What Was the Overall Impact of Trump’s Tariffs in 2025?

Tracking the Economic Impact of the Trump Trade War

The Tax Foundation reports Trump Tariffs: Tracking the Economic Impact of the Trump Trade War

President Trump has imposed International Emergency Economic Powers Act (IEEPA) tariffs on US trading partners, including China, Canada, Mexico, and the EU. In addition, he has threatened and imposed Section 232 tariffs on autos, heavy trucks, steel, aluminum, lumber, furniture, semiconductors, pharmaceuticals, and copper, among others.

The Trump tariffs amount to an average tax increase per US household of $1,100 in 2025 and $1,400 in 2026.

Under the tariffs imposed and scheduled as of November 1, the…

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