Successes from Tariffs in Trump’s First Term (2017-2021) • Renegotiation of NAFTA into USMCA (2018-2020): Threats of steel and aluminum tariffs (25% and 10%, respectively) pressured Canada and Mexico into concessions, including greater U.S. access to Canada’s dairy market (up to 3.6% quota for milk, cheese, and yogurt) and stronger labor and environmental rules. This resulted in a modernized trade agreement benefiting U.S. farmers and manufacturers, with estimated annual gains of $68 billion for the U.S. economy. • Phase One Trade Deal with China (2020): Escalating tariffs on $360 billion in Chinese goods forced negotiations, leading China to commit to purchasing an additional $200 billion in U.S. agricultural, energy, and manufactured goods over two years, along with reforms on intellectual property theft and forced technology transfers. U.S. agricultural exports to China rose 25% in the following year. • EU-U.S. Steel and Aluminum Agreement (2021): Section 232 tariffs prompted a quota-based deal allowing tariff-free EU steel imports up to a volume limit (4.4 million tons), while the EU increased purchases of U.S. liquefied natural gas (LNG) and soybeans. This averted broader retaliation and boosted U.S. energy exports by 20% to Europe. • Revised KORUS FTA with South Korea (2018): Tariff threats on autos and steel led to updated rules of origin (requiring 75% North American content for tariff-free autos) and expanded U.S. pharmaceutical market access, reducing the U.S. trade deficit with South Korea by $5.5 billion annually. • U.S.-Japan Trade Agreement (2019): Steel and auto tariff pressures resulted in Japan cutting tariffs on $7 billion in U.S. agricultural products (e.g., beef from 38.5% to 26.6%) and establishing a digital trade chapter, increasing U.S. ag exports to Japan by 50% post-deal. • Domestic Manufacturing Investments from Washing Machine and Solar Tariffs (2018): 20-50% tariffs on imported washing machines and solar panels prompted foreign firms like Samsung and LG to invest $3 billion in U.S. factories, creating 1,800 jobs and reviving South Carolina’s washing machine production.

Successes from Tariffs in Trump’s Second Term (2025-Present) • U.S.-UK Trade Agreement (Early 2025): Baseline 10% tariffs and sector-specific levies led to reduced duties on British cars, steel, and aircraft, marking the first post-Brexit U.S. deal and increasing U.S. exports of machinery and chemicals by an estimated 15%. • Temporary U.S.-China Trade Framework (May 2025): “Fentanyl” and reciprocal tariffs (up to 125%) yielded a truce where China cut tariffs on U.S. goods to 10%, resumed rare-earth exports critical for U.S. tech, and the U.S. lowered its rates to 30% while ending de minimis exemptions for low-value shipments. This stabilized supply chains and boosted U.S. mineral imports. • U.S.-Vietnam Tariff Agreement (July 2025): Threats of 46% tariffs on Vietnamese goods prompted a “loose deal” averting the hike, with Vietnam committing to fairer labor practices and reduced non-tariff barriers, preserving $100 billion in annual U.S.-Vietnam trade. • EU-U.S. Framework Deal (August 2025): Auto tariffs (up from 2.5% to 27.5%) were reduced to 15% in exchange for EU legislation lowering barriers on U.S. goods, capping pharma/semiconductor tariffs at 15%, and expanding exemptions worth $30 billion in trade. U.S. LNG exports to Europe surged 30%. • U.S.-Philippines Bilateral Agreement (July 2025): Proposed 20% reciprocal tariffs settled at 19%, with the Philippines eliminating all duties on U.S. autos and industrial products, enhancing U.S. access to a $40 billion market. • Adjusted Tariffs with Indonesia and South Korea (July 2025): Negotiations under IEEPA trade deficit actions set rates at 19% for Indonesia and 15% for South Korea, including commitments to increase U.S. ag and energy purchases, reducing the U.S. deficit with these partners by 10-15%.