The U.S. Constitution gives the power to impose taxes — including tariffs — to Congress. But lawmakers have gradually relinquished power over trade policy to the White House. And Trump has made the most of the power vacuum, raising the average U.S. tariff to more than 18%, highest since 1934, according to the Budget Lab at Yale University.

While discussions with trading partners continue and a revamp of U.S. trade policy faces legal hurdles in federal court, U.S. President Donald Trump is approaching his deadline of Friday, Aug. 1, for implementing higher import tariffs on products from