One year ago, on April 2, 2025, President Donald Trump stood in the White House Rose Garden and declared “Liberation Day” \u2014 the day he imposed sweeping tariffs on nearly every country that trades with the United States. He promised jobs would come “roaring back,” consumer prices would fall, and America would be made wealthy again. Twelve months later, the results tell a far more complicated story.<\/p>\n\n\n\n
The tariffs triggered one of the most turbulent years in modern U.S. trade history: markets gyrated, supply chains were upended, the Supreme Court struck down key portions of the policy, and the average American paid more at the checkout. Here is a comprehensive look at what happened \u2014 and what the data actually shows.<\/p>\n\n\n\n
Before Trump’s return to the White House, the average U.S. tariff on imports sat at roughly 2.5% \u2014 already low by historical standards. On Liberation Day, that figure exploded virtually overnight. Country-specific “reciprocal” tariffs were layered on top of existing duties, pushing the average effective rate past 21%<\/strong> at its peak. China faced the most extreme treatment: tariffs on Chinese goods briefly hit 145%<\/strong>, bringing imports from the country to a near standstill.<\/p>\n\n\n\n According to the Tax Foundation, tariffs changed more than 50 times<\/strong> in the year following Liberation Day \u2014 a whiplash of policy reversals, negotiations, exemptions, and new announcements that made it virtually impossible for businesses to plan. “There was just no way for businesses to plan,” said Erica York, vice president of federal tax policy at the Tax Foundation.<\/p>\n\n\n\n Source: Tax Foundation, CNBC, NPR<\/p>\n U.S. Average Tariff Rate \u2014 Key Milestones (2025\u20132026)<\/h3>\n