Trade

In 2025, two lower federal courts ruled that the U.S. president lacked statutory authority to unilaterally impose broad tariffs under an emergency-powers law.

The U.S. federal government collected roughly $215 billion in tariffs in fiscal year 2025 (October 1, 2024–September 30, 2025), according to the U.S. Treasury Department.

The U.S. Treasury Department reported that the U.S. federal government collected roughly $215 billion in tariffs during the 2025 fiscal year, which ran from October 2024 to September 30, 2025.

In 2024, China purchased $12.6 billion worth of soybeans from the United States, according to U.S. Department of Agriculture data.

In 2018, the U.S. government provided more than $20 billion in aid to American farmers in response to retaliatory tariffs imposed by China during the U.S.-China trade dispute.

United States Department of Agriculture data shows China purchased $12.6 billion in U.S. soybeans in 2014, while the European Union purchased $2.45 billion in U.S. soybeans in 2014.

International trade disputes that involve tariffs or other restrictions can reduce export markets for crops such as soybeans and cause significant financial harm to soybean farmers.

Tariffs on imports can provoke retaliatory tariffs from affected trading partners.

China has been the largest buyer of U.S. agricultural exports.

The United States imposed a 40% tariff on certain Brazilian exports covering sectors such as petroleum, soybeans, sugar, coffee, and iron and steel products.

Section 301 of the Trade Act of 1974 authorizes U.S. investigations into alleged unfair or discriminatory trade practices, and such investigations have historically been used as a prelude to imposing tariffs or broader economic sanctions.

Brazil is the United States' third-largest foreign supplier of meat, behind Australia and Canada.