President Trump said on Friday that he planned to move forward with tariffs on foreign cars on April 2, but did not specify how much the tariffs would be or which nations could be targeted.

The surprise inclusion of VAT to calculate tariffs prompts questions over the possible impact on British businesses.

Logistics experts say it was impossible for major parcel carriers and USPS to overhaul their operations in a matter of days.

Since the 1960s, tariffs — or import taxes — have emerged from negotiations between dozens of countries. Trump wants to seize the process. “Obviously, it disrupts the way that things have been done for a very long time,

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.