U.S. Tariffs Before Trump: How Much Did America Pay and From Which Countries?

The exact amount America “loses” per day due to tariffs can vary widely depending on factors like trade volume, tariff rates, and retaliatory tariffs from other countries. But here are some key points to help understand the impact:

1. Tariffs raise costs — U.S. importers pay more, which often leads to higher prices for American consumers and businesses. This can slow economic growth and reduce purchasing power.

2. Retaliatory tariffs — Other countries often respond by imposing their own tariffs on U.S. exports, hurting American exporters and farmers.

3. Estimates of losses —

   • A 2019 Congressional Research Service report noted that the tariffs imposed during the trade war cost U.S. consumers and businesses about $1.7 billion per month in added costs, which is roughly $56 million per day.

   • The U.S. Chamber of Commerce estimated in 2020 that tariffs and retaliations cost the U.S. economy hundreds of billions of dollars annually.

4. Trade deficit effect — Tariffs aimed to reduce the trade deficit with countries like China, but the deficit often persisted or even grew in some categories.

Summary:
While it’s hard to give a precise daily loss figure due to tariffs, estimates suggest that tariffs during the recent trade conflicts cost Americans tens of millions of dollars per day in higher costs and lost economic output.

1. China

• Tariffs on U.S. goods:
  Initially started around 10% to 25% on about $250 billion worth of American imports.
  China retaliated with tariffs on about $110 billion of U.S. exports, typically between 5% and 25%.

---

2. European Union (EU)

• Tariffs on U.S. goods:
  The EU imposed retaliatory tariffs ranging from 10% to 25% on approximately $7.5 billion worth of U.S. goods, including agricultural products, whiskey, and motorcycles.

---

3. Canada

• Tariffs on U.S. goods:
  Canada retaliated with tariffs of around 10% to 25% on about $12.8 billion worth of U.S. goods, including steel, aluminum, and agricultural products.

---

4. Mexico

• Tariffs on U.S. goods:
  Mexico imposed retaliatory tariffs roughly 5% to 25% on around $3 billion of U.S. imports, including steel, pork, and cheese.

---

5. India

• Tariffs on U.S. goods:
  India imposed increased tariffs on approximately $230 million worth of U.S. goods, with rates reaching 10% to 50% on items like almonds, apples, and walnuts.

---

6. Turkey

• Tariffs on U.S. goods:
  Turkey raised tariffs to 20% to 50% on about $1 billion of U.S. imports, including cars, alcohol, and tobacco.

---

7. Brazil

• Tariffs on U.S. goods:
  Brazil imposed retaliatory tariffs between 10% and 20% on a smaller set of U.S. goods, including steel products.

---

Several reasons explain why previous administrations did not aggressively address tariff imbalances:

1. Globalization Era Mindset:
   

   Since the 1980s and 1990s, the U.S. and many other nations embraced globalization. Leaders believed that integrated supply chains and free markets would maximize efficiency and innovation, despite growing trade deficits.
   Presidents pursued multinational agreements like NAFTA and joined the World Trade Organization (WTO) to establish rules and reduce tariffs globally, favoring negotiated compromises over unilateral action.
   Large multinational corporations, financial sectors, and some political constituencies benefited from open trade and often resisted protectionist measures. Lobbying and campaign contributions created incentives to maintain the status quo.
   Aggressive tariff policies risked retaliation from other countries, possibly sparking trade wars that could harm exporters and global economic stability, deterring many leaders.
   Trade issues are complex, with impacts unfolding over years or decades. Presidents with limited terms often prioritized immediate domestic issues like the economy, healthcare, or national security.
   Some leaders trusted that market forces and economic growth would eventually correct trade imbalances without disruptive interventions.

2. Focus on Multilateral Trade Agreements:
   

3. Political and Economic Pressures:
   

4. Fear of Retaliation and Trade Wars:
   

5. Complexity and Time Lag:
   

6. Belief in Market Self-Correction:

Additional Notes:

• The U.S. also imposed tariffs on steel and aluminum imports from many of these countries, typically 25% on steel and 10% on aluminum.

• Many of these tariffs were part of the trade war aimed mainly at China but affected allies and partners through retaliations.

• Some tariffs remain in place or were adjusted by the Biden administration, but many were negotiated or partially rolled back.