In the wake of the Great Depression, many European economies adopted protectionist policies in order to boost their domestic industries and shield them from foreign competition. The most common way that countries do this is by placing restrictions and huge tariffs on foreign imports, therefore giving an advantage to producers in their home markets. Following the Wall Street Crash of 1929 and the global depression that followed, fifteen countries in Europe increased import tariffs by an average of 64 percent; with tariffs more than doubling in Germany, who had been struggling with the economic fallout of the First World War for more than a decade by this point. Tariffs in the agricultural sector also increased significantly, more than tripling in Germany and more than doubling in France and Italy.

According to a survey taken in July 2025, roughly 27percent of surveyed Americans were planning to make purchases because they expected prices to increase as a result of the tariffs.

According to estimates, President Trump's proposals to impose universal tariffs as well as tariffs on Chinese, Canadian, and Mexican imports would considerably increase the average tariff rate. If Trump's proposals go into effect, it is estimated that the average tariff rate of all imports would almost triple, marking the highest rate in the United States since 1969.

Procter & Gamble may hike prices amid potential Trump tariffs, with strategies focusing on cost-cutting and supply chain flexibility to address import vulnerabilities.

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.

US Tariff Impact on Market

U.S. tariffs on imported components, such as semiconductor chips, AI processors, and cloud infrastructure, have raised production costs for personal AI assistant technology providers. Many of these components are sourced from regions like Asia, where tariff increases have resulted in higher prices for the hardware necessary for AI assistants.

As a result, U.S.-based manufacturers may pass these increased costs onto consumers, potentially slowing adoption, especially among small to medium enterprises (SMEs). The impact of tariffs is particularly significant in the chatbot and customer service application segments, where scalability and efficiency are critical. U.S. tariffs are estimated to affect 10-15% of the personal AI assistant market, with cloud-based AI assistants and natural language processing technologies being the most impacted.

US Tariff Impact Percentage for Impacted Sector

The U.S. tariffs have impacted approximately 10-15% of the personal AI assistant market, particularly affecting chatbot solutions and cloud-based AI assistants that rely on imported semiconductor chips and cloud infrastructure.

Sources for US Tariff Impact Data

• Impact of Tariffs on Semiconductor and Cloud Technology: U.S. tariffs increase costs for AI hardware and cloud components.
• Cost Increases Due to Tariffs: Tariff-related price hikes for AI assistants.
• Adjustments in AI Supply Chain: U.S. companies exploring local production to mitigate tariff effects.

Economic Impact

• U.S. tariffs on critical components have raised production costs for personal AI assistants.
• Increased prices may deter adoption, particularly among cost-sensitive customers and SMEs.
• Despite these cost increases, the market remains robust due to strong demand across various sectors like customer service and entertainment.

Geographical Impact

• North America, especially the U.S., faces higher costs due to tariffs, which could slow adoption in certain applications.
• Asia-Pacific remains largely unaffected by U.S. tariffs, maintaining competitive production capabilities.
• Europe experiences moderate impacts but benefits from a diversified supply chain and reduced reliance on tariff-impacted regions.

Business Impact

• U.S. AI assistant manufacturers face higher operational costs, impacting profitability and pricing strategies.
• Price hikes could limit the adoption of personal AI assistants in smaller businesses.
• Companies are investing in local production and alternative suppliers to mitigate t...

US Tariff Impact on Market

US tariffs on imported components could have a significant impact on the global IoT sensors market, particularly in the pressure sensor and consumer electronics segments, which heavily rely on international supply chains. Tariffs could increase production costs by 4-6%, impacting the affordability of IoT sensors for price-sensitive applications, such as consumer electronics and industrial devices.

Additionally, the increase in production costs may hinder market growth, as businesses would either absorb the added costs or pass them on to consumers, reducing competitiveness. Moreover, supply chain disruptions could delay the availability of key components, particularly for wireless IoT sensors.

While US manufacturers may explore domestic production to mitigate these tariff impacts, this may lead to increased costs in the short term. Despite these challenges, the long-term growth potential of the IoT sensors market remains strong, driven by innovation in sensor technology and the expansion of IoT applications in various industries.

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Economic Impact

• Tariffs could increase production costs by 4-6%, slowing market growth.
• Higher prices may reduce affordability for price-sensitive sectors like consumer electronics.
• Supply chain delays may hinder timely delivery and increase overall costs.

Geographical Impact

• North America could face higher prices, reducing the adoption of IoT sensors in some industries.
• Asia-Pacific may experience delays in sensor component availability due to global supply chain disruptions.
• Regions with strong manufacturing bases may explore local production to mitigate tariff impacts.

Business Impact

• Companies may need to adjust pricing strategies to account for increased costs.
• Small and medium-sized businesses may struggle to absorb the additional tariff-induced costs.
• Large companies may seek to offset the impact by optimizing local production capabilities.

