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And the levies Trump said he intends to impose on goods will often be much higher than the ones they charge on American imports.

He has claimed that the policy is merely a response to heavy tariffs that other countries already impose on American goods, but fact-checkers have pointed out those so-called tariffs by other countries are actually just the Trump administration dividing the country's trade deficit by its U.S.-bound exports in half.

Trump's speech was triumphant - one that belied the potentially high costs his moves would impose on the American economy and on his own political standing.

That’s why “impact fees,” which most of the state’s localities impose on developers, have gone through the roof, reaching more than $100,000 per home in some jurisdictions and at least $1 billion a year statewide.

And she is under enormous pressure to show Trump that she takes his security concerns seriously in order to avoid sweeping tariffs he has threatened to impose on Mexican goods.