President Trump’s tariffs have changed numerous times since they were announced in April, as foreign leaders negotiate and try to secure exemptions.

The U.S. has concluded trade frameworks with top trading partners including the European Union, Japan and South Korea. But deals with others remain works in progress, and Trump is also targeting specific industries like semiconductors that are used by millions of Americans across a wide range of products.

The Budget Lab at Yale University estimates that, if the tariffs imposed in 2025 are fully applied, it will result in a cost increase of $2,400 per American household. The lab says import duties are now at their highest level since the Great Depression.