Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Donald Trump’s tariffs cost US companies US$46 billion to date, trade war data shows

Lion’s share of higher costs – US$37.3 billion – stemmed from duties on imports from China, according to Washington-based trade consultancy. Exports of US goods hit by retaliatory tariffs from China and other countries fell sharply and did not bounce back when duties were lifted

Tariffs imposed by US President Donald Trump to restructure the nation’s top trade relationships have cost American companies US$46 billion since February 2018, and US exports of goods hit by retaliatory tariffs have fallen sharply, according to an analysis of Commerce Department data.

The lion’s share of the higher tariff costs, some US$37.3 billion, stemmed from duties on imports from China, said Washington-based consultancy Trade Partnership Worldwide, which calculated cumulative tariff costs through November 2019, the latest data available.

Exports of US goods hit by retaliatory tariffs from China and other countries fell by 23 per cent in the 12 months ended November, compared with 2017, before the tariffs began, the analysis showed. Even when retaliatory tariffs have ended, those exports have not bounced back, said Trade Partnership Vice-President Dan Anthony.

Seasonally adjusted US Commerce data released on Tuesday showed the overall US trade deficit narrowed to a more than three-year low in November.



The Trade Partnership uses raw, not seasonally adjusted, data, which is specific enough to match tariff codes to categories of goods, and then break it down by state. It conducted the analysis for Tariffs Hurt the Heartland, which includes a coalition of more than 150 business associations and the Farmers for Free Trade coalition.

Two states that hold early primaries in the 2020 presidential election, Nevada and New Hampshire, saw their exports of goods facing retaliatory tariffs drop by nearly twice the national average, Anthony said. Nevada exports integrated circuits and New Hampshire produces computer and electronics products.

Trump’s trade policies have not been a key issue to date for Democrats seeking their party’s nomination.

China’s Vice-Premier Liu He is slated to sign a phase one trade deal at the White House on January 15 at the White House, China’s commerce ministry said on Thursday.

As part of that deal, the United States will halve 15 per cent tariffs imposed in September 2019 on US$120 billion in Chinese goods, but 25 per cent tariffs on US$250 billion in Chinese goods applied earlier will remain in place.

US exports of goods subject to retaliatory tariffs in China were 26 per cent lower in the 12 months ending November than in 2017, while exports of items not facing such tariffs were 10 per cent higher than 2017 levels, Anthony said.

Total US exports were higher than in 2017, but retaliatory tariffs slowed growth in 2018 and exports have declined in 2019, he said.

Trump imposed tariffs on steel and aluminium imports in February 2018. US exports to countries that retaliated with tariffs of their own were 15 per cent below their 2017 levels in the 12 months ending November 2019, he said.

After Washington rolled back these tariffs for Mexico and Canada, the two countries eliminated retaliatory tariffs on US goods in May, but US exports of affected products have not rebounded.

“The expectation was that trade would start growing again, but that hasn’t happened in the last six months,” Anthony said.

“It raises questions about all other exports that have declined. There’s no guarantee that those sales will rebound if or when those retaliatory tariffs go away.”

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×