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.

Taiwan aids Foxconn in response to Trump's tariff increases, ensuring robust tech supply chains by shifting production to Mexico and enhancing US market presence.

Explore the global response to the US doubling tariffs on steel and aluminum imports, as countries engage in urgent trade negotiations to address economic challenges.

US Tariff Impact on Market

US tariffs on external storage products, such as hard drives, solid-state drives (SSDs), and related components, are likely to impact the external storage market. The tariffs on imports from key manufacturing hubs like China could result in increased product prices, potentially slowing down adoption, especially in the consumer electronics sector. These tariff hikes could affect the overall pricing structure of external storage devices, making them more expensive for consumers and businesses.

The professional optical storage segment may also face challenges due to the increased cost of optical drives and related technology components. These higher costs might hinder market expansion, particularly in the price-sensitive markets of North America. The tariff increase is estimated to be between 10%-25%, depending on the type of product, leading to a ripple effect across the supply chain.

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US Tariff Impact on the Market

The imposition of US tariffs could have a considerable impact on the context-aware computing market, especially in the technology and electronics sectors. As the market heavily relies on software solutions and consumer electronics, increased tariffs on imported components or services may lead to higher production costs.

For instance, consumer electronics, which account for 29.3% of the market share, could face price hikes of 4-6%, disrupting both pricing strategies and market demand. Similarly, the software segment, which holds 49.4% of the market share, may see increased development costs due to tariffs on software tools and international collaboration.

While some businesses may relocate production to mitigate tariff burdens, others may absorb the higher costs, reducing profit margins. Tariffs may also push companies to seek local suppliers or increase investment in domestic R&D to maintain competitive pricing. This shift in sourcing strategies could have long-term implications on market dynamics.

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Economic Impact

• Increased tariffs could elevate the costs of software development and electronic components.
• Overall market growth may slow down as businesses adjust to higher operational costs.
• Businesses may need to reassess pricing structures, potentially affecting their revenue models.

Geographical Impact

• North America could face higher costs in importing components for consumer electronics.
• Tariffs may disrupt international supply chains, especially for software and hardware solutions.
• Companies might focus on local sourcing within the U.S. to mitigate tariff risks.

Business Impact

• Increased costs may force businesses to rethink their pricing strategies.
• Companies may invest more in domestic production to avoid tariff hikes.
• Smaller companies could face greater financial pressure from rising operational costs.

US Tariff Impact Percentage for Impacted Sector

The software segment, accounting for 49.4% of the market, may experience a 3-5% increase in development costs due to tariffs. Consumer electronics, which represent 29.3% of the market, could see price hikes of 4-6%, affecting consumer demand and sales.

United States US: Tariff Rate: Most Favored Nation: Simple Mean: All Products data was reported at 3.570 % in 2016. This records an increase from the previous number of 3.560 % for 2015. United States US: Tariff Rate: Most Favored Nation: Simple Mean: All Products data is updated yearly, averaging 3.860 % from Dec 1989 (Median) to 2016, with 27 observations. The data reached an all-time high of 5.760 % in 1993 and a record low of 3.540 % in 2014. United States US: Tariff Rate: Most Favored Nation: Simple Mean: All 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.; ; 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 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.

In early April, claiming to boost the country's domestic economy, President Trump made an executive order to implement new, widespread tariffs. In addition to the 10 percent baseline tariff imposed on all U.S. imports, Trump also announced specific tariffs on a number of important trading partners, such as the European Union, China, and Vietnam, which account for over 40 percent of all U.S. imports. According to a survey taken just after the announcement, roughly 20 percent of surveyed Americans were planning to make purchases because they expected prices to increase as a result of the tariffs.

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%

US Tariff Impact on Market

The livestock farming technology market is vulnerable to changes in US tariffs, particularly on equipment imported from countries such as China and other international suppliers. US tariffs could lead to an increase in production costs, raising prices for essential farming technologies like IoT sensors, automated feeding systems, and milking robotics.

These higher prices may hinder adoption, especially among smaller or rural farms that are already constrained by financial limitations. It is estimated that tariffs could lead to an increase in costs by up to 25% for certain imported technologies.

For farmers, this could result in delayed investments or a shift towards less sophisticated, lower-cost alternatives, potentially impacting the overall growth of the market in the US. Companies within the US may also need to source domestically or from other countries not impacted by tariffs, which could disrupt existing supply chains.

