Since the beginning of his second term on January 20, 2025, President Donald J. Trump has increased tariffs on U.S. imports from all global partners. To implement these tariffs, the President has cited authorities in the International Emergency Economic Powers Act (IEEPA, 50 U.S.C. §§1701 et seq.) and Section 232 of the Trade Expansion Act of 1962 (Section 232, 19 U.S.C. §1862, as amended). The Trump Administration has also initiated investigations under Section 232 which may result in additional sectoral tariffs. The Administration may also consider tariffs as a remedy for unfair trade practices under Section 301 of the Trade Act of 1974 (Section 301, 19 U.S.C. §§2411-20).
Since announcing these tariff actions, the Administration has been in negotiations with some partners on tariff and nontariff matters, and some trade partners have announced retaliatory tariffs on U.S. exports. Between April and December 2025, the Administration released 12 joint statements regarding framework agreements with partners on tariff issues (including with the European Union, Japan, South Korea, the United Kingdom, Switzerland, and others) and also announced a series of temporary tariff truces with China. Negotiations with other partners are ongoing.
Table 1. Summary of U.S. Executive Tariff Actions
January 20, 2025-December 31, 2025
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