Prices were expected to change for all agri-food products in the United States due tariffs imposed on China, Mexico, and Canada in 2025. Imported products were expected to suffer the greatest price increases, but domestic products would see prices rise too, mostly due to the fact that stages of the production process might involve raw materials from other countries. Among the domestic agri-food products processed, rice would see the highest price increase, with 4.8 percent, while among imported products wheat would see the highest increase at 14.9 percent.

According to a 2025 survey, nearly half of consumers in the United States intended to switch to more affordable alternatives of their favorite brands if prices rose due to Trump's proposed tariffs on international goods. Another 17 percent would stop purchasing the product altogether.

According to a 2024 survey, roughly two-thirds of Americans thought that increasing tariffs on foreign goods would increase prices in the country. Another ten percent agreed that increasing tariffs would have no great effect on prices in the U.S.

US Tariff Impact on Market

The US tariff policies have significantly impacted the global trade management market, leading to both opportunities and challenges for businesses. In particular, tariffs on imported goods have increased the complexity of managing cross-border trade, requiring businesses to implement more sophisticated trade management solutions.

As companies face rising costs due to tariffs, the demand for trade management systems that help optimize customs compliance, minimize duties, and streamline logistics has surged. Furthermore, sectors such as manufacturing, retail, and transportation have felt the brunt of these tariffs, with industries directly impacted by increased trade barriers.

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For example, the retail sector has seen a rise in goods costs, ultimately affecting margins. The US tariff impact on sectors like manufacturing and retail is approximately 10-15% as they deal with higher raw material costs and inventory disruptions. Companies now look for more automation and integrated solutions to mitigate these costs and streamline operations.

➤ Economic Impact

The US tariffs have led to an increased cost of imports, pushing businesses to adopt more efficient trade management systems. As tariffs increase, businesses are forced to reevaluate their supply chain strategies, leading to higher operational costs. In the long term, this could prompt global shifts in trade flows.

➤ Geographical Impact

US tariffs have disproportionately affected countries with high trade volumes with the US, especially China, Mexico, and Canada. As tariffs increase, businesses in these regions must adapt to higher costs and potential disruptions. This shift influences regional trade agreements and the movement of goods, altering global trade dynamics.

➤ Business Impact

US tariffs have forced businesses to invest in advanced trade management technologies to mitigate the effects of increased import duties and logistical delays. Companies are now focusing on automation, compliance optimization, and cost-effective solutions to navigate the growing complexities of international trade. Small and medium-sized enterprises face considerable challenges.

US Tariff Impact on Market

The imposition of U.S. tariffs, particularly on Japanese imports, has had an impact on the manga and anime licensing market. Tariffs on merchandise and media products have increased production costs for licensed anime and manga-related goods, which could lead to higher prices for U.S. consumers.

This price increase could dampen the demand for anime and manga products, especially in price-sensitive markets. Furthermore, U.S. distributors and retailers relying on Japanese content may face challenges in securing affordable licensing agreements, as the cost of imports rises.

However, U.S. distributors may attempt to mitigate these impacts by negotiating new agreements, increasing digital content licensing, and focusing on domestic production of anime-related merchandise, which could partially offset the tariff-related challenges. Over time, as the market continues to grow, the long-term outlook remains positive.

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• Economic Impact: U.S. tariffs increase production costs for anime and manga-related merchandise, potentially leading to higher prices for consumers and reducing demand.
• Geographical Impact: U.S. distributors are facing higher licensing and importation costs, impacting their profit margins and the overall affordability of manga and anime products in the U.S.
• Business Impact: Increased costs may lead to fewer affordable licensing deals or higher product prices, which could limit the potential for growth in the U.S. anime and manga markets.

Impact Percentage on Sectors

• Anime and Manga Merchandise: +8-10%
• Content Licensing Agreements: +5-7%

According to a 2025 survey, over one-quarter of Americans were planning on making electronics purchases because they expect prices to increase across the country as a result of Trump's proposed tariffs on all imported goods. Of those, 42 percent were between the age of 18 and 24, compared to only 12 percent 55 and older.

