Trade-offs of Higher U.S. Tariffs: GDP, Revenues, and the Trade Deficit

Sharon Jeon, Ricardo Reyes-Heroles, Abhi Uppal, Eva Van Leemput and David Yu

No 2025-07-07-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In recent years, protectionist trade policies have gained momentum globally, reversing decades of increasing globalization. This shift is driven by growing skepticism about the benefits of free trade, national security concerns, geopolitical considerations, and efforts to enhance economic resilience in the wake of COVID-19.

Date: 2025-07-07
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-07-07-1

DOI: 10.17016/2380-7172.3774

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