US Tariff Impact Percentage for Impacted Sector

Tariffs could increase production costs by 4-6% for key segments, particularly the pressure sensor and consumer electronics sectors, which are the largest contributors to the IoT sensor market.

US Tariff Impact on Market

U.S. tariffs on imports, especially in the fashion sector, have had a notable impact on the fashion e-commerce market. Tariffs on apparel and accessories, particularly those from China, have increased production costs for many U.S.-based e-commerce retailers.

As a result, the prices of fashion items sold online have risen, which may slow down consumer spending in the short term. U.S. companies relying on international suppliers for manufacturing are feeling the strain, pushing some to seek alternative, tariff-free regions for sourcing.

However, the impact may drive some companies to increase domestic manufacturing, creating local production opportunities. Over the long term, despite tariff-induced cost increases, the demand for fashion e-commerce is expected to remain robust due to the convenience and broad appeal of online shopping.

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• Economic Impact: Increased tariffs raise costs for U.S. fashion e-commerce companies, potentially leading to higher prices for consumers and affecting sales.
• Geographical Impact: U.S. fashion retailers are facing higher prices for imported apparel and accessories from China, pushing them to explore other sourcing options.
• Business Impact: Tariffs increase operational costs for fashion e-commerce businesses, leading to potential price hikes and margin pressures, slowing growth in price-sensitive segments.

Impact Percentage on Sectors

• Apparel and Clothing: +7-9%
• Accessories: +5-7%

We examine how the looming threat of tariff hikes under a trade agreement renegotiation impacts firm entry into a trading partner's market by exploiting uncertainty over the future UK-EU trade relationship brought about by the June 2016 Brexit referendum. Using the universe of UK export transactions at the firm and product level, we find that uncertainty over future market access to the EU deterred entry modestly in the months immediately after the Brexit vote, but the deterrent effect increased over time.

Volvo Cars is considering relocating some model production to the U.S. due to potential tariff hikes, aligning with their strategic adaptations for the future.

Botswana BW: Tariff Rate: Applied: Weighted Mean: Manufactured Products data was reported at 2.160 % in 2022. This records an increase from the previous number of 0.700 % for 2021. Botswana BW: Tariff Rate: Applied: Weighted Mean: Manufactured Products data is updated yearly, averaging 1.120 % from Dec 2001 (Median) to 2022, with 21 observations. The data reached an all-time high of 4.260 % in 2012 and a record low of 0.240 % in 2018. Botswana BW: Tariff Rate: Applied: Weighted Mean: Manufactured Products data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Botswana – Table BW.World Bank.WDI: Trade Tariffs. Weighted mean applied tariff is the average of effectively applied rates weighted by the product import shares corresponding to each partner country. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups and import weights. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of weighted mean tariffs. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.;World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade and Development's Trade Analysis and Information System (TRAINS) database and global imports data from the United Nations Statistics Division's Comtrade database.;;The tariff data for the European Union (EU) apply to EU Member States in alignment with the EU membership for the respective countries/economies and years. In the context of the tariff data, the EU membership for a given country/economy and year is defined for the entire year during which the country/economy was a member of the EU (irrespective of the date of accession to or withdrawal from the EU within a given year). The tariff data for the EU are, thus, applicable to Belgium, France, Germany, Italy, Luxembourg, and the Netherlands (EU Member State(s) since 1958), Denmark and Ireland (EU Member State(s) since 1973), the United Kingdom (EU Member State(s) from 1973 until 2020), Greece (EU Member State(s) since 1981), Spain and Portugal (EU Member State(s) since 1986), Austria, Finland, and Sweden (EU Member State(s) since 1995), Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovakia, and Slovenia (EU Member State(s) since 2004), Romania and Bulgaria (EU Member State(s) since 2007), Croatia (EU Member State(s) since 2013). For more information, please revisit the technical note on bilateral applied tariff (https://wits.worldbank.org/Bilateral-Tariff-Technical-Note.html).

Learn how DIY Watch Club is adapting to U.S. tariff hikes by successfully expanding into the European market, reducing its reliance on American sales.

Haiti tariff rates for 2020 was 6.76%, a 0.24% increase from 2016.

<ul style='margin-top:20px;'>

<li>Haiti tariff rates for 2016 was <strong>6.52%</strong>, a <strong>0.03% decline</strong> from 2015.</li>
<li>Haiti tariff rates for 2015 was <strong>6.55%</strong>, a <strong>0.63% decline</strong> from 2014.</li>
<li>Haiti tariff rates for 2014 was <strong>7.18%</strong>, a <strong>0.66% increase</strong> from 2013.</li>
</ul>Weighted mean applied tariff is the average of effectively applied rates weighted by the product import shares corresponding to each partner country. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups and import weights. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of weighted mean tariffs. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead.

