Part 3/9:
However, Trump's tariffs are markedly different in both scope and severity. Unlike targeted tariffs, Trump's blanket 10% tariffs on all imports, with only minimal exemptions, have raised the average tariff rate in the U.S. to over 23%—the highest in over a century. This widespread imposition can have far-reaching consequences, raising the costs of imported components and rendering U.S. businesses less competitive.