Tariffs have long been central tool in global trade policy. Learn how tariffs affect critical US industries, and how businesses are navigating their impacts.

This data package includes the underlying data files to replicate the data, tables, and charts presented in Why Trump’s tariff proposals would harm working Americans, PIIE Policy Brief 24-1.

If you use the data, please cite as: Clausing, Kimberly, and Mary E. Lovely. 2024. Why Trump’s tariff proposals would harm working Americans. PIIE Policy Brief 24-1. Washington, DC: Peterson Institute for International Economics.

Discover the impact of new tariffs on Vietnamese coffee imports and how they are expected to drive up US coffee prices, affecting robusta coffee supplies.

US Tariff Impact on the Market

US tariffs could have a substantial impact on the global contextual marketing market, especially in terms of cost structures and international trade dynamics. With contextual marketing relying heavily on digital platforms, mobile devices, and software solutions, tariffs on technology imports and services could result in higher operational costs for businesses.

For sectors such as activity-based marketing, which accounts for over 51.3% of the market, tariff-related increases could range between 2% and 4%, potentially leading to higher prices for end consumers. The mobile device sector, crucial for contextual delivery, may face a 3-5% rise in component costs.

Furthermore, industries like retail and consumer goods, which hold a 23.7% market share, could see reduced profit margins due to tariff-related cost increases. While tariffs may also drive companies to consider domestic alternatives to avoid additional charges, they may be faced with challenges in maintaining the competitive pricing needed in the fast-evolving digital marketing sector.

Economic Impact

• North America, the leading market, could face higher prices for technology-driven services.
• Tariffs may disrupt global supply chains, impacting regions relying on imported digital tools.
• The US market could drive the localization of digital marketing technologies to mitigate tariff effects.

Geographical Impact

• North America, the leading market, could face higher prices for technology-driven services.
• Tariffs may disrupt global supply chains, impacting regions relying on imported digital tools.
• The US market could drive the localization of digital marketing technologies to mitigate tariff effects.

Business Impact

• Higher costs could reduce the margins for businesses heavily dependent on digital marketing.
• Companies may seek alternative suppliers or in-house solutions to minimize tariff impacts.
• Small and medium-sized businesses may struggle to adapt to increased operational costs.

US Tariff Impact Percentage for Impacted Sector

The US tariffs are expected to impact sectors such as activity-based marketing (2-4%) and mobile devices (3-5%) in terms of increased costs, which could affect both pricing and competitiveness. Retail & consumer goods may experience a 1-3% rise in operational expenses due to increased import costs.

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In Q1 2025, Omeprazole prices in the USA experienced notable fluctuations driven by a combination of tariffs, economic factors, and supply-demand dynamics. January saw a sharp increase in prices due to the rush to stockpile ahead of the 10% tariff on Chinese goods, anticipated to take effect in February. This surge in demand, coupled with supply chain strains, was further exacerbated by the Chinese Lunar New Year. Prices were also supported by rising energy costs.

In 2024, Chinese exports of trade goods to the United States amounted to about 438.95 billion U.S. dollars; a significant increase from 1985 levels, when imports from China amounted to about 3.86 billion U.S. dollars. U.S. exports to China Compared to U.S. imports from China, the value of U.S. exports to China in 2020 amounted to 427.23billion U.S. dollars. China is the United States’ largest trading partner, while China was the United States third largest goods export market. Some of the leading exports to China in the agricultural sector included soybeans, cotton, and pork products. Texas was the leading state that exported to China in 2020 based on total value of goods exports, at 16.9 billion U.S. dollars. U.S. - China trade war The trade war between the United States and China is an economic conflict between two of the world’s largest national economies. It started in 2018 when U.S. President Donald Trump started putting tariffs and trade barriers on China, with the intent to get China to conform to Trump’s wishes. President Trump claimed that China has unfair trade businesses. As a result of this trade war, it has caused a lot of tension between the U.S. and China. Nearly half of American companies impacted by the U.S.-China trade tariffs said that the trade war increased their cost of manufacturing. The healthcare product industry has suffered the most from the trade war in regards to reduced profits.

