On Wednesday, US President Donald Trump signed an executive order imposing a 10 per cent base tariff on all US imports starting April 5, while additional, reciprocal tariffs on countries with the largest trade deficits will take effect on April 9.
US imports from France were US$59.9 billion last year, which would allow Washington to earn almost US$12 billion in tariffs in 2025, assuming that the level of imports remains roughly the same. Imports from Germany amounted to UD$160.4 billion, and from Italy to US$76.4 billion, which would result in US$32.1 billion and US$15.3 billion, respectively, in income from tariffs for the US.
Canada sold US$21.4 billion worth of aluminium to the US, US$12.7 billion worth of steel, US$28.3 billion worth of cars and US$11.3 billion worth of auto spare parts in 2024, which adds up to US$73.7 billion in total. This could make another US$18.4 billion in tariff revenues this year.
Thus, the total US revenue from imports from G7 countries due to the new tariffs could amount to more than US$120.1 billion a year.
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