The Trump administration’s tariffs on imported goods, a cornerstone of its “America First” trade policy, largely failed to achieve their stated economic objectives, according to a new analysis by the Progressive Policy Institute (PPI). The report found that the tariffs did not significantly revive U.S. manufacturing, reduce trade deficits, or strengthen national security—despite claims by former President Donald Trump and his advisors.
Implemented between 2018 and 2020, the tariffs targeted over $300 billion worth of Chinese imports, along with steel, aluminum, and other goods from allies like the EU and Canada. Proponents argued they would protect domestic industries and force trading partners to negotiate fairer terms. However, PPI’s research indicates the measures instead raised costs for U.S. consumers and businesses while triggering retaliatory duties that hurt American exporters.
“The data shows these tariffs were largely counterproductive,” said a PPI economist familiar with the study. “They disrupted supply chains without delivering the promised job growth or trade rebalancing.” The report notes that the U.S. trade deficit with China reached record levels in 2022, while manufacturing employment growth slowed post-2018.
Critics of the tariffs, including many free-market economists, have long argued that protectionist measures distort markets. “Tariffs are taxes on consumers,” a Brookings Institution analyst told Reuters. “This research confirms they rarely achieve their political aims.”
The findings come as the Biden administration reviews whether to maintain some Trump-era tariffs, particularly on Chinese clean energy imports. With inflation still a concern, policymakers face pressure to avoid policies that could raise prices further. Meanwhile, Trump has vowed to expand tariffs if reelected, proposing a 10% universal levy on all imports—a plan economists warn could spark global trade conflicts.