Source: Urban-Brookings Tax Policy Center, table T25-0052
Notes: 2025 is a partial fiscal year, beginning with the implementation of tariffs announced April 2, 2025. Estimates include: (a) Tariffs on all countries as announced on April 2 (10 percent on all imported goods plus additional higher tariffs on specific countries); pharmaceuticals, lumber, copper, semi-conductors and other imports already subject to previously announced tariffs are excluded; (b) 25 percent tariffs on imports from Canada and Mexico except on goods covered by the USMCA trade agreement (a reduced rate of 10 percent applies to "potash" goods and energy goods imported from Canada); (c) tariffs on aluminum, steel, automobiles and auto parts of 25 percent. For additional details, see: https://taxpolicycenter.org/features/tracking-trump-tariffs.