On September 1, 2019, the United States imposed import tariffs on 112 billion U.S. dollars worth of Chinese goods, such as footwear, food products, and some home electronics. A trade war between the world's two largest economies was initiated by president Trump in mid-2018 and escalated further throughout 2019.

On September 1, 2019, China imposed additional tariffs on 75 billion U.S. dollars worth of the U.S. import goods. A trade war between the world's two largest economies was initiated by president Trump in mid-2018 and escalated further throughout 2019.

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. It's estimated that, if put into effect, the average tariff rate including dutiable imports would reach almost 18 percent, up from two percent in 2024. Tariff rates are higher when dutiable imports are included because they refer only to goods that are actually subject to tariffs, rather than all imports. This skews the average tariff rate upward because it excludes duty-free goods. Trump's proposal for a universal 10 percent tariff on all imports would impose a flat tax on all imports, rather than just dutiable goods. This would result in a sharp increase in the overall tariff burden because previously duty-free goods would be taxed.

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.

Graph and download economic data for Federal government current tax receipts: Taxes on production and imports: Customs duties (B235RC1Q027SBEA) from Q1 1959 to Q4 2024 about receipts, imports, tax, federal, production, government, GDP, and USA.

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

Explore how U.S. coal exports to India rise as China imposes tariffs, reshaping global energy trade dynamics.

In 2023, Chinese exports of trade goods to the United States amounted to about 427.23 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.

The US's new 25% tariff on steel imports raises concerns about potential global trade disruptions, as expressed by the China Iron and Steel Association.

Americans' understanding of tariffs appears limited, with only 27 percent feeling very confident about their knowledge of the trade policy tool. This lack of awareness comes at a time when tariffs have become a significant topic in U.S. economic discussions, particularly in relation to international trade relations and domestic industry protection. Potential impact of proposed tariffs Despite the public's uncertainty, proposed tariffs could have far-reaching effects on the U.S. economy. If implemented, certain proposals could increase the average tariff rate on dutiable imports to nearly 18 percent, a substantial rise from the two percent rate in 2024. Such changes would not only affect dutiable goods but also impose taxes on previously duty-free imports, potentially leading to a sharp increase in the overall tariff burden. Estimates suggest that imposing tariffs on Mexico, Canada, and China could increase federal tax revenue by approximately 106 billion U.S. dollars, equivalent to 0.35 percent of the nation's GDP.

We use micro data collected at the border and the store to characterize the price impact of recent US trade policy on importers, exporters, and consumers. At the border, import tariff passthrough is much higher than exchange rate passthrough. Chinese exporters did not lower their dollar prices by much, despite the recent appreciation of the dollar. By contrast, US exporters significantly lowered prices affected by foreign retaliatory tariffs. In US stores, the price impact is more limited, suggesting that retail margins have fallen. Our results imply that, so far, the tariffs' incidence has fallen in large part on US firms.

Imports in the United States increased to 401.20 USD Billion in January from 364.58 USD Billion in December of 2024. This dataset provides the latest reported value for - United States Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Chinese steel industry faces mounting challenges as new tariffs and trade tensions, enforced by global markets including the U.S., Vietnam, and South Korea, alter the landscape of international steel exports.

This page displays a table with United States Imports By Country in U.S. dollars, according to the United Nations COMTRADE database on international trade.

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.

According to estimates, if President Trump's proposed tariffs go into effect permanently, the United States' GDP would decrease by 0.4 percent. Of this, 0.3 percent would be from the 25 percent tariff on all imports from Canada and Mexico, while 0.1 percent would be from the 10 percent tariff on all imports from China. As of February 10, China imposed retaliatory tariffs on the United States, with a 15 percent tariff on coal and liquid natural gas, and a 10 percent tariff on other exports, including oil, machinery, and large motor vehicles.

North American graphite producers seek a 920% tariff on Chinese imports to curb China's market dominance and bolster domestic resources for electric vehicles and electronics manufacturing.

Learn why U.S. container imports are expected to stay high as shippers work to pre-empt tariffs on China, with projections of continued growth in TEU volumes through 2025.

Imports in China increased to 369.43 USD Billion in February from 230.79 USD Billion in December of 2024. This dataset provides - China Imports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Explore Legrand's strategic approach to U.S. tariffs, including local sourcing and cost management, projecting only a $30 million impact.