4.8%. That’s how much the U.S.’ weighted average tariff rate would be if Trump implemented the country-level strategy, Deutsche Bank economists led by Justin Weidner estimated in a Monday note. That’s a 3.3 percentage-point increase from the 1.5% effective rate U.S. imports had in 2022, according to the World Bank.

U.S. President Donald Trump said that he may sign an order on Wednesday to impose reciprocal tariffs on every country that charges duties on U.S. imports. "I may do it later on, or I may do it tomorrow morning,