Trump overturned decades of US trade policy in 2025. See the impact of his tariffs, in four charts
Summary
In 2025, President Donald Trump's tariffs disrupted global commerce, raised $236 billion in revenue, and reshaped trade with key partners like China, impacting the US economy and markets.
Key Points
- President Donald Trump implemented steep tariffs in 2025, overturning decades of US trade policy and raising the effective tariff rate to nearly 17%.
- Tariffs generated over $236 billion in revenue through November 2025 but remain a small fraction of total federal revenue and do not replace income taxes.
- The US trade deficit narrowed from a monthly record $136.4 billion in March to $52.8 billion in September 2025, though the year-to-date deficit was still 17% higher than the previous year.
- Trade shifts occurred with significant drops in imports from China and Canada, while imports from Mexico, Vietnam, and Taiwan increased amid tariff impacts.
