Donald Trump’s second term has been marked by a complex trade war, characterized by fluctuating tariff rates and significant executive orders aimed at revitalizing U.S. manufacturing, particularly in iron and steel. Recent U.S. trade data highlights the varied effective tariff rates across different product categories and countries, including steep tariffs on China and Mexico, while also showing that despite increased customs revenues from tariffs, they remain a small fraction of federal spending. The article invites readers to explore interactive charts that illustrate the impact of these tariffs and the overarching “Trump Taco theory.”
