Tracking Every Trump Tariff and Its Economic Effect

Updated: | Published:

US President Donald Trump doubled the tariffs on steel and aluminum imports to 50%, as he championed an expected deal between US Steel and Japan’s Nippon Steel Corp. The UK is the only partner exempt from this latest tariff hike, a benefit from the framework agreement reached between the two countries last month, as well as a tactic to finalize that trade deal in line with US demands.

Latest Tariffs News

The latest move comes while the White House is facing legal challenge to their most sweeping tariff policies: the “reciprocal” global tariffs – aimed at reducing the US trade deficit – and the fentanyl-related duties on China, Canada and Mexico.

The metal tariffs are instead based on so-called Section 232 investigations into the national-security implications of imports in critical sectors. Trump’s autos duties are based on the same legislation, and there are ongoing investigations that could lay the groundwork for tariffs to be imposed on several more sectors: semiconductors, pharmaceuticals, critical minerals, copper, lumber, and commercial aircraft and engines.

The president is hoping that his tariffs will help protect US jobs and encourage companies to invest more in the country. But many economists say the tariffs will hurt growth as higher prices for goods put a squeeze on household budgets. The chaotic, on-again off-again nature of Trump’s actions could also discourage businesses from investing and hiring, and possibly disrupt supply chains geared for predictability.

Here’s a compilation of measures both implemented and planned, accompanied by a Bloomberg Economics view on the effect.

