Uncovering the truth behind Trump’s trade claims, a closer look at America’s tariffs on global trade reveals a complex web of inaccuracies and disputed figures.
President Donald Trump has been using his tariff regime to justify his policies, making various claims about how the US is being unfairly treated in international trade. However, some of these claims have been disputed or found to be inaccurate.
One of the most notable claims is that the US is making $2bn a day from tariffs. According to the US Treasury Department, the daily figure for customs duties collected by the federal government was only $215m (£168m) as of 7 April, which is far short of Trump‘s claim.
To calculate this figure, analysts have suggested that if the average rate of Trump‘s tariffs (as of 2 April) were applied to the US imports last year, it would get to around $2bn (£1.6bn) a day. However, this calculation assumes that the volume of US imports would stay at this level.
Another claim made by Trump is that he has a trillion dollar trade deficit with China. While the US does have a large trade deficit in goods with China, official figures show it was just over $295bn (£230bn) in 2024, which is far less than the $1tn (£780bn) claimed by Trump.
Additionally, Trump claims that Canada charges 270% on US dairy products. While it is true that Canada imposes high tariffs on US dairy products, they only apply under specific conditions and do not affect most dairy imports from the US.
Furthermore, Trump‘s claim that the EU takes ‘no’ cars is also false. In fact, the EU imported 164,857 US-made cars valued at $7.7bn (£6.6bn) in 2024, while exporting 749,170 EU-made cars to the US last year valued at $38.5bn (£33.3bn).
The US has a complex trade relationship with various countries, and it is essential to understand the nuances of these agreements to make informed decisions about tariffs and trade policies.
The United States has a complex trade relationship with various countries, governed by numerous free trade agreements (FTAs) and other trade arrangements.
The US-Mexico-Canada Agreement (USMCA) replaced NAFTA in 2020, while the US-China trade war led to tariffs on billions of dollars' worth of goods.
The United States also has FTAs with countries like South Korea, Singapore, and Australia.
Trade deficits with major partners like China and Mexico have raised concerns about the impact on American jobs and industries.
