Explore Trump's announcement of new 25% tariffs on steel and aluminum imports, marking a significant shift in US trade policy.

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.

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.

Introduction

The global semiconductor industry is currently facing significant challenges due to the imposition of tariffs, which have disrupted supply chains and increased production costs. These tariffs, particularly those introduced by the U.S. administration, have led to a reevaluation of manufacturing strategies across the sector. In 2025, the United States imposed tariffs of up to 145% on Chinese semiconductor imports, prompting retaliatory tariffs of 125% from China. These measures have significantly strained the global semiconductor supply chain, leading to increased costs and uncertainties for manufacturers and consumers alike.

For instance, Advanced Micro Devices (AMD) has projected a revenue impact of $1.5 billion in 2025 due to new U.S. export restrictions on advanced AI chip shipments to China, a market that accounts for over 24% of AMD's revenue. Similarly, the German chip-equipment maker Suss MicroTec has warned that new U.S. tariffs could severely disrupt global semiconductor supply chains and potentially trigger a worldwide recession. These developments underscore the far-reaching implications of trade policies on the semiconductor industry, affecting not only corporate revenues but also the broader global economy.

Around 30% of businesses are currently adopting a wait-and-watch approach toward the ongoing uncertainty surrounding semiconductor tariffs. This cautious stance reflects growing concerns over supply chain unpredictability. In contrast, before the introduction of the Trump-era tariffs, nearly 61% of companies had already started reshaping their procurement strategies, actively exploring alternative suppliers. This shift was largely driven by heightened geopolitical tensions, evolving global trade policies, and new market barriers, all of which increased the complexity of international semiconductor trade. Businesses now demand greater transparency to make informed decisions in this rapidly changing environment.

New Zealand stresses the importance of maintaining its robust beef trade relationship with the US amidst concerns over potential tariffs.

Dataset - General Agreement on Tariffs and Trade (Organization)-History in the news

The US is pressing India to remove high car import tariffs in upcoming trade agreements, a critical issue for automotive markets and US companies like Tesla.

The United States recorded a trade deficit of 61.62 USD Billion in April of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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US Tariff Impact on Market

US tariffs on imported Bitcoin-related technologies, such as mining equipment and hardware for blockchain infrastructure, could have a significant impact on the market. The imposition of tariffs may increase the cost of production for miners, affecting the overall cost structure of Bitcoin. These increases in hardware prices could slow the adoption of Bitcoin mining, especially for smaller-scale miners.

Furthermore, higher costs for blockchain infrastructure could discourage new players from entering the market, reducing the speed of innovation. The Exchanges segment, which constitutes a substantial portion of market share, could also face additional operational costs due to tariffs on technology and software products essential for trading platforms. The tariff increase is expected to range from 10% to 20%, depending on the product, potentially adding significant operational expenses to Bitcoin-related services and products.

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US Tariff Impact on Market

The ongoing tariffs imposed by the U.S. government have significant ramifications on the AI in FP&A market, primarily affecting hardware and technology components crucial for AI systems. Tariffs on Chinese imports have impacted the supply chain for critical components used in AI systems, raising costs for U.S.-based companies.

This situation has caused companies to reconsider their reliance on foreign suppliers, leading to potential shifts toward domestic production. The increased cost of production may slow down the rapid adoption of AI in FP&A within certain U.S. industries.

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• Economic Impact: Tariffs have led to increased operational costs for companies in the AI space, particularly in hardware procurement and technology infrastructure.
• Geographical Impact: U.S.-based companies are impacted more significantly, especially those relying on Chinese imports for AI-related technology, pushing them to explore alternative supply chains or face increased production costs.
• Business Impact: U.S. businesses involved in AI development and FP&A tools face pressure to adapt to new pricing structures, which could result in higher prices for AI solutions, impacting adoption rates in the short term.

Japan introduces a new proposal for U.S. auto tariff reduction, emphasizing domestic production and export contributions to strengthen trade ties.

The US introduces new tariffs on Chinese vessels to boost its shipbuilding sector and national security, impacting global shipping dynamics.

US Tariff Impact on Market

US tariffs on imports, including vehicles and essential technology used in on-demand transportation services, have a significant impact on the market. For instance, tariffs on vehicles and components can lead to increased operational costs for companies that rely on imports, particularly in the electric vehicle (EV) and vehicle-hailing segments.

This price increase may affect both service providers and consumers, potentially slowing down the adoption rate of new technology and raising the cost of transportation. Moreover, tariffs on technology devices like smartphones can limit access to services in price-sensitive regions, which could disrupt service expansion in key markets. The e-hailing services sector, a major contributor to on-demand transportation, faces a 15%-25% tariff increase on vehicle imports.

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Discover the potential effects of China's new tariffs on US soybean exports, as shipments race against the clock to reach their destination before the additional duties are enforced.

Ukraine is optimistic about renegotiating US tariffs, aiming for better trade terms under Trump's recent announcements, as highlighted by First Deputy Prime Minister Yulia Svyrydenko.

Groupe Lactalis adapts to U.S. tariff challenges with strategic investments and expansions in the dairy market, ensuring continued supply and growth.

Discover how Brazil could emerge as a winner from recent U.S. tariff changes, potentially boosting its economy and attracting investments.

Beijing raises tariffs on US farm goods, intensifying trade conflict with a focus on soybeans and other key exports.

Explore Mexico's efforts to secure preferential treatment in light of new U.S. auto tariffs, crucial for its automotive sector and economy.