Trump overturned decades of US trade policy in 2025. See the impact of his tariffs, in four charts

Since returning to the White House in January, President Donald Trump has overturned decades of U.S. trade policy — building a wall of tariffs around what used to be a wide open economy. Trump has argued that his steep new import taxes are necessary to bring back wealth that was “stolen” from the U.S. He says they will narrow America's decades-old trade deficit and bring manufacturing back to the country.