The White House's latest tariff announcement targets countries without finalized trade agreements, promising to boost U.S. Treasury funds. However, experts caution that these tariffs could lead to higher consumer prices and inflation.

Under the executive order, Trump has kept an existing baseline 10% tariff for about 100 countries, and reciprocal tariff rates for 70 countries will range from 15% to 41%. A separate order also raised tariffs on goods from Canada from 25% to 35% “to address the flow of illicit drugs” across the northern border.