Key Takeaways
- President Donald Trump made several tariff threats and trade promises in 2025, but some have yet to be fulfilled.
- The External Revenue Service, a proposed entity to collect tariffs and revenues, has not been established.
- Trump’s threats of a 200% tariff on European wine, Champagne, and spirits, a 100% tariff on foreign-made films, and a 100% tariff on computer chips have not materialized.
- The administration has announced deals with specific companies and countries, setting their own rates or exemptions for certain products.
- The math behind Trump’s proposed tariff dividend of at least $2,000 per person does not add up, and details about its implementation are scarce.
Introduction to Tariff Threats
President Donald Trump has been known for his aggressive approach to trade policy, using tariffs as a means to pressure other countries into new trade deals or punish them for perceived unfair trade practices. In 2025, Trump made several tariff threats and trade promises, some of which have materialized, while others have yet to be fulfilled. This article will examine some of the key tariff threats and promises made by Trump in 2025 and provide an update on their current status.
The External Revenue Service
One of Trump’s most notable promises was the establishment of the External Revenue Service, an entity that would collect all tariffs, duties, and revenues from foreign sources. Trump announced the plan in a social media post on January 14, 2025, and reiterated it in his inaugural address on January 20, 2025. However, as of the end of December 2025, the External Revenue Service has yet to be established. Administration officials have continued to mention plans for launching the entity, but no concrete progress has been made.
Tariffs on European Wine, Champagne, and Spirits
In March 2025, Trump threatened to impose a 200% tariff on European wine, Champagne, and spirits in response to the European Union’s planned levy on American whiskey. However, the EU’s levy was postponed, and Trump’s tariff threat never materialized. Instead, the EU and the US struck a trade deal over the summer, which set a 15% rate on most European imports. Spirits were not included in the deal, but the US did not impose the threatened 200% tariff.
Tariffs on Foreign-Made Films
Trump also threatened to impose a 100% tariff on foreign-made films, citing the decline of the American movie industry. However, despite repeated threats, the US has yet to impose such a tariff. The White House has said that no final decision has been made, and it is unclear how the US would tax a movie made overseas.
Tariffs on Pharmaceutical Drugs
In July 2025, Trump announced plans to impose a tariff on pharmaceutical drugs, suggesting a rate of 200% or higher. However, no such tariff has been imposed, and the administration has instead announced deals with specific companies and countries, setting their own rates or exemptions. For example, the UK secured a 0% tariff on all British medicine exported to the US for three years.
Tariffs on Computer Chips
In August 2025, Trump announced plans to impose a 100% tariff on computer chips, but no such tariff has been imposed. The administration has provided few details about the timing or implementation of the tariff, and it is unclear whether it will ever materialize.
Tariff Dividend
Finally, Trump has proposed a tariff dividend of at least $2,000 per person, which he claims will be paid to Americans from the revenue generated by tariffs. However, budget experts have said that the math does not add up, and details about the implementation of the dividend are scarce. The Treasury Secretary has suggested that the rebate might take the form of tax cuts, while the White House National Economic Council Director has said that it is up to Congress to decide.
Conclusion
In conclusion, while Trump has made several tariff threats and trade promises in 2025, some have yet to be fulfilled. The External Revenue Service has not been established, and several threatened tariffs, including those on European wine, foreign-made films, and computer chips, have not materialized. The administration has instead announced deals with specific companies and countries, setting their own rates or exemptions. The proposed tariff dividend of at least $2,000 per person remains unclear, and its implementation is uncertain. As the US trade policy continues to evolve, it is essential to monitor the developments and assess the impact of these tariffs on the economy and businesses.