Trump made many tariff threats in 2025. Here are some that never materialized
President Donald Trump made many tariff threats and trade promises this year. Many materialized in an avalanche of new import taxes that overturned decades of American economic policy, but others have yet to be met as 2025 draws to a close.
Some of Trump’s unrealized threats reflect a broader approach by a president with a history of using sky-high taxes to pressure other countries into signing new trade deals, taking retaliatory measures or even punishing political critics. At the same time, they came as a growing list of tariffs — from Trump’s punitive new taxes on imported metals to tit-for-tat taxes with major U.S. trading partners like China — went into effect, plunging consumers and businesses around the world into uncertainty.
Here’s what Trump said when announcing some of his biggest (but still unfulfilled) tariff threats and promises this year, and the current situation.
External Tax Service
In his words:
1. Trump in a Jan. 14 social media post: “For too long, we have relied on collecting taxes from our Great People using the Internal Revenue Service (IRS)… We will begin collecting Commerce from those who make money with us, and they will FINALLY begin paying their fair share. January 20, 2025 will be the birthdate of the IRS.”
2. Trump in his January 20 inaugural address: “We are establishing the External Revenue Service to collect all the tariffs, duties and revenues. It will be huge amounts of money coming into our Treasury, from foreign sources.”
What happened: As of the end of December, the External Revenue Service has not yet been established. While administration officials continued to reiterate plans to launch the External Revenue Service during Trump’s first months in office, the entity does not yet exist.
200% tariff on European wines, champagne and spirits
In his words:
3. Trump in a March 13 social media post: “The European Union, one of the most hostile and abusive tax and tariff authorities in the world, which was formed for the sole purpose of taking advantage of the United States, just imposed a nasty 50% tariff on whiskey. If this tariff is not removed immediately, the US will soon impose a 200% tariff on all WINES, CHAMPAGNE AND PRODUCTS “ALCOHOLICS LEAVING FRANCE AND OTHER COUNTRIES REPRESENTED BY THE EU.”
What Happened: The EU’s planned tax on American whiskey, which it unveiled as part of a broader retaliation in response to Trump’s new steel and aluminum tariffs, has been postponed; the latest delay will reportedly last at least until February.
Trump’s threat to impose a 200% tariff on European alcohol never materialized. But spirits were not included in the EU-US trade deal reached over the summer, which set a 15% duty on most European imports.
Chip Somodevilla via Getty Images
100% tariff on films made abroad
In his words:
4. Trump in a May 4 social media post: “The film industry in the United States is DYING a very quick death…I authorize the Department of Commerce and the United States Trade Representative to immediately begin the process of instituting a 100% tariff on any and all films coming into our country and produced in foreign lands.”
5. Trump in a September 29 social media post: “Our movie production business has been stolen from the United States of America, by other countries, just like stealing ‘candy from a baby’… I will impose a 100% tariff on any and all movies made outside the United States.”
What happened: Despite Trump’s repeated threats, the United States has yet to impose a 100% tariff on foreign films. After its initial promise in May to begin the process, the White House said no final decision had been made. It is also unclear how the United States would tax a film made abroad.
Tariffs on pharmaceutical drugs
In his words:
6. Trump at a Cabinet meeting on July 8: “We’re going to announce something very soon on pharmaceuticals. We’re going to give people about a year, a year and a half, to come. And after that, they’re going to be hit with tariffs… They’re going to be hit with tariffs at a very, very high rate, like 200 percent.”
7. Trump in a social media post on September 25: “Starting October 1, 2025, we will impose a 100% tariff on any patented or brand-name pharmaceutical product, unless a company IS BUILDING its pharmaceutical manufacturing plant in the United States.”
What Happened: The president did not sign an executive order imposing a 100% tariff on pharmaceuticals on October 1, and to this day, no tax has been implemented. But Trump previously suggested that high taxes on pharmaceutical drugs could come later, telling CNBC in August that he would start by charging a “small tariff” and potentially increase the rate to 250%. Meanwhile, trade agreements with specific countries establish their own rates or exemptions; The United Kingdom, for example, guarantees a 0% tariff on all British medicines exported to the United States for three years. The administration also announced agreements with specific companies with promises of lower drug prices.
100% tariff on computer chips
In his words:
8. Trump on August 6: “We will impose a tariff of approximately 100% on chips and semiconductors… But if you are building in the United States of America, there is no charge.”
What Happened: A radical 100% overhaul of computer chips has yet to take effect. When he announced his plans to impose the tax in August, Trump was not specific about the timing. And other details remain scarce.
Tariff dividend of $2,000
In his words:
9. Trump in a Nov. 9 social media post: “People who are against tariffs are DUMB!… Everyone will be paid a dividend of at least $2,000 per person (not including high earners!).”
What Happened: Details on how, when and if a tariff dividend will reach Americans are still scarce. Budget experts have said the math doesn’t add up. And Treasury Secretary Scott Bessent suggested it may not mean government controls. Instead, Bessent told ABC in November, the refund could take the form of tax cuts. White House National Economic Council Director Kevin Hassett also told News that it’s up to Congress.