Trump announced tariffs on eight NATO allies and said earlier in the week that countries that do business with Iran would be hit with a 25% duty.

Despite sustained public disapproval and past backlash — including the wave of "No Kings" protests last year — Trump has continued to embrace the tariff label "tariff king" and openly associate himself with the policy, presenting it as a core pillar of his presidency.

A new report shows a much lower U.S. trade deficit as tariffs restricted both imports and exports, but some experts say the effects may be temporary.