Announced a universal 10% tariff on nearly all imports plus higher 'reciprocal' rates (up to ~50%) on dozens of trading partners, the broadest U.S. tariff action in generations.
Executive order declaring a trade-deficit national emergency under IEEPA; rates were repeatedly modified, paused, and litigated over following months.
Negative impactsubstantiated
Pushed the U.S. average effective tariff rate to the highest level since the 1930s.
Estimates put the average rate around 13–16% by late 2025 (up from ~2.6% in January), the highest since 1935.
Negative impactsubstantiated
Raised consumer prices and acted as a large tax increase on households.
Harvard Pricing Lab found tariff pass-through added ~0.76 pts to CPI through Oct 2025; the Tax Foundation called it the largest tax increase as a share of GDP since 1993 (~$1,500/household in 2026).
Mixed impactcontested
Generated tariff revenue and trade negotiations without an immediate recession.
Customs revenue rose and several partners negotiated deals; the feared 2025 crash did not materialize, though economists debate longer-term costs.
Negative impactsubstantiated
Struck down by the Supreme Court in February 2026.
In a 6-3 ruling (Learning Resources v. Trump), the Court held IEEPA does not authorize tariffs; these tariffs terminated Feb 24, 2026 and were partly replaced under Section 122 of the Trade Act of 1974.
📊 Public opinion
Substantially increasing tariffs
Approve37%
Disapprove60%
Views have been stable and net-negative since the tariffs launched in April 2025; ~71% of Republicans approve.