It will cost an additional $714 billion to bring shoes, TVs and all other imports into the United States, a new analysis of trade data shows, as President Trump enacts an expansive wave of tariffs on America’s biggest trading partners.
Since entering office in January, Mr. Trump has placed a growing number of import taxes on products from Canada, Mexico, China and other nations, in addition to a range of goods that come from anywhere in the world. On Wednesday, he announced expansive tariffs on most nations in the world, just as new duties on cars were set to go into effect.
In many cases, new tariffs are being placed on top of other new tariffs — part of one of the most aggressive American trade policies in a century.
If the new rates were applied to everything the United States imported last year, the combined cost in tariffs to bring in all of those goods would be roughly 10 times what companies paid in 2024, according to a calculation from Trade Partnership Worldwide, an economic research firm in Washington.
In practice, trade patterns will likely change as a result of these policies, and countries may be granted exemptions as they negotiate with the Trump administration. But the magnitude of the increase in tariffs will likely remain high for most nations.
“These are staggering high tariffs that will have a major impact on costs for a wide range of products,” said Dan Anthony, president of Trade Partnership Worldwide. “Between the new rates and China-specific tariffs announced in February, cellphones alone would have faced $27.5 billion in extra import taxes based on these 2024 import values.”
Because of the compounding nature of many of the tariffs, rates for importing goods vary wildly for different countries. China, which was already subject to higher tariffs during Mr. Trump’s first term, jumped to nearly 63 percent from 11 percent. Mexico and Canada, which were spared by Wednesday’s announcement, jumped to 16 percent and 13 percent. Overall, the average tariff rate for goods entering the United States increased to 24 percent from 2 percent.
Some countries were spared even further. Ireland, for example, was hit with a 20 percent tariff given to all European Union members, but carve outs in Mr. Trump’s executive order for pharmaceutical goods — Ireland’s major export to the United States — meant the country’s average tariff rate increased minimally.
Change in trade-weighted average tariff rate
Among the 10 largest U.S. import partners
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China
The average tariff rate in 2024 was 11.4% and would increase to 62.9% under Trump’s tariffs.
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Vietnam
The average tariff rate in 2024 was 3.8% and would increase to 48.4% under Trump’s tariffs.
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Taiwan
The average tariff rate in 2024 was 0.9% and would increase to 28.9% under Trump’s tariffs.
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Japan
The average tariff rate in 2024 was 1.5% and would increase to 24.0% under Trump’s tariffs.
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South Korea
The average tariff rate in 2024 was 0.2% and would increase to 23.4% under Trump’s tariffs.
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India
The average tariff rate in 2024 was 2.4% and would increase to 22.8% under Trump’s tariffs.
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Germany
The average tariff rate in 2024 was 1.4% and would increase to 19.2% under Trump’s tariffs.
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Mexico
The average tariff rate in 2024 was 0.3% and would increase to 15.9% under Trump’s tariffs.
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Canada
The average tariff rate in 2024 was 0.1% and would increase to 12.9% under Trump’s tariffs.
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Ireland
The average tariff rate in 2024 was 0.2% and would increase to 3.8% under Trump’s tariffs.
Many countries have retaliated with tariffs of their own on American goods, with threats of more to follow. But even as nations wage a diplomatic battle, some companies have been rushing to bring in goods from overseas before the new tariffs take effect. Others have been racing to secure exemptions. But for many, the new costs will be unavoidable.
As companies and consumers will largely bear the higher cost of importing goods, Mr. Trump’s trade policies could come with a large economic toll. Consumer sentiment has begun to fall, inflation is expected to rise, and global stocks have been plunging. Even Mr. Trump has suggested that his policies could cause a recession.
Nevertheless, Mr. Trump suggested on Wednesday that more trade actions could follow.
See how the average tariff rate has changed across countries
Change in trade-weighted average tariff rate among countries with $1 billion or more of imports into the U.S., sorted by largest increase
| China China | 11.4% | 62.9% | +51.5 |
| Cambodia Cambodia | 7.0% | 54.9% | +47.9 |
| Vietnam Vietnam | 3.8% | 48.4% | +44.6 |
| Sri Lanka Sri Lanka | 10.1% | 53.6% | +43.5 |
| Bangladesh Bangladesh | 15.1% | 51.6% | +36.5 |
| Thailand Thailand | 1.6% | 35.8% | +34.2 |
| Indonesia Indonesia | 4.9% | 34.9% | +30.0 |
| Taiwan Taiwan | 0.9% | 28.9% | +28.0 |
| Pakistan Pakistan | 9.6% | 37.5% | +27.9 |
| Slovakia Slovakia | 2.4% | 26.6% | +24.2 |