President Trump has introduced tariffs on goods from China, which has hit back by announcing similar charges on some US products.
Trump has also threatened to introduce tariffs – a tax on imports – on goods from Canada and Mexico, but paused these for 30 days after both countries agreed to boost border security.
The US president has said tariffs are needed to help the American economy and to “protect” the country from the “major threat of illegal aliens and deadly drugs”.
Trump told the BBC tariffs on EU goods could happen “pretty soon” – but suggested a deal could be “worked out” with the UK.
What are tariffs and how do they work?
Tariffs are taxes charged on goods imported from other countries.
Trump introduced a 10% tariff on all goods from China. So, a product worth $10 would have an additional $1 charge applied to it.
The president originally said he would impose a 25% tariff on goods from Canada and Mexico.
Charging a percentage of a product’s value is the most common type of tariff. Another type imposes a fixed figure on…
