Draw it yourself: Checking Trump’s tariff claims a year later
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A year after President Donald Trump imposed sweeping tariffs on imports from almost all countries, the US trade deficit for goods in 2025 was record high at $1.23 trillion. Despite Trump's claims that tariffs would reap economic benefits for America, the overall deficit did not reduce as much as shift imports from one source to another.
President Donald Trump imposed tariffs on imports from almost all countries in April last year. The US trade deficit for goods in 2025 was record high at $1.23 trillion. The trade deficit with China shrank to $202.1 billion from $295.5 billion in 2024. However, record goods trade deficits were reported with Mexico, Vietnam, Taiwan, Thailand, and India. The tariffs did not reduce the overall deficit as much as shift imports from one source to another. The US Supreme Court ruled that Trump didn't have the constitutional authority to impose universal tariffs.
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