President Donald Trump's tariffs, implemented since his return to the White House in January, have significantly impacted the U.S. trade deficit, reducing it from a record $136.4 billion to less than half that amount, according to a Fortune analysis. The tariffs, which are double-digit taxes on imports from nearly every country, have generated tens of billions of dollars for the U.S. Treasury, while also disrupting global commerce and straining the budgets of consumers and businesses.

Trump argued that these tariffs were essential to reclaim wealth he believed was taken from the U.S., aiming to narrow the country's long-standing trade deficit and revitalize domestic manufacturing. However, the implementation of these tariffs has led to increased costs for households due to rising prices. The unpredictable nature of the tariff rollouts, characterized by announcements, suspensions, alterations, and the introduction of new tariffs, contributed to a volatile economic environment in 2025.

The effective tariff rate, a crucial metric for assessing the overall impact of tariffs on U.S. consumers and businesses, has been a key indicator of these economic shifts. While specific figures for the reduced deficit and revenue generated were not detailed in the provided source material, the report emphasized the substantial financial implications of the tariffs.

The tariffs have faced criticism for their impact on global supply chains and the increased financial burden on consumers. Businesses have also struggled to adapt to the fluctuating trade policies, leading to uncertainty in investment and production decisions. The long-term effects of these tariffs on the U.S. economy and its trade relationships remain a subject of ongoing debate among economists and policymakers.