Trade Compliance at What Cost? Lessons from USMCA Automotive Trade

Spencer Bowdle and Fariha Kamal
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Fariha Kamal: https://www.federalreserve.gov/econres/fariha-kamal.htm

No 2025-07-18-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: U.S. trade policy shifted dramatically in 2025—the average effective tariff rate increased from 2.3 percent in 2024 to 13.1 percent as of June 13, 2025. This dramatic rise in tariffs reflects increases for a wide variety of products across all trading partners. Along with widespread tariff increases, however, U.S. importers now face additional compliance costs to conform with increasingly complex trade regulations and reporting obligations.

Date: 2025-07-18
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-07-18-2

DOI: 10.17016/2380-7172.3854

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