Evaluating the fiscal and macroeconomic effects of universal tariffs for US

Evaluating the fiscal and macroeconomic effects of universal tariffs for US

Wednesday, April 30, 2025

9:00 AM to 10:30 AM ET

Peterson Institute for International Economics
 

Two new, separate analyses from the Tax Foundation and the Peterson Institute for International Economics explore the projected fiscal and economic outcomes of implementing universal tariffs on all US goods imports. The Trump administration publicly projects that higher tariffs will be a major and reliable source of revenue for the federal government with transitory or positive consequences for economic growth. Separate independent analyses from both organizations indicate that much lower revenue will be collected and that there will be much greater negative economic consequences for the US. A panel of the reports' authors and experts from both organizations delve into the methodology behind their respective projections, consider the viability of tariffs as a sustainable revenue source for the federal government, and discuss the broader economic implications of universal tariffs for the US economy.