Joe - You write "Mexico and Canada are the major trade partners currently facing the lowest increase in US tariffs". The analysis by The Budget Lab shows the opposite picture: once you account for sectoral tariffs (cars, steel, aluminum), the effective tariff rates on Canada and Mexico will be higher than the average tariff rate on the rest of the world.
*Table 2. Change in Average Effective US Tariff Rate, New 2025 Policy Through May 12*
The thing I am most curious about is: when will America start really feeling the impacts of this? I am under the impression that Trump is smart enough to push the costs out, but that they will occur. Meaning Trump can claim victory in the short run while in the long run our trade relationships deteriorate over time.
Am I correct in assuming that in addition to all Trump's "special" tariffs, the US still collects product specific tariffs on Chinese imports based on existing HTS rates.
How did you get the volume data of Chinese exports to US? GACC website seems to only show amount, not volume data by destination country. Thank you for clarification!
The constant tariff whiplash—without any durable strategy or economic objective—isn’t just disruptive to global supply chains, it’s actively harmful to American businesses and consumers. We’re seeing the worst of both worlds: persistently high tariffs and failed negotiations.
Joe - You write "Mexico and Canada are the major trade partners currently facing the lowest increase in US tariffs". The analysis by The Budget Lab shows the opposite picture: once you account for sectoral tariffs (cars, steel, aluminum), the effective tariff rates on Canada and Mexico will be higher than the average tariff rate on the rest of the world.
*Table 2. Change in Average Effective US Tariff Rate, New 2025 Policy Through May 12*
China 33.2%
Canada 17.2%
Mexico 14.7%
Rest of the World 11.0%
https://budgetlab.yale.edu/research/state-us-tariffs-may-12-2025
So much for free trade with our neighbors! 🤯
Hello
your bias is showing . . .
The thing I am most curious about is: when will America start really feeling the impacts of this? I am under the impression that Trump is smart enough to push the costs out, but that they will occur. Meaning Trump can claim victory in the short run while in the long run our trade relationships deteriorate over time.
Am I correct in assuming that in addition to all Trump's "special" tariffs, the US still collects product specific tariffs on Chinese imports based on existing HTS rates.
How did you get the volume data of Chinese exports to US? GACC website seems to only show amount, not volume data by destination country. Thank you for clarification!
We Have a Problem When US Media and Politicians Care More About Communist China than US Citizens. https://shorturl.at/jCi8x
Very helpful overview, I'd love to see how annual or 10-year revenue has bounced with the changes.
The constant tariff whiplash—without any durable strategy or economic objective—isn’t just disruptive to global supply chains, it’s actively harmful to American businesses and consumers. We’re seeing the worst of both worlds: persistently high tariffs and failed negotiations.