According to November 2025 estimates, if President Trump's proposed tariffs take effect permanently, the United States' long-term GDP would decrease by *** percent. Additionally, if foreign reciprocal tariffs are applied, GDP may further decrease by a *** percent. Similarly, capital stocks in the U.S. maybe negatively impacted up to a rate of *** percent.
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Tax Foundation. (December 1, 2025). Estimated impact of President Trump's proposed tariffs on GDP and capital stock in the United States as of November 2025 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 24, 2026, from /statistics/1557480/estimated-impact-of-trump-tariffs-us/
Tax Foundation. "Estimated impact of President Trump's proposed tariffs on GDP and capital stock in the United States as of November 2025." Chart. December 1, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 24, 2026. /statistics/1557480/estimated-impact-of-trump-tariffs-us/
Tax Foundation. (2025). Estimated impact of President Trump's proposed tariffs on GDP and capital stock in the United States as of November 2025. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 24, 2026. /statistics/1557480/estimated-impact-of-trump-tariffs-us/
Tax Foundation. "Estimated Impact of President Trump's Proposed Tariffs on Gdp and Capital Stock in The United States as of November 2025." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Dec 2025, /statistics/1557480/estimated-impact-of-trump-tariffs-us/
Tax Foundation, Estimated impact of President Trump's proposed tariffs on GDP and capital stock in the United States as of November 2025 ÌÇÐÄÆƽâ°æ, /statistics/1557480/estimated-impact-of-trump-tariffs-us/ (last visited July 24, 2026)
Estimated impact of President Trump's proposed tariffs on GDP and capital stock in the United States as of November 2025 [Graph], Tax Foundation, December 1, 2025. [Online]. Available: /statistics/1557480/estimated-impact-of-trump-tariffs-us/
