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🇺🇸 **The evolution of import tariffs: Rates and revenue as a percentage of GDP**
"_Both rates jumped noticeably in 2018 during the first trade war, more or less doubling by 2022. Despite this increase, tariffs still make up only a small part of federal revenue: about 0.3% of GDP per year, far too small to close the gap in the federal deficit, which has been close to 7% of GDP annually in recent years._"
🔗 https://fredblog.stlouisfed.org/2025/07/the-evolution-of-import-tariffs/.
