Donald Trump loves tariffs. Making things more expensive if they come from foreign countries is at the heart of his bid for a second term in the White House.

“Tariffs are the greatest thing ever invented,” he said in September 2024 at a town hall event in Michigan. And he has promised that if he becomes US president again, he will impose an across-the-board tariff of up to 20% on imports – and even 200% on cars from Mexico – in a bid to encourage American manufacturing.