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.