United States US: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data was reported at 3.020 % in 2016. This records an increase from the previous number of 2.990 % for 2015. United States US: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data is updated yearly, averaging 3.570 % from Dec 1989 (Median) to 2016, with 27 observations. The data reached an all-time high of 4.340 % in 1997 and a record low of 2.940 % in 2014. United States US: Tariff Rate: Most Favored Nation: Simple Mean: Primary Products data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Trade Tariffs. Simple mean most favored nation tariff rate is the unweighted average of most favored nation rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).; ; World Bank staff estimates using the World Integrated Trade Solution system, based on data from United Nations Conference on Trade and Development's Trade Analysis and Information System (TRAINS) database and the World Trade Organization’s (WTO) Integrated Data Base (IDB) and Consolidated Tariff Schedules (CTS) database.; ;

US Tariff Impact on Market

The US tariff policies, especially those affecting imports of technology solutions, could have a notable impact on the hybrid workplace market. Many of the tools and technologies enabling remote work, such as collaboration software, cybersecurity solutions, and IT infrastructure components, are imported from regions like China.

The imposition of tariffs on these goods could increase costs for both companies and end-users. It's estimated that tariffs could raise prices by up to 15-20% for certain imported software and hardware products used in the hybrid workplace. This increase in costs may slow the adoption of these technologies, particularly among small and medium enterprises (SMEs) that are more price-sensitive.

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• Economic Impact: Tariffs on imported technology could increase operational costs for companies relying on these solutions, slowing down market adoption.
• Geographical Impact: US companies, particularly SMEs, will face higher costs in acquiring the necessary technology for hybrid work solutions, reducing their competitive advantage globally.
• Business Impact: Companies in the US may need to explore alternative sourcing or pass on higher costs to customers, potentially leading to slower adoption or market growth in the hybrid workplace sector.

US Tariff Impact on Market

US tariff policies, particularly on Chinese imports, have affected the Multi-Access Edge Computing (MEC) market in terms of both hardware costs and the overall supply chain. As the US imposes tariffs on components related to edge computing infrastructure, such as processors and communication equipment, the cost of manufacturing and deploying MEC solutions has risen.

This has led to an increase in prices for end-users, especially in industries like healthcare and manufacturing, where edge computing is crucial for time-sensitive applications. The increased cost burden affects companies investing in MEC technology, slowing down adoption in certain sectors.

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Additionally, companies that rely on cross-border trade for hardware procurement are being forced to reevaluate their supply chains. The IT and telecom sectors, which make up 28.3% of the market, have been significantly impacted by these tariff hikes, with some estimating a 10-12% increase in operational costs due to the additional tariffs on imported components.

➤ Economic Impact

The economic impact of US tariffs on MEC includes higher costs for hardware components, slowing adoption across certain sectors. Increased operational expenses and strained supply chains lead to reduced profitability, particularly for manufacturers of edge computing solutions. The result is a potential delay in the widespread adoption of MEC technologies.

➤ Geographical Impact

Regions heavily dependent on imports of edge computing hardware, such as the US and parts of Europe, face cost increases due to tariffs. Manufacturers in the US, especially those in the IT & telecom sector, are encountering difficulties in sourcing affordable components, impacting MEC rollouts and driving up prices.

➤ Business Impact

For businesses in the MEC market, US tariffs create a challenging landscape by inflating the cost of key components. This forces companies to either absorb the costs or pass them onto consumers. Additionally, companies must adjust their supply chain strategies, potentially seeking alternative sourcing options or investing in local manufacturing.

Chipotle CEO Scott Boatwright reveals the company's plan to absorb costs from Trump's tariffs, avoiding price hikes, with efficient sourcing and innovative operations.

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.

Turkey tariff rates for 2021 was 3.22%, a 0.37% increase from 2020.

<ul style='margin-top:20px;'>

<li>Turkey tariff rates for 2020 was <strong>2.85%</strong>, a <strong>0.28% decline</strong> from 2019.</li>
<li>Turkey tariff rates for 2019 was <strong>3.13%</strong>, a <strong>0.63% increase</strong> from 2018.</li>
<li>Turkey tariff rates for 2018 was <strong>2.50%</strong>, a <strong>0.95% decline</strong> from 2017.</li>
</ul>Weighted mean applied tariff is the average of effectively applied rates weighted by the product import shares corresponding to each partner country. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups and import weights. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of weighted mean tariffs. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead.

US Tariff Impact on Market

US tariffs on cold chain equipment and technology, including tracking hardware and transportation materials, could potentially increase costs across the cold chain supply chain. Higher tariffs could result in increased prices for cold chain tracking hardware, impacting both manufacturers and consumers. With the growing reliance on cold chain solutions in sectors like food and pharmaceuticals, these cost hikes could disrupt market growth.

The hardware segment, which represents over 76% of the market, is particularly vulnerable to these tariff increases, as many components are sourced from countries subject to tariffs. Tariffs may range from 10%-25%, depending on the product category, raising the overall cost of solutions for companies involved in the cold chain logistics industry.

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