Based on 2025 data, tariffs have not meaningfully reduced the overall U.S. trade deficit, which remained near record highs. While tariffs successfully reduced imports from specific targets like China, companies shifted sourcing to other nations, resulting in a negligible overall deficit reduction of only 0.2% in 2025.
And inflation has not been stopped. Food, gas, and oil prices are going up even while they are telling us they are going down.
