But the president has carved out exceptions for certain products and countries, while promising additional tariffs on the horizon. The stakes remain unchanged, and whether Mr. Trump can succeed is still an open question with great consequences for the U.S. economy. In place of his expansive emergency tariffs, Mr. Trump quickly announced a new, across-the-board 15 percent tariff on many imports. Industry-specific duties Tariffs target products deemed by Mr. Trump to be essential to national security. In some cases, these industry-specific tariffs do not pile on top of the duties that Mr. Trump has imposed on specific countries.

Source: International New York Times February 22, 2026 13:50 UTC