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Tariffs: Estimating the Economic Impact of the 2025 Measures and Proposals, No. 25-12

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Tariffs: Estimating the Economic Impact of the 2025 Measures and Proposals, No. 25-12

DATE: April 2025

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Tariffs are taxes imposed by a government on imported goods, typically calculated as a percentage of the import's value (known as an ad valorem tax). Governments use tariffs for various purposes, such as raising revenue, protecting domestic industries from foreign competition and influencing international trade patterns. By increasing the cost of imported products, tariffs encourage consumers to shift toward domestically produced goods, thus supporting local businesses and potentially stimulating domestic economic activity.

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Azzimonti-Renzo, Marina , Edwards, Zach , Waddell, Sonya Ravindranath and Wyckoff, Acacia. "Tariffs: Estimating the Economic Impact of the 2025 Measures and Proposals, No. 25-12," Economic Brief (April 2025). https://fraser.stlouisfed.org/title/6034/item/684721, accessed on November 13, 2025.

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