Tariffs in the second Trump administration

This article is part of a series about Donald Trump
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During his second presidency, United States President Donald Trump enacted a series of steep protective tariffs affecting nearly all goods imported into the United States. Between January and April 2025, the average effective US tariff rate rose from 2.5% to an estimated 27%—the highest level in over a century.^[2]

Trump escalated an ongoing trade war with China, raising baseline tariffs on Chinese imports to 145%. In retaliation, China imposed a minimum 125% tariff on US goods and restricted exports of rare earths critical to high-tech industries. Trump also initiated a trade war with Canada and Mexico by imposing a 25% tariff on both countries, but later granted indefinite exemptions for goods compliant with the USMCA. He framed these actions as efforts to hold the countries accountable for contraband drug trafficking and illegal immigration, while also supporting domestic manufacturing.^[3][4] Trump subsequently added a 25% tariff on steel, aluminum, and automobiles from all countries.

On April 2—a day he called "Liberation Day"—Trump announced a minimum 10% tariff on all US imports, effective April 5, and higher tariffs on imports from 57 countries. The announcement of these controversially^[5][6][7][8] named "reciprocal tariffs" prompted retaliation from trade partners and triggered a stock market crash.^[9] According to the Trump administration's reciprocal tariff formula, trade deficits are seen as inherently harmful and in need of removal,^[10] a view many economists rejected as a flawed understanding of trade.^{[11][12][13][14]} Trump also announced he would close the de minimis exemption for China beginning May 2, and for all countries at a future date.^[15]

Higher tariffs on imports from 57 countries, ranging from 11% to 50%, were scheduled to take effect on April 9 but were almost immediately suspended for 90 days for all countries except China. The 10% minimum tariff and the 25% sector-specific tariffs remain in effect.^[2] The tariffs contributed to downgraded GDP growth projections by the Federal Reserve and OECD and rising expectations of a recession. The White House began negotiating trade deals in May, including significantly reducing tariffs between itself and China, but said the 10% universal tariff would remain long term.