President Donald Trump has rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports.

4.8%. That’s how much the U.S.’ weighted average tariff rate would be if Trump implemented the country-level strategy, Deutsche Bank economists led by Justin Weidner estimated in a Monday note. That’s a 3.3 percentage-point increase from the 1.5% effective rate U.S. imports had in 2022, according to the World Bank.

President Donald Trump repeated his push to economically push Canada into becoming the 51st state during is press conference announce 25% tariffs.

President Trump said that Canada has "been very bad to us on trade" after announcing executive orders on reciprocal tariffs. The president also continued to say that Canada could be a "serious contender" for to become the 51st state.

President Donald Trump has repeatedly said Canada should be the 51st U.S. state as he proposes erasing the 5,525-mile-long border that separates the countries and alleviating the need for tariffs