US Tariff Impact on Market

US tariffs on imported RFID hardware and components could affect the overall cost structure for data centers, potentially raising the price of RFID systems. This could slow down adoption rates, especially for smaller data centers that are highly cost-sensitive.

In the short term, RFID technology providers may face supply chain disruptions, leading to delays in product availability. Additionally, tariffs on passive RFID components could particularly impact the hardware segment, which holds over 71% of the market share.

While the long-term impact of these tariffs remains uncertain, the growth trajectory of the RFID market in US data centers is expected to continue, as the benefits of asset tracking and management in improving operational efficiency outweigh the challenges posed by tariffs.

US Tariff Impact on Sectors

• Hardware: 4%-6%
• Passive RFID: 5%-7%
• Asset Tracking and Management: 3%-5%

Economic Impact

Tariffs could increase the cost of importing RFID hardware components, driving up the price of RFID systems in US data centers. This may lead to a reduced demand, particularly from smaller data centers that are more price-sensitive. The overall adoption of RFID technology may slow down temporarily.

Geographical Impact

North America, the leading market for RFID in data centers, will face a greater tariff burden due to the high import dependence for hardware components. This could delay the adoption of RFID systems in the region, although demand for asset tracking and management will likely drive growth in the long run.

Business Impact

Businesses operating in the US data center RFID market could face higher costs due to tariffs on imported components. This might lead to increased product prices and potentially lower profit margins. Manufacturers and service providers will need to adjust their strategies to mitigate cost increases, possibly by seeking local sourcing options.

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In Q1 2025, Lactic Acid prices in the USA displayed a volatile trajectory. January saw a sharp price surge due to front-loaded buying ahead of a proposed 10% tariff on Chinese goods and pre-holiday stockpiling linked to the Chinese Lunar New Year. Elevated energy costs and severe port congestion in California further strained supply chains, amplifying cost pressures. The uptrend persisted into February following the enforcement of the 10% tariff on February 4 and the anticipation of an additional 25% tariff on chemicals in April, which accelerated procurement activities.

US Tariff Impact on Market

The imposition of US tariffs could have significant effects on the pressure sensors market, particularly due to the market’s reliance on global supply chains for key components. Tariffs on imported components like semiconductors and pressure sensors could lead to a 4-6% increase in production costs, especially for the automotive and industrial sectors.

The wired pressure sensor segment, which holds over 85% of the market share, may be especially impacted by increased material and production costs. Additionally, tariffs on goods from key manufacturing regions like China could slow down the innovation cycle and disrupt the timely supply of essential components.

This would result in higher pricing for automotive applications, including EGR and TPMS systems, and could potentially limit the availability of advanced pressure sensor solutions for industrial and medical uses. Companies may explore local sourcing alternatives, but this could lead to an increase in production time and cost in the short term.

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Economic Impact

• Increased tariffs could lead to a 4-6% increase in production costs for key components.
• Higher production costs could dampen the growth of pressure sensors in price-sensitive sectors like automotive.
• Increased operational costs might slow overall market expansion.

Geographical Impact

• North America may face slower growth due to higher component costs.
• Asia-Pacific regions may experience disrupted supply chains, affecting sensor availability.
• Regional shifts could lead to increased local manufacturing to avoid tariffs, altering global distribution.

Business Impact

• Increased costs could affect pricing strategies for the automotive and industrial sectors.
• Companies may need to adjust their market strategies to absorb tariff-induced price hikes.
• Smaller businesses may struggle with tariff-related cost increases, reducing their competitive market share.

