Tariffs

Trump’s Tariffs Boosted Revenue, Shifted Trade From China With Little Impact on US Output: Study

The study found that higher import prices imposed costs on consumers and businesses, but losses were offset by increased government revenue and wage gains.
Trump’s Tariffs Boosted Revenue, Shifted Trade From China With Little Impact on US Output: Study
President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during his "Liberation Day" event in the Rose Garden at the White House on April 2, 2025. Brendan Smialowski /AFP via Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
0:00

A new academic study found that U.S. President Donald Trump’s tariff policies have generated substantial federal revenue and accelerated a shift away from Chinese imports while having only a minimal overall effect on U.S. economic output.

The paper, released on March 25 by the Brookings Institution, analyzed the short-run impact of tariffs imposed in 2025, chiefly the reciprocal tariffs Trump first announced on April 2 of that year, a date he referred to as Liberation Day.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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