Tariffs Imposed Threatened Paused or Removed

Affected Trade

$997.8B

Reciprocal
baseline
rate

$558B

World

$444.9B

China

$190.2B

World
except
UK

$47B

Canada,
Mexico

Reciprocal baseline rate
World except China, Canada, Mexico
Effective Date
4/9/25
Goods Targeted
All except some sectors
Tariff Rate
10%
Tariff Impact on US
Affected Trade
$997.8B
Average Effective Tariff Rate
+3.05%
GDP
–0.44%
Inflation
+0.26%
Read more: Trump to Impose 10% Global Tariffs on US Imports, WSJ Says →
Targets
World
Effective Date
4/3/25
Goods Targeted
Autos (from April 3), parts (from May 3). Parts eligible to temporary tariff offset for cars assembled in the US (April 29 announcement).
Tariff Rate
25%
Tariff Impact on US
Affected Trade
$364.5B
Average Effective Tariff Rate
+2.35%
GDP
–0.34%
Inflation
+0.2%
for details
Steel, aluminum
3/12/25
Commercial Aircraft and Jet Engines
Under Investigation
Semiconductors, electronics
Under Investigation
Pharmaceuticals
Under Investigation
Minerals
Under Investigation
Copper
Under Investigation
Timber and lumber
Under Investigation
Targets
China
Effective Date
5/14/25
Goods Targeted
All except some sectors
Tariff Rate
10%
Tariff Impact on US
Affected Trade
$278.3B
Average Effective Tariff Rate
+0.85%
GDP
–0.12%
Inflation
+0.07%
for details
All
3/4/25
All
2/4/25
All except some sectors
8/10/25
All except some sectors
4/10/25
All except some sectors
4/9/25
for details
All except some sectors
7/9/25
Reciprocal higher rates
Vietnam
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
46%
Tariff Impact on US
Affected Trade
$86.7B
Average Effective Tariff Rate
+0.95%
GDP
–0.14%
Inflation
+0.08%
Reciprocal higher rates
Japan
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
24%
Tariff Impact on US
Affected Trade
$72.4B
Average Effective Tariff Rate
+0.31%
GDP
–0.04%
Inflation
+0.03%
Reciprocal higher rates
India
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
26%
Tariff Impact on US
Affected Trade
$53B
Average Effective Tariff Rate
+0.26%
GDP
–0.04%
Inflation
+0.02%
Reciprocal higher rates
South Korea
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
25%
Tariff Impact on US
Affected Trade
$47.3B
Average Effective Tariff Rate
+0.22%
GDP
–0.03%
Inflation
+0.02%
Targets
Canada, Mexico
Effective Date
3/4/25
Goods Targeted
USMCA noncompliant goods from March 7 (all goods from March 4–6)
Tariff Rate
25%; 10% for Canadian energy; and potash 10% from March 7 versus 25% before
Tariff Impact on US
Affected Trade
$47B
Average Effective Tariff Rate
+0.35%
GDP
–0.05%
Inflation
+0.03%
Read more: Trump Escalates Global Trade War, Sparking Tit-for-Tat Tariffs →
for details
USMCA compliant goods, excluding potash and Canadian energy
4/3/25
USMCA compliant potash, Canadian energy
4/3/25
Reciprocal higher rates
Switzerland
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
31%
Tariff Impact on US
Affected Trade
$36.6B
Average Effective Tariff Rate
+0.24%
GDP
–0.03%
Inflation
+0.02%
Reciprocal higher rates
Thailand
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
36%
Tariff Impact on US
Affected Trade
$35B
Average Effective Tariff Rate
+0.28%
GDP
–0.04%
Inflation
+0.02%
Reciprocal higher rates
Taiwan
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
32%
Tariff Impact on US
Affected Trade
$29.9B
Average Effective Tariff Rate
+0.2%
GDP
–0.03%
Inflation
+0.02%
Reciprocal higher rates
Malaysia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
24%
Tariff Impact on US
Affected Trade
$25.6B
Average Effective Tariff Rate
+0.11%
GDP
–0.02%
Inflation
+0.01%
Reciprocal higher rates
Indonesia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
32%
Tariff Impact on US
Affected Trade
$23.5B
Average Effective Tariff Rate
+0.16%
GDP
–0.02%
Inflation
+0.01%
Reciprocal higher rates
Israel
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
17%
Tariff Impact on US
Affected Trade
$12.9B
Average Effective Tariff Rate
+0.03%
GDP
0%
Inflation
0%
Reciprocal higher rates
Cambodia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
49%
Tariff Impact on US
Affected Trade
$11.3B
Average Effective Tariff Rate
+0.14%
GDP
–0.02%
Inflation
+0.01%
Reciprocal higher rates
Bangladesh
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
37%
Tariff Impact on US
Affected Trade
$8.3B
Average Effective Tariff Rate
+0.07%
GDP
–0.01%
Inflation
+0.01%
Reciprocal higher rates
Philippines
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
17%
Tariff Impact on US
Affected Trade
$7.7B
Average Effective Tariff Rate
+0.02%
GDP
0%
Inflation
0%
Reciprocal higher rates
South Africa
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
30%
Tariff Impact on US
Affected Trade
$6.5B
Average Effective Tariff Rate
+0.04%
GDP
–0.01%
Inflation
0%
Reciprocal higher rates
Pakistan
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
29%
Tariff Impact on US
Affected Trade
$4.9B
Average Effective Tariff Rate
+0.03%
GDP
0%
Inflation
0%
Reciprocal higher rates
Norway
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
15%
Tariff Impact on US
Affected Trade
$3.8B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Nicaragua
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
18%
Tariff Impact on US
Affected Trade
$3.5B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Jordan
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
20%
Tariff Impact on US
Affected Trade
$3.3B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Sri Lanka
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
44%
Tariff Impact on US
Affected Trade
$2.9B
Average Effective Tariff Rate
+0.03%
GDP
0%
Inflation
0%
Reciprocal higher rates
Tunisia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
28%
Tariff Impact on US
Affected Trade
$1B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Ivory Coast
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
21%
Tariff Impact on US
Affected Trade
$0.8B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Laos
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
48%
Tariff Impact on US
Affected Trade
$0.7B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Myanmar
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
44%
Tariff Impact on US
Affected Trade
$0.6B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Madagascar
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
47%
Tariff Impact on US
Affected Trade
$0.6B
Average Effective Tariff Rate
+0.01%
GDP
0%
Inflation
0%
Reciprocal higher rates
Serbia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
37%
Tariff Impact on US
Affected Trade
$0.5B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Nigeria
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
14%
Tariff Impact on US
Affected Trade
$0.4B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Botswana
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
37%
Tariff Impact on US
Affected Trade
$0.4B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Algeria
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
30%
Tariff Impact on US
Affected Trade
$0.3B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Kazakhstan
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
27%
Tariff Impact on US
Affected Trade
$0.3B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Venezuela
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
15%
Tariff Impact on US
Affected Trade
$0.3B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Fiji
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
32%
Tariff Impact on US
Affected Trade
$0.3B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Lesotho
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
50%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Mauritius
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
40%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Namibia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
21%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Brunei
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
24%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Mozambique
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
16%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Bosnia and Herzegovina
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
35%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
North Macedonia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
33%
Tariff Impact on US
Affected Trade
$0.2B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Liechtenstein
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
37%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Zambia
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
17%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Guyana
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
38%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Moldova
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
31%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Angola
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
32%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Cameroon
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
11%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Zimbabwe
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
18%
Tariff Impact on US
Affected Trade
$0.1B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Iraq
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
39%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Malawi
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
17%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Falkland Islands
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
41%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Democratic Republic of the Congo
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
11%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Vanuatu
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
22%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Syria
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
41%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Equatorial Guinea
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
13%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Chad
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
13%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Nauru
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
30%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Reciprocal higher rates
Libya
Effective Date
7/9/25
Goods Targeted
All except some sectors
Tariff Rate
31%
Tariff Impact on US
Affected Trade
$0B
Average Effective Tariff Rate
0%
GDP
0%
Inflation
0%
Targets
EU, UK, Canada
Effective Date
Unknown
Goods Targeted
Undetermined
Tariff Rate
Unspecified vs digital taxes
Research by: Maeva CousinRana SajediJames Mayger Design and development by: Jeremy DiamondJason KaoAdrian LeungShadab NazmiJane PongYasufumi SaitoChristopher Udemans With assistance from: Derek Wallbank Edited by: Martin KeohanBrendan MurrayRitsuko AndoAlex Newman

Sources: US Census Bureau; WTO; Bloomberg Economics

Note: non-USMCA compliant goods for Mexico and Canada are assumed to be all dutiable imports in 2024, excluding Canadian crude oil. Steel and aluminum are per published tariff product lists, and effective 2024 tariffs are used to calculate the impact of removing exemptions; Autos are from pre-publication tariff product list. For threats, we assume a 25% tariff rate and use the exclusions list from the ‘reciprocal’ tariff executive order: pharmaceuticals are all HS-29 and HS-30; semi-conductors are all HS-85; and other sectors are all HS-74 (Copper) and HS-44 (Lumber and Timber).