US Tariff Impact Percentage for Impacted Sector

The wired pressure sensor segment could face a 4-6% increase in production costs due to tariffs. The automotive sector, representing 27% of the market, could see a 3-5% price hike, particularly affecting EGR and TPMS systems.

The U.S. Metoprolol Succinate market experienced a gradual yet consistent price increase across Q1 2025, driven by a combination of supply constraints, trade policy shifts, and rising operational costs. January saw a modest price uptick as U.S. importers front-loaded shipments to avoid the impending 10% tariff on Chinese goods set for February 1. This pre-tariff inventory build-up, combined with Chinese Lunar New Year-related demand and higher energy costs, created short-term supply pressure and minor price escalation.

In Q1 2025, Levofloxacin Hemihydrate prices in the USA experienced moderate fluctuations. January saw a price increase due to stockpiling in anticipation of a 10% tariff on Chinese goods set to take effect in February and the Chinese Lunar New Year, which boosted demand. Additionally, rising energy costs and port congestion, worsened by California wildfires, strained supply chains and contributed to higher prices.

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The leather goods market is expected to grow at a CAGR of 4% during the forecast period. Increased spend on personal goods, drivers.2, and drivers.3 are some of the significant factors fueling leather goods market growth.

Increased spend on personal goods

The key factors that drive the growth of the global leather goods market are customer fashion-consciousness and rising spending on luxury goods. Customer awareness about the latest and unique designs of leather goods is rising due to increased spending power, evolving lifestyles, and the augmenting penetration of smartphones. Vendors are constantly introducing new designs and patterns, owing to intense competition and increasing customer demand because of rapid changes in the fashion industry. Customers prefer leather goods due to their durability and premium look. The increasing number of marketing campaigns as well as product and brand promotion activities also drive the growth of the global leather goods market. Vendors make significant investments to market and promote their products. They focus on customer engagement, the reinforcement of brand relevance, increasing brand awareness, and guiding customers to stores or shopping websites. Vendors use various methods to improve brand equity and promote their products. Direct marketing, which includes e-mail, print advertising, catalogs, and brochures; in-store events; celebrity endorsements; and mobile marketing are some strategies used by the vendors. They also use social media platforms, such as Facebook, Twitter, Pinterest for brand promotion. For instance, in January 2019, KERING, one of the key vendors, promoted its Gucci brand and products in the Spring Summer 2019 collection through Singin’ in the Rain, a Hollywood movie that featured a tote bag from the brand. Trade wars are also a challenge for the growth of the market. For instance, the Government of the US has imposed approximately a 25% tariff on the import of leather goods from China. China, in turn, has imposed a tariff between 5% and 25% on the export of hides, skins, and leather goods to the US. Such tariffs will increase the cost of production for vendors, which will affect their profit margins. However, they also create growth opportunities for leather exports from other Asian countries, especially countries such as India, Vietnam, and Indonesia. The wide availability of counterfeit leather goods affects the sales and pricing strategies of vendors, as it dilutes their market share and hampers their reputation. Furthermore, social organizations such as People for the Ethical Treatment of Animals (PETA) have been taking various initiatives against leather manufacturers and the use of leather by spreading awareness among people about the ill-treatment of animals and discouraging them from using leather goods. In September 2019, members of PETA protested during the London Fashion Week against the hazardous waste generated by the leather industry. The presence of stringent governmental regulations for the procurement of raw materials also affects the growth of the global leather goods market. Tanning companies must follow various regulations related to the production of leather, the disposal of waste, the use of chemicals, environmental protection, and recycling. These regulations and restrictions imposed on the leather industry increase the costs borne by vendors and hinder their production processes. In addition, the extent of the coronavirus outbreak, popularly named as COVID-19, was so huge that it was declared a pandemic by The World Health Organization. This pandemic is indeed a tragedy for humankind; nevertheless, it has a far-reaching impact on industries as well. As this pandemic continues to expand, both manufacturing, as well as the services side of various industries, are expected to realize the hit in terms of economic slowdown/gain. Some of the major industries that have been impacted by the COVID-19 outbreak are household durables; textiles, apparel, and luxury goods; and hotels, restaurants, and leisure facilities. The supply chain around the world has been disrupted due to the COVID-19 pandemic, owing to which the global leather goods market is facing immediate decline. Despite these challenges, the demand for leather goods is expected to increase, owing to emerging market trends. For instance, the demand for leather tanned from exotic animals, apart from traditional leather, to make leather goods has grown during the past five years. The increased demand for leather goods at airport retail stores is another trend that will drive the growth of the market during the forecast period. Globally, the number of passengers traveling by air is expected to increase every year. Travelers generally prefer purchasing luxury and premium products from the duty-free stores in airports, as such stores offer products at lower prices than local retail stores.

