Almost half of US imports now face steep tariffs
What's the story
Almost 50% of all goods imported into the United States are now subject to tariffs, a New York Times analysis of Census Bureau trade data has revealed. The trend highlights how President Donald Trump has transformed American trade since his return to office in January. This year alone, Trump has imposed a series of new duties on nearly every country at unprecedented levels.
Legal battle
Trump's tariffs face challenge in Supreme Court
The legality of most new tariffs is now in question, with the Supreme Court recently hearing a case challenging Trump's use of an emergency powers law to impose them. If the court rules against him, it could deal a major blow to his trade agenda. The International Emergency Economic Powers Act (IEEPA) has been used by Trump to impose tariffs on an estimated 29% of all US imports, according to the Times analysis.
Tariff impact
Trump's tariffs have impacted over $300 billion in goods
So far this year, Trump's emergency tariffs have affected more than $300 billion worth of imported goods. The analysis shows how much the president has upended decades-old US trade policy in favor of protectionist tariffs and how much is at stake for him in the ongoing legal battle. Before Trump's second term, nearly all imports were governed by long-standing trade rules agreed upon by World Trade Organization members.
Policy shift
Over 90% of imports now subject to Trump's trade policy
By July this year, when many of Trump's tariffs started taking effect, the trend had reversed. Now, over 90% of imports are subject to some aspect of Trump's trade policy - either a tariff announced this year or during his first term or a broad exemption granted to some products at least temporarily. The president has used a wide array of presidential powers to impose tariffs this year.
Tariff details
Industry-specific duties imposed on various products
Trump has imposed industry-specific duties on steel, automobiles, lumber, and other products using a national security provision known as Section 232. These tariffs and others issued under different legal authorities are not being challenged at the Supreme Court. This means that no matter what the justices decide, nearly 16% of American imports will remain heavily tariffed.
Global impact
Court ruling could have varying impacts on countries
The court ruling on the emergency powers act could have different implications for different countries. For instance, China is already subject to protectionist tariffs imposed during Trump's first term and expanded under the Biden administration. These tariffs affect over half of China's exports to the US, with an additional higher rate applied on all Chinese imports under emergency power tariffs.
Tariff increase
EU exports to US face increased tariffs
Unlike China, EU goods largely entered the US duty-free before Trump's second term. Only about a quarter of EU exports to the US faced a tariff. Now, nearly 60% do. Most of these are subject to the tariffs under review by the Supreme Court. However, countries like Canada and Mexico have been largely exempt from emergency power tariffs imposed by Trump early in his term thanks to the United States-Mexico-Canada Agreement signed in 2020.