USA

CFR

The National Security Costs of Trump’s Tariffs

27 July 2025 -

President Donald Trump has been wielding tariffs to confront a range of national security threats: fentanyl, illegal immigration, the trade deficit, steel, aluminum and other imports deemed threatening. But looking at the national security ledger, the costs of those tariffs are starting to become clearer than the benefits, especially for the U.S. defense industry, critical infrastructure, and relations with partners and allies.