During his second presidency, United States president Donald Trump enacted a series of steep protective tariffs affecting nearly all goods imported into the United States. From January to April 2025, the average applied US tariff rate rose from 2.5% to an estimated 27%—the highest level in over a century. After changes and negotiations, the rate was estimated as 18.4% as of July 2025. By July 2025, tariffs represented 5% of federal revenue compared to 2% historically.