Moody's analysis: Trump's tariffs will peak by the end of 2025

Moody's Analytics predicts that the global tariffs imposed by the Trump administration will peak by the end of 2025. Its Chief Economist for the Asia-Pacific region, Steve Cochrane, stated that by the end of this year, the effective tariff levels in other parts of the world will reach 10%. By the end of 2026, global tariffs, excluding China, will return to pre-tariff levels, with an average import tariff rate of 2.0%. The reason we expect a peak by the end of 2025 is that implementing these tariffs and starting to generate revenue from them takes time. He also emphasized that the tariff war did not last long during the Trump administration, which began in 2018. By 2019, the U.S. economy began to feel the impact of higher tariffs. The Trump administration later also reduced some tariffs