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The administration is shutting down the "de minimis" loophole, which could affect businesses ranging from Etsy sellers to e-commerce behemoths.

Americans will bear the brunt of President Donald Trump's new tariffs, with price increases kicking in almost immediately on cars, clothing, electronics and some groceries.

Economists are harshly criticizing the crude formula the Trump administration is using to calculate reciprocal global tariffs.

Other countries vowed to respond after President Donald Trump imposed higher tariffs on imports from much of the world, including many U.S. allies.

The president announced the biggest hike in import duties in modern U.S. history, raising the risks of a recession and stock market downturn.

The Heard and McDonald Islands, a sub-Antarctic territory of Australia, is on the list of reciprocal tariffs -- as is a remote volcanic isle near Greenland.

Trump increased the blanket tariff on Chinese imports to 54 percent and imposed new duties on major trading partners including Japan, South Korea and Taiwan.

Here's who is working with Elon Musk at the U.S. DOGE Service -- also known as the Department of Government Efficiency -- to makes changes throughout the federal government.

The EV maker's first-quarter deliveries fell 13 percent year-over-year as CEO Elon Musk led efforts to slash the federal government.

As the White House launches a tariff war, business leaders are mostly staying out of the fray.