Tariffs are typically paid by the importing company or organization to the US treasury

What are tariffs and how do they work?

Tariffs are taxes on imported goods paid by importing companies but typically passed on to consumers. They vary by country and product and, despite recent spikes, have historically accounted for less than 2% of federal revenue. Explore more with these data visualizations from USAFacts.

Revenue from tariffs goes to the US Treasury’s general fund

That's also where federal income taxes go. Revenue from tariffs can be spent on almost anything the government needs, such as funding programs like Medicare or the military.

An economic evaluation of US tariffs

Most economists agree that the implementation of large-scale tariffs on foreign goods would hurt both the American and global economies. This video from The Wall Street Journal explains the rationale for tariffs as a tool for domestic job creation, but explains why they may hurt the overall economy.

Auto and consumer goods companies absorbed billions in costs due to President Trump's 2025 tariffs

Detroit's three automakers combined paid $6 billion in tariffs in 2025. Procter & Gamble raised prices on 25% of its products, and supply chain experts estimate that 80-85% of all tariff costs were absorbed domestically—either by companies or consumers.

A nuanced break down of how tariffs are impacting prices

As tariffs have increased to their highest levels since the 1930s, economists have kept a close eye on retail prices. This chart and accompanying explainer shows correlations between key tariff announcements and news and the costs of roughly 350,000 goods from five major retailers.

The Tariff Act of 1789 was one of America's first acts

One of the first acts ever passed by the United States Congress instituted tariffs on foreign goods. The bill was sponsored by then-Congressman James Madison and signed into law by President George Washington. The goods the first Congress felt necessary to tax included Jamaican rum, playing cards, and—of course—British tea.

Trump's 2025 tariffs represent a significant break from the rules-based trade order

The Trump administration imposed broad tariffs on other countries outside WTO rules in 2025, claiming that those countries had long violated trade agreements and that the US was simply leveling the playing field.

Read an overview of US tariff policy before the second Trump Administration

This comprehensive report from the Congressional Research Service explores the evolving role of tariffs—from a major source of government revenue to a tool for trade and foreign policy—providing insights into current practices, legal foundations, and global trade dynamics.

A trade war is an economic conflict where nations impose tariffs or other trade barriers on each other in retaliation for similar actions

The US-China trade war is one example. While they aim to protect domestic industries, they can lead to higher prices for consumers and strained international relations.

The de minimis exemption was a US tariff loophole

Until Aug. 29, 2025, US consumers could purchase up to $800 of goods per day, directly from an overseas company without incurring any tariffs on the products.

Despite the Supreme Court ruling that President Donald Trump's 2025 tariffs were unconstitutional, billions of dollars in refunds remain unresolved

Over 2,000 lawsuits seeking refunds have been filed by major companies, including FedEx and Costco, but CBP says its systems can't handle the volume. Interest on unpaid refunds is accruing at an estimated $650M per month.

The US has carried debt since 1791

After the Revolutionary War, the US owed $75M to nations like France. Debt builds when spending exceeds revenue, funding programs, wars, and economic recovery efforts. Most debt is domestic, like Social Security bonds, with foreign nations also holding a share.

Trade between the US and China has increased in recent decades

After China joined the World Trade Organization in 2001, the trade partnership between the US and China bloomed. But it's not without pros and cons, including lower prices for US consumers and higher profits for US corporations alongside the loss of American jobs due to import competition and multinational companies moving overseas.

The term 'wedding tax' is often used to refer to the extra money that many wedding industry suppliers charge

According to wedding vendors, the "wedding tax"—the additional money charged for goods and services specifically intended for a wedding rather than another type of event—stems from the increased amount of time and attention that someone like a florist or makeup artist spends on a wedding versus any other type of event. Unlike other events, weddings are often planned a year or more in advance and require more detailed planning and hours of communication.

Capital gains taxes were first levied in the US in 1913

However, up until 1921, they were treated the same as ordinary income. Ever since then, rates have swung up and down.

Warren Buffett paid a lower effective tax rate than his secretary

While wages and salaries are taxed progressively at rates up to 37%, long-term investments are taxed at lower rates: 0%, 15%, or 20%. For wealthy individuals like Buffett, whose income mainly comes from investments, this means paying a lower effective tax rate than someone earning a salary.

Canada is the largest foreign buyer of California wine

Tariffs have impacted the wine industry in Canada significantly, given that California winemakers are responsible of 80% of the country's wine supply.

Merchants have to pay credit card transaction fees each time a card is swiped

Credit card networks such as Visa, Mastercard, and American Express must calculate fees for not only the customer, but also the merchant in every transaction.

US immigrants pay billions of dollars in taxes each year

While immigrants who are authorized workers pay taxes just like anyone else, even unauthorized workers file tax returns. These unauthorized workers use individual taxpayer identification numbers.

What are Treasury yields?

Treasury yields are the interest rates that the US government pays to borrow money for different lengths of time. Specifically, Treasury yields are interest rates on US government debt. They reflect economic outlooks and inflation expectations. Learn more about Treasury yields here.

Nearly 3 million people fly in and out of US airports every day

However, not all of those passengers generate revenue for the airlines they purchase their tickets from. One business class traveler typically pays for five to six economy travelers. That's partly because airlines measure profit by the square foot, and although a business class seat is usually roughly 30% roomier than economy seats, the business class traveler usually pays about three times as much as someone sitting in economy.

The US tips more service providers and leaves larger amounts than anywhere else globally

This map shows how other countries stack up to the US in terms of tipping norms, and could be helpful if you’re planning to budget for a trip abroad. It also indicates if tips are typically included in the bill in each country.

Employers must apply for H-1B visas on behalf of foreign workers

To hire an H-1B worker, US employers first file with the Department of Labor, then petition the US Citizenship and Immigration Services. They must attest that they won't replace American workers, and that they will implement stricter rules for firms that rely heavily on H-1B visas.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The median trademark of public companies in the US is worth $22.5M

There are multiple approaches to evaluating the value of a trademark. Some strategies include analyzing the value of royalty payments a trademark produces and the cost of recreating the trademark or brand.

If you miss the April 15 tax deadline, you could be subject to penalties

This does not apply if you file for an extension. Otherwise, you could face failure to file penalties no matter how late you file your taxes—whether it's April 16 or May 16. The penalty is 5% of the tax due for each month (or part of a month) that your return is late, minus any taxes paid on time and available credits. If you file more than 60 days late, you could owe a minimum penalty of either $525 or 100% of the unpaid tax—whichever is less.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

The US first hosted the World Cup in 1994, a tournament that lives in soccer infamy for its poor planning and the murder of Colombian player Andres Escobar, who'd accidentally scored on his own net.

Dorothy's famous entrance into Oz in 'The Wizard of Oz' relied on analog tricks, including a body double and sepia-toned paint, as much as it did on technology

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.

Lesser-known phobias include turophobia, or the fear of cheese, and nomophobia, the fear of being without your cell phone.

Poison ivy is in the same family as mangoes, cashews, and pistachios—and they all produce oily urushiol in their raw, unprocessed state—but they are typically prepared in ways to avoid causing human discomfort.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Corals are themselves not coral reefs—the term refers to the tiny marine invertebrates that build the rigid reef.