These Trump tariff threats never materialized in 2025

President Donald Trump has made a lot of tariff threats and trade promises this year. Many of them have been embodied in a barrage of new import taxes that have upended decades of US economic policy — but others have yet to be met as 2025 draws to a close.

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Some of Trump’s unrealized threats reflect a broader approach from a president with a track record of using heavy tariffs to pressure other countries into new trade deals, take one-time retaliatory measures, or even punish political critics. At the same time, these sanctions arrived as a growing list of tariffs took effect — from Trump’s punitive new taxes on imported metals, to reciprocal duties with major U.S. trading partners like China — plunging consumers and businesses around the world into uncertainty.

Here’s what Trump said when he announced some of his biggest (but still unfulfilled) tariff threats and promises this year, and where things stand today.

Foreign Revenue Service

In his words:

Trump in a social media post on January 14: “For too long, we have relied on taxing our great people using the Internal Revenue Service (IRS)… We will start charging those who earn our money through trade, and they will finally start paying their fair share. January 20, 2025 will be the birth date of the IRS.”

Trump in his inauguration speech on January 20: “We are creating a Foreign Revenue Service to collect all tariffs, duties and revenues. There will be huge amounts of money flowing into our treasury, coming from foreign sources.”

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What happened: The External Revenue Service had not yet been established as of the end of December. While administration officials continued to reiterate plans to launch the Foreign Revenue Service during Trump’s first months back in office, the entity did not yet exist.

200% tariff on European wines, champagne and spirits

In his words:

Trump in a social media post on March 13: “The European Union, one of the most hostile and abusive tax and tariff authorities in the world, formed for the sole purpose of taking advantage of the United States, has imposed a nasty 50% tariff on whisky. If this tariff is not removed immediately, the United States will soon impose a 200% tariff on all wine, champagne, and alcoholic products coming from France and other representative countries of the European Union.”

What happened: A planned EU tax on American whiskey – unveiled as part of wider retaliation in response to Trump’s new tariffs on steel and aluminum – has been delayed, with the latest delay reported to last until at least February.

Read more: Trump said the proceeds from the tariffs could allow Americans to stop paying income taxes. The math doesn’t add up

Trump’s threat to impose 200% tariffs on European alcohol has not materialized. But spirits were not included in the EU-US trade deal reached over the summer, which set a 15% rate on most European imports.

100% tariff on foreign-made films

In his words:

Trump in a social media post on May 4: “The movie industry in America is dying very quickly… I authorize the Department of Commerce and the United States Trade Representative, to immediately begin the process of imposing a 100% tariff on any and all films coming into our country that are produced in foreign lands.”

Trump in a social media post on September 29: “Our film business has been stolen from the USA, by other countries, just like stealing ‘candy from a child’… I will impose a 100% tariff on any and all films produced outside of the United States.”

Read more: Trump cuts tariffs on beef, coffee and tropical fruits as pressure on consumer prices increases

What happened: Despite Trump’s repeated threats, the United States has not yet imposed a 100% tariff on foreign films. After initially promising in May to begin the process, the White House said no final decision had been made yet. It also remains unclear how the United States will tax films produced abroad.

Customs tariffs on pharmaceutical drugs

In his words:

Trump at the July 8 Cabinet meeting: “We’ll be announcing something very soon about the drugs. We’ll give people about a year, or a year and a half, to come in. After that, they’ll be charged tariffs… They’ll be charged tariffs at a very, very high rate, like 200 percent.”

Trump in a social media post on September 25: “Beginning October 1, 2025, we will impose a 100% tariff on any branded or patented pharmaceutical product, unless the company builds its drug manufacturing plant in America.”

What happened: The President did not sign an executive order imposing a 100% tariff on pharmaceutical products on October 1, and to date, no tax has been imposed. But Trump has previously indicated that steep tariffs on pharmaceutical drugs could go further, telling CNBC in August that he would start with a “small tariff” and perhaps raise the rate to 250%. On the other hand, trade agreements with specific countries set their own prices or exemptions – the UK, for example, gets a 0% tariff on all British medicines exported to the US for three years. The administration also announced deals with specific companies with promises to reduce drug prices.

100% tariff on computer chips

In his words:

Trump on August 6: “We will impose almost a 100% tariff on chips and semiconductors…but if you are building in the USA, there are no tariffs.”

He watches: Trump proposes $12 billion in aid for farmers after a ‘very difficult year’

What happened: 100% of computer chips are not yet operational. When he announced his plans to impose the tax in August, Trump was not specific about the timing. Other details remained scarce.

Definition profits of $2,000

In his words:

Trump in a social media post on November 9: “People who oppose tariffs are fools!… Dividends of at least $2,000 per person (not including high-income people!) will be paid to everyone.”

What happened: Details about how, when and whether tariff gains will reach Americans remain scarce. Budget experts said the calculations don’t make sense. Treasurer Scott Besent noted that this may not mean checks from the government. Instead, Besant told the ABC in November, the rebate could take the form of tax cuts. White House National Economic Council Director Kevin Hassett also told CBS News that it is up to Congress.