Trade Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2 April 2, 2025 The Budget Lab's analysis of tariffs announced on April 2nd in isolation and of all U.S. tariffs implemented so far in 2025. Read the analysis All Topics Trade The economic and fiscal effects of trade and tariff policy. Recent Scores The Fiscal, Economic, and Distributional Effects of a 20% Broad TariffThe Budget Lab modeled the total effect of an illustrative 20% broad tariffs. The Fiscal, Economic, and Distributional Effects of 25% Auto Tariffs Real Change in Output by Commodity/Region of Tariffs on China, Canada, and Mexico The Fiscal, Economic, and Distributional Effects of 20% Tariffs on China and 25% Tariffs on Canada and Mexico The Fiscal, Economic, and Distributional Effects of Automobile, Semiconductor, and Pharmaceutical Tariffs The Fiscal, Economic, and Distributional Effects of Illustrative “Reciprocal” U.S. Tariffs
Trade Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2 April 2, 2025 The Budget Lab's analysis of tariffs announced on April 2nd in isolation and of all U.S. tariffs implemented so far in 2025. Read the analysis
