Though President Donald Trump’s 2025 tariff hikes raised US trade protectionism to the highest level in at least 80 years, these so far have had only a small effect on the US economy, a paper discussed at the Brookings Papers on Economic Activity conference recently noted.
That is because federal revenue generated by the tariffs and gains to US producers largely offset the tariffs paid by US importers.
That is because federal revenue generated by the tariffs and gains to US producers largely offset the tariffs paid by US importers.
