Trump’s 2025 Tariffs Barely Budged U.S. GDP but Generated $264bn in Revenue and Accelerated China Trade Shift – Brookings

President Donald Trump’s aggressive tariff hikes in 2025 pushed U.S. trade protection to its highest level in at least 80 years, yet the short-term damage to the broader economy proved remarkably modest, according to a new academic analysis released Wednesday. The paper, authored by UCLA economist Pablo Fajgelbaum and Yale economist Amit Khandelwal and set

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