US Tariff Impact on Market

US tariffs on imported nanosensor components could have a significant effect on the market, particularly in sectors like healthcare and environmental monitoring, where electrochemical nanosensors play a critical role. The tariffs could increase production costs by 3-5%, particularly for key materials like nanomaterials, semiconductors, and electrodes that are critical for nanosensor manufacturing.

This increase in production costs might lead to higher sensor prices, which could slow adoption, especially in price-sensitive industries like healthcare. Additionally, any disruptions in the supply chain of nanosensor components could delay the development and deployment of new technologies.

Smaller companies, in particular, could face difficulties absorbing these increased costs, potentially stalling their market expansion. However, established companies with strong distribution networks may offset these challenges by leveraging economies of scale. Despite these short-term hurdles, the long-term outlook for the nanosensors market remains positive due to the growing demand for applications across healthcare, environmental monitoring, and IoT technologies.

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Economic Impact

• Production costs could rise by 3-5%, slowing market growth.
• Higher sensor prices may limit adoption in cost-sensitive industries like healthcare.
• Supply chain delays could affect the timely availability of new nanosensor products.

Geographical Impact

• North America may experience slower growth due to tariff-induced cost hikes.
• Disrupted global supply chains may lead to component shortages, affecting global markets.
• Other regions could explore local production to mitigate tariff impacts, leading to regional shifts.

Business Impact

• Increased production costs could affect profit margins, especially for smaller companies.
• Manufacturers may need to adjust pricing models to account for rising material costs.
• Companies may face delays in launching new products due to supply chain disruptions.

US Tariff Impact Percentage for Impacted Sector

The electrochemical nanosensor segment, which holds a dominant market share of 43.2%, may experience a 3-5% increase in production costs due to tariffs on critical nanomaterials and components. This would lead to a rise in product prices, potentially slowing adoption in sensitive sectors like healthcare.

This statistic shows the cost of non-tariff measures on U.S. agricultural exports to the EU expressed as a tariff equivalent, by product categories. As expressed as a tariff equivalent, U.S. exports of pork to the EU face an ** percent tariff due to non-tariff measures.

Non-tariff measures

Non-tariff trade barriers or non-tariff trade measures are, as the name suggests, barriers to trade other than tariffs. These are typically embodied in regulatory mechanisms such as customs valuations rules, licensing restrictions and quotas, as well as safety standards. Non-tariff barriers are generally implemented in order to help domestic business or protect the health and safety of a nation’s citizens, wildlife and environment.

The reduction or elimination of non-tariff barriers is at the heart of both the Transatlantic Trade and Investment Partnership as well as the fears of its critics. The deal seeks to make trade regulations between the United States and European Union countries equivalent in order to facilitate greater trade. A recent study on TTIP has projected that U.S. exports to the EU would increase by ** to ** percent and EU to U.S. exports would increase by ** to ** percent.

Europeans, in particular, are largely against any measures that would make their consumer and environmental safety standards in line with those of the U.S. In general, product standards in the EU are higher than those in the U.S. As an example, in terms of chemicals in products, the U.S. takes the approach that any chemical is safe until proven unsafe, whereas the opposite holds true in the EU.