Trump made a barrage of tariff threats in 2025. Some never materialised
Here’s what Trump said when announcing some of his biggest tariff threats and promises this year, and where things stand today.
By Wyatte Grantham-Philips
January 2, 2026 — 5.30am
President Donald Trump made a lot of tariff threats and trade promises in 2025. Many materialised into a barrage of new import taxes that overturned decades of US economic policy — but others have yet to be fulfilled after the year has finished.
Some of Trump’s unrealised threats reflect a broader approach from a president with a track record of using sky-high levies to pressure other countries into new trade deals, one-up retaliatory measures or even punish political critics.
Donald Trump made a lot of tariff threats and trade promises in 2025, but not all have come to pass.Credit: AP
At the same time, they arrived as growing list of tariffs did go into effect — from Trump’s punishing new taxes on imported metals, to tit-for-tat levies with top US trading partners like China — plunging consumers and businesses worldwide into uncertainty.
Here’s what Trump said when announcing some of his biggest (but still unrealised) tariff threats and promises this year, and where things stand today.
External Revenue Service
In his words:
1. Trump in a January 14 social media post: “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS) … We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share. January 20, 2025, will be the birth date of the External Revenue Service.”
2. Trump in his January 20 inaugural address: “We are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our Treasury, coming from foreign sources.”
What happened: The External Revenue Service has yet to be established as of the end of December. While administration officials continued to reiterate plans for launching the External Revenue Service during Trump’s first months back in office, the entity does not yet exist.
200 per cent tariff on European wine, 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 taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES.”