Trump tariffs take effect as U.S. gas prices rise amid Iran conflict
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New tariffs on imports from over 80 countries began Friday, coinciding with a rise in national average gasoline prices and ongoing tensions with Iran.
President Donald Trump announced that the United States has begun enforcing new import tariffs covering more than 80 nations, while the national average price of gasoline rose to $4.11 per gallon on Saturday. The tariffs, imposed under Section 301 of the Trade Act of 1974, range from 10% to 12.5% and have already faced legal challenges. An analysis by the Budget Lab at Yale University estimates the measures could add roughly $1,100 to an average household’s annual expenses.
In a phone interview with French journalist Sonia Dridi, Trump said he is "absolutely" considering resuming full-scale military action against Iran if the United States does not achieve its objectives, adding that Iran appears to be becoming more serious. He previously told reporters the U.S. is in talks with Iran but did not comment on whether he would impose the threatened tariffs on the European Union.
The tariffs come as the conflict with Iran enters its sixth month, with the Strait of Hormuz closed by Tehran and U.S. efforts to reroute oil shipments facing new threats. Consumer sentiment surveys show growing financial stress, and a recent POLITICO poll indicated that 37% of self-identified Trump supporters would back the war only if it does not increase costs.
Legal nonprofit Liberty Justice Center, which successfully challenged earlier tariffs, has filed a new lawsuit contesting the administration’s authority to impose the Section 301 duties.