Council of Councils
Think Global Health
Online Store
Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Economics
Trade
President Trump’s tariffs on Canada, China, and Mexico could upend U.S. trade. These nine charts show what’s at stake, what comes next, and why it matters.
Feb 5, 2025
President Trump’s tariffs on Canada, China, and Mexico could upend U.S. trade. These nine charts show what’s at stake, what comes next, and why it matters.
Feb 5, 2025
-
Is ASEAN Leaving the U.S. Behind on Trade?The Southeast Asia trade group, China, Japan, and South Korea said they will work closely together due to “escalating trade protectionism.” Three CFR fellows explain how their U.S. relationship will pose a challenge.
-
Why Didn’t Tariffs Push up the U.S. Dollar?Tariffs were supposed to push the dollar up. What happened?
-
Trade CalendarTrade and tariffs are a central part of President Donald Trump’s international economic policy. Stay up to date with the Council on Foreign Relation’s calendar of significant trade-related events.
Experts in this Topic
Bloomberg Chair in Global Health; Senior Fellow for International Economics, Law, and Development; and Director of the Global Health Program
-
Tariff Turmoil, Part 2: Steel and Dog GelatoTariffs have sparked intense debate in Washington, but their consequences land far from Capitol Hill. Tariffs can shape paychecks, shift prices for consumers, and affect markets. At best, tariffs offer short-term protection for certain industries. At worst, they can uproot the lives of American workers. In this episode, Why It Matters looks at what tariffs mean for a U.S. steel manufacturer and small business owner trying to stay afloat.
-
What Mark Carney’s Election Win Means for Trade and U.S.-Canada RelationsMark Carney’s electoral victory represents a comeback for the governing Liberal Party in what was seen as a vote on trade and the future of Canada’s relationship with the United States.
-
C. Peter McColough Series on International Economics With Robert E. LighthizerFormer U.S. Trade Representative Robert Lighthizer shares his firsthand perspective on the Trump administration’s bold trade agenda, reflecting on the lasting impact of these policies and what they mean for the future of U.S. trade policy in an increasingly competitive global landscape. The C. Peter McColough Series on International Economics brings the world’s foremost economic policymakers and scholars to address members on current topics in international economics. This meeting series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies. If you wish to attend virtually, log-in information and instructions on how to participate during the question and answer portion will be provided the evening before the event to those who register. Please note the audio, video, and transcript of this hybrid meeting will be posted on the CFR website.
-
A Conversation With Valdis DombrovskisEuropean Commissioner, Valdis Dombrovskis, discusses macroeconomic trends, the impact of universal tariffs on the global trading system, and the state of transatlantic relations. Please note there is no virtual component to the meeting. The audio, video, and transcript of this meeting will be posted on the CFR website. The C. Peter McColough Series on International Economics brings the world’s foremost economic policymakers and scholars to address members on current topics in international economics. This meeting series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies. This meeting is presented by RealEcon: Reimagining American Economic Leadership, a CFR initiative of the Maurice R. Greenberg Center for Geoeconomic Studies.
-
Canada’s 2025 Elections: Why the U.S. Is on the BallotCanadians are heading to the polls at the most fraught moment in U.S.-Canada relations in eighty years.
-
Three Ways to Counter China in Trade TalksDerisking supply chains will take years, but U.S. trade negotiators can set the table for success by strengthening enforcement, mobilizing investment, and lowering barriers.
-
It All Comes Down to TradeTariffs and the bleak prospects for global trade dominated discussions at the International Monetary Fund (IMF) and the World Bank Spring Meetings this week in Washington, DC.
-
The U.S. Trade Deficit: How Much Does It Matter?President Trump has made reducing U.S. trade deficits a priority, but economists disagree over how much they matter and what to do about them.
-
C. Peter McColough Series on International Economics With Ngozi Okonjo-IwealaWorld Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala discusses the future of global trade and the WTO's role in the rules-based international system. The C. Peter McColough Series on International Economics brings the world’s foremost economic policymakers and scholars to address members on current topics in international economics. This meeting series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies. This meeting is presented by RealEcon: Reimagining American Economic Leadership, a CFR initiative of the Maurice R. Greenberg Center for Geoeconomic Studies. If you wish to attend virtually, log-in information and instructions on how to participate during the question and answer portion will be provided the evening before the event to those who register. Please note the audio, video, and transcript of this hybrid meeting will be posted on the CFR website.
-
The President’s Inbox Recap: Trump’s Plan for the Panama CanalThe Trump administration is leaning on the Monroe Doctrine as it seeks to shut China out of Latin America.
-
Tariff Turmoil, Part 1: How Tariffs Are Affecting FarmersTariffs are often discussed in big, abstract terms—trade wars, economic strategy, global power struggles. But for ginseng farmers in Wisconsin, their effects are painfully personal. In this episode, Why It Matters dives into how tariffs work and how they’re hitting one of America's most niche yet lucrative exports: Wisconsin-grown ginseng.
-
U.S.-China RelationsThe United States and China have one of the world’s most important and complex bilateral relationships. Since 1949, the countries have experienced periods of both tension and cooperation over issues including trade, climate change, and Taiwan.