Based on the USTR Reciprocal Tariff Calculations released April 2, 2025 and U.S. Census Bureau Trade in Goods by Country.
Disclaimer: This page reproduces the tariff model published by the USTR and reflects the terminology and definitions used by the USTR. This page is not an endorsement of the model or an expression of the authors' views or opinions. For an analysis of the Liberation Day tariffs, see the working paper Making America Great Again? The Economic Impacts of Liberation Day Tariffs.
Δτi = (xi - mi) / (ε × φ × mi)
-Δτ is USTR's calculation of the tariff on country i that will lead to balanced bilateral trade. xi is US exports to country i, and mi is US imports from country i. ε is the elasticity governing the change in trade flows in response to changes in tariff and φ is the pass-through rate of tariff to domestic prices.
ceiling(max(-Δτi/2 × 100, 10))
USTR's calculation of the tariff (-Δτ), divided by 2, but no less than 10%, rounded up to the nearest integer. This is the reciprocal tariff published on Liberation Day.
| Country | US Exports (xi) USD millions | US Imports (mi) USD millions | USTR Tariff Charged to US (-Δτi) | USTR US Reciprocal Tariff |
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