In the process he has raised the average effective tariff on goods entering America from 2.5% last year to about 20%, the highest since the Great Depression. The policy process has been chaotic, to put it politely,

President Donald Trump is considering exemptions for automakers from some tariffs announced by his administration, the White House confirmed Wednesday to CNBC's Eamon Javers. The confirmation follows a Financial Times report that Trump is planning to exempt auto parts from tariffs on imports from China.