff (an extra 34% on top of 20% which had been previously announced).

• However, China said in response that there would be a 34% retaliatory tariff on US goods. Trump then threatened to introduce a further 50% tariff on China - meaning a 104% tariff on some products. China has vowed to "fight to the end".

• White House officials described the higher tariffs - on countries Trump called the "worst offenders" - as "reciprocal".

• Reciprocal would mean they were based on what countries already charge the US in the form of existing tariffs, plus non-tariff barriers such as regulations.

• However, this is not what has happened for all of the countries on the list.

• Instead the tariff rate was calculated on the basis that it would eliminate the US's goods trade deficit with each country.

• Some countries, including the UK, have had tariffs applied even though they buy more from the US than they sell to it.

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• Trump had also previously announced 25% tariffs on goods from Mexico and Canada, and a 10% tariff on Canadian energy imports. However, he then announced some exemptions and delays.

• He has also brought in 25% tariffs on all steel and aluminium imports, and foreign-made cars. A 25% tariff on car parts is due to start at a later date.