Tariffs have complicated the US economy
Starting from April 2025, significant changes occurred in the global trade system with the re-election of US President Donald Trump. This was reported by Zamin.uz.
He imposed high tariff rates on hundreds of products imported into the country. These decisions are negatively impacting not only the global economy but also the financial situation of American consumers.
Customs revenues have significantly increased. While the average tariff rate was 2.4 percent in 2024, this figure rose to 18.2 percent in 2025.
This is the highest level since the 1930s. As a result, customs revenue reached 28 billion dollars in June 2025.
Nevertheless, the Congressional Budget Office is warning that this policy may slow down economic growth in the long term. The trade deficit is also expanding further.
Trump aimed to reduce the flow of foreign products through tariffs and decrease the trade deficit. However, in reality, the trade deficit reached a record level of 162 billion dollars in March 2025.
The reason for this situation is that local companies tried to stockpile products before the tariffs were imposed. Although imports from China have decreased, trade routes in other Asian directions are increasing.
China's exports to the US decreased by 11 percent, but exports to India, Southeast Asia, and Europe increased. This situation indicates an increase in cases of tariff avoidance, according to economists.
Additionally, consumer prices are rising. The prices of imported products such as computers, toys, and sports equipment have increased in major retail chains.
In June 2025, the inflation rate reached 2.7 percent, showing growth compared to the beginning of the year. This negatively affects the purchasing power of ordinary consumers.
