Overview

• The administration imposed import duties on more than 90 countries at rates unmatched since 1934, effective Thursday at midnight.
• The Budget Lab at Yale projects tariffs will raise consumer prices by about 1.8 percent, costing the average American household around $2,400 in the short term.
• Major retailers and manufacturers including Nike, Hermes, Adidas, Amazon and Walmart have announced U.S. price increases to offset higher import levies.
• Treasury Department figures show the government collected $30 billion in tariffs during July, reflecting the immediate revenue boost.
• A federal appeals court has begun reviewing whether the president holds constitutional authority to impose these duties without congressional approval.