The Tariff War in
Numbers

In 2017, China was America's top supplier by a wide margin. By 2023, Mexico had taken the top spot for the first time in 20 years. Between those two dates: three rounds of tariffs, a global pandemic, and the fastest supply chain restructuring in modern history.

2017

China dominated U.S. imports

In 2017, China supplied $506 billion in goods to the U.S. — more than Mexico and Canada combined. Electronics, furniture, apparel: entire supply chains ran through Chinese factories.

The U.S. trade deficit with China was $375 billion. It had been widening for a decade. In early 2018, Washington decided to act.

2018

March 2018 — Section 232 tariffs: 25% on steel, 10% on aluminum

The first shot: steel and aluminum

Section 232 invoked national security to justify tariffs on steel and aluminum imports — hitting not just China, but also Canada and Mexico, the two closest U.S. allies. Both retaliated immediately with counter-tariffs on American goods.

Paradoxically, total imports from China rose in 2018 as companies frontloaded orders before broader tariffs hit.

2018 – 2019

July–September 2018 — Section 301: tariffs on $250B of Chinese goods

The main event: $250B of Chinese goods taxed

Three rounds of Section 301 tariffs covered nearly half of all Chinese exports to the U.S. By 2019, the effect was visible: Chinese imports fell 16% — from $540B to $452B in a single year.

Mexico was the quiet winner. As supply chains scrambled for alternatives, Mexican factories absorbed orders for appliances, auto parts, and electronics assembly.

2020 – 2023

2023: Mexico overtakes China as America's top supplier

For the first time in 20 years, China was not America's largest source of imports. Mexico reached $476B in 2023, edging past China's $427B. Nearshoring — relocating supply chains to Mexico — had become a structural shift, not just a reaction.

Canada also surged through 2022 — energy exports (oil, gas) spiked with the Ukraine war. Then eased as energy prices normalized in 2023.

2025

Feb 2025 — 25% tariffs on Canada & Mexico; China tariffs raised to 145%

The second wave — and a new target

In February 2025, the U.S. imposed 25% tariffs on Canada and Mexico — tearing up the USMCA framework it had negotiated in 2020. China tariffs were escalated to 145%. January 2025 saw a $43.7B surge in imports from China as companies frontloaded before the deadline.

The logic of nearshoring that drove Mexico's rise now faces its own tariff wall. The trade war has no safe haven left.

Sources

Data is approximate and for illustrative purposes only. Verify against official publications before any decision-making use.

2017