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🌎 2025 International Tax Competitiveness Index

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⚡ Our new analysis of the House Ways & Means "Big Beautiful Bill" tax plan: taxfoundation.org/research/all...

Tracking the Economic Impact of the Trump Tariffs Trump’s tariffs are the largest tax hike since 1982. The tariffs are larger than the tax increases enacted under Presidents George H.W. Bush, Bill Clinton, and Barack Obama.

We're tracking the economic impact of the Trump tariffs.

Launch our Tariff Tracker: taxfoundation.org/trump-tariffs

#trump #trade #tariffs

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US Tariffs and Trade: Leading Research & Analysis Historical evidence and recent studies show that tariffs are taxes that raise prices and reduce available quantities of goods and services for US businesses and consumers, which results in lower incom...

Explore all of our tariffs and trade research:

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The Truth About Tariffs—Fact-Checking Trump’s Trade Claims YouTube video by Tax Foundation

The Truth About Tariffs—Fact-Checking Trump’s Trade Claims

youtu.be/NiB7HY4-guI?...

We estimate that Trump's tariffs will reduce US GDP by 0.7 percent, hours worked by 605,000 full-time equivalent jobs, and after-tax incomes by an average of 1.9 percent—before accounting for foreign retaliation.

Trump’s tariffs will result in a nearly $2.9 trillion tax increase over the next decade.

In 2025, Trump’s tariffs will increase federal tax revenues by $258.4 billion, or 0.85 percent of GDP, making the tariffs the largest tax hike since 1982.

The tariffs are larger than the tax increases enacted under Presidents George H.W. Bush, Bill Clinton, and Barack Obama.

The average tariff rate on all imports will rise to the highest level since 1937.

Trump’s tariffs amount to an average tax increase of more than $1,900 per US household in 2025.

The economic impact of Trump's tariffs by the numbers:

Tariffs are taxes.

Tariffs are regressive taxes.

Tariffs are distortionary, regressive taxes.

Tariffs are distortionary, regressive taxes that raise prices for US businesses and consumers.

Contrary to the president’s promises, the #tariffs will cause short-term pain and long-term pain, no matter the ways people and businesses change their behavior.

Tracking the Economic Impact of the Trump Tariffs President Trump's 25 percent tariffs on Canada and Mexico is estimated to reduce long-run GDP by 0.2 percent, reduce hours worked by 223,000 full-time equivalent jobs, and reduce after-tax incomes by ...

Historical evidence and recent studies show that tariffs are taxes that raise prices and reduce available quantities of goods and services for US businesses and consumers, which results in lower income, reduced employment, and lower economic output.

taxfoundation.org/research/all...

Confronting the New Property Tax Revolt Policymakers can and should address taxpayers’ legitimate grievances about out-of-control property tax bills, but they should do so without upending a system of taxation that is more efficient, fair, ...

Lawmakers can constrain the runaway growth of property taxes—without creating more issues. But the details matter.

taxfoundation.org/research/all...

Tariffs are taxes.

Frustrated with Tipping? No Tax on Tips Could Make It Worse “No tax on tips” might be a catchy idea on the campaign trail. But it could create plenty of headaches, from figuring out tips on previously untipped services to an unexpectedly large loss of federal ...

Frustrated with tipping?

"No tax on tips" could make it worse.

taxfoundation.org/blog/tipping...

Expanding User Fees for Transportation: Roads and Beyond By 2034, the gas tax and other car-related excise taxes are projected to raise less than half of the Highway Trust Fund’s outlays. The ideal solution would be to replace existing excise taxes with tru...

As vehicles continue to improve in fuel economy and EVs become more common, a direct user fee on each mile driven, a vehicle miles traveled tax (VMT), would be a better long-term solution to funding highway projects in the future.

taxfoundation.org/research/all...

Only three states raise enough revenue to fully cover their highway spending. With most states unable fund their roadways using existing user fees, road funding is in dire need of a better system.

Who Pays Tariffs? Americans Will Bear the Costs of the Next Trade War Contrary to President Trump’s claims, Americans will bear the costs of the next trade war in the form of lower incomes as tariffs cause prices of imported goods to rise.

When the US imposes tariffs on imports, businesses in the United States directly pay import taxes to the US government on their purchases from abroad.

New Directions in Tax Policy: Budgetary and Other Challenges of an Increasingly Complex Tax Code The Tax Foundation, University of North Carolina Tax Center, and Massachusetts Institute of Technology Sloan School of Management are hosting a joint conference to discuss New Directions in Tax Policy...

🗓️ Save the Date!

Join us on Thursday, April 10th for our joint conference hosted by the Tax Foundation, University of North Carolina Tax Center, and Massachusetts Institute of Technology Sloan School of Management.

Learn more and register: taxfoundation.org/event/2025-t...

2024 Tax Brackets

These inflation adjustments are for tax year 2024, for which taxpayers will file tax returns in early 2025: taxfoundation.org/data/all/fed...

Trump's tariffs on Mexico, Canada, and China would rank as the largest tax increase since 1993 and the 8th largest peacetime tax increase since 1940.

Trump's tariffs on Mexico, Canada, and China would shrink GDP by 0.4% and amount to an average tax increase of more than $800 per US household in 2025, according to our latest analysis: taxfoundation.org/research/all...

Trump’s Tariff Proposals Would Raise Tariff Rates to Great Depression-Era Levels Using tariff policy to reallocate investment and jobs is a costly mistake—that’s a history lesson we should not forget.

Trump often cites President McKinley as an inspiration for his personal affinity for tariffs.

But it's worth noting some of McKinley’s final words on tariffs in a 1901 speech: “Isolation is no longer possible or desirable...Commercial trade wars are unprofitable."

taxfoundation.org/blog/trump-m...

Sources of U.S. Tax Revenue by Tax Type, 2024 Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.

Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.

taxfoundation.org/data/all/fed...

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