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• Economic Impact: Increased tariffs will lead to higher costs for both manufacturers and farmers, limiting the affordability of livestock farming technology, particularly for small-scale operations.
• Geographical Impact: US farms, especially in rural areas, will be more affected by price hikes due to reliance on international suppliers. This could result in slower adoption rates in these regions.
• Business Impact: Manufacturers and tech companies will need to re-evaluate their supply chains and may be forced to pass the cost increases to farmers, negatively affecting sales and profitability.

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.; ;

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.

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.

The US-China trade war created net export opportunities rather than simply shifting trade across destinations. Many “bystander” countries grew their exports of taxed products into the rest of the world (excluding US and China). Country-specific components of tariff elasticities, rather than specialization patterns, drove large cross-country variation in export growth of tariff-exposed products. The elasticities of exports to US-China tariffs identify whether a country’s exports complement or substitute US or China and its supply curve’s slope. Countries that operate along downward-sloping supplies whose exports substitute (complement) US and China are among the larger (smaller) beneficiaries of the trade war.

This data package includes the underlying data to replicate the charts, tables, and calculations presented in The US Revenue Implications of President Trump’s 2025 Tariffs, PIIE Briefing 25-2.

If you use the data, please cite as:

McKibbin, Warwick, and Geoffrey Shuetrim. 2025. The US Revenue Implications of President Trump’s 2025 Tariffs. PIIE Briefing 25-2. Washington: Peterson Institute for International Economics.

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.

United States US: Tariff Rate: Applied: Simple Mean: Primary Products data was reported at 2.470 % in 2016. This records an increase from the previous number of 2.460 % for 2015. United States US: Tariff Rate: Applied: Simple Mean: Primary Products data is updated yearly, averaging 2.810 % from Dec 1989 (Median) to 2016, with 27 observations. The data reached an all-time high of 3.700 % in 1998 and a record low of 2.450 % in 2010. United States US: Tariff Rate: Applied: 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 applied tariff is the unweighted average of effectively applied 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. 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. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of simple mean tariffs. 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

US tariffs could significantly impact the global industrial sensors market, particularly on components such as pressure sensors, contact sensors, and semiconductor materials. With over 23.1% of the market share held by pressure sensors, any increase in production costs due to tariffs on imported components could raise prices by 3-5%.

This could make industrial sensors more expensive for end-users, particularly in manufacturing, where cost efficiency is crucial. Additionally, supply chain disruptions could delay the availability of key components, impacting production timelines. The contact segment, which dominates the market with 68.5% share, may face similar challenges due to increased costs on essential raw materials.

While established companies may have the capacity to absorb some of these costs, smaller businesses may find it more difficult to remain competitive. Despite these challenges, the market’s long-term growth remains positive, driven by rising demand for automation, industrial IoT, and increasing investments in smart manufacturing systems.

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Economic Impact

• US tariffs could increase production costs by 3-5%, slowing market adoption.
• Higher costs may lead to higher product prices, affecting affordability in cost-sensitive industries.
• Disrupted supply chains may delay the availability of critical components.

Geographical Impact

• North America may experience slower market growth due to higher tariffs on imported components.
• Asia-Pacific, being a key supplier of sensor components, may face production delays.
• Regions with high industrial demand may explore domestic production to mitigate tariff-related disruptions.

Business Impact

• Increased costs may impact profit margins, especially for manufacturers of pressure and contact sensors.
• Companies may need to adjust pricing models or absorb costs to remain competitive.
• Smaller firms may struggle with tariff-induced price hikes, reducing their market share.

US Tariff Impact Percentage for Impacted Sector

The pressure sensor segment (23.1% market share) and contact sensor segment (68.5% market share) could experience a 3-5% increase in production costs due to tariffs on imported components and raw materials, leading to higher prices for industrial sensors.

Paramount Coffee Company is increasing prices as U.S. tariffs on imported coffee beans strain the Midwest coffee market.

United States US: Tariff Rate: Applied: Weighted Mean: Primary Products data was reported at 1.510 % in 2016. This records an increase from the previous number of 1.490 % for 2015. United States US: Tariff Rate: Applied: Weighted Mean: Primary Products data is updated yearly, averaging 1.510 % from Dec 1989 (Median) to 2016, with 27 observations. The data reached an all-time high of 3.670 % in 1999 and a record low of 1.070 % in 2008. United States US: Tariff Rate: Applied: Weighted 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. 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. 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.; ;