At a Glance
- Trump threatened 100% tariffs on foreign films, 200% on EU alcohol, and a $2,000 dividend.
- None of these measures have been enacted by December 2024.
- The administration still plans an External Revenue Service that has not been created.
- Why it matters: Consumers and businesses face uncertainty as potential tariffs could raise costs and affect trade flows.
Throughout 2024, President Donald Trump announced a series of high-profile tariff threats and promises. While some levies have been imposed, many of his bold statements have yet to be realized. The following overview details the unfulfilled promises and their current status.
Unfulfilled Tariff Promises
The administration’s most ambitious tariff threats have stalled or been postponed.
Karoline Leavitt stated:
> “President Donald Trump is “committed” to sending $2,000 rebate checks using the revenue from tariffs on imported goods.”
President Donald Trump posted on January 14:
> “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.”
President Donald Trump in his inauguration address on January 20:
> “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.”
President Donald Trump on March 13:
> “The European Union … 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 WINE, CHAMPAGNE, & ALCOHOLIC PRODUCTS coming out of France and other EU countries.”
President Donald Trump on May 4:
> “The Movie Industry in America is DYING a very fast death … I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.”
President Donald Trump on July 8:
> “We’ll be announcing something very soon on pharmaceuticals. We’re going to give people about a year, a year and a half, to come in. And after that, they’re going to be tariffed … They’re going to be tariffed at a very, very high rate, like 200%.”
President Donald Trump on August 6:
> “We’ll be putting a tariff of approximately 100% on chips and semiconductors … But if you’re building in the United States of America, there’s no charge.”
President Donald Trump on November 9:
> “People that are against Tariffs are FOOLS! … A dividend of at least $2000 a person (not including high income people!) will be paid to everyone.”
Treasury Secretary Scott Bessent told ABC in November:
> “The rebate might take the form of tax cuts.”
National Economic Council Director Kevin Hassett told CBS News:
> “It’s up to Congress.”
Status of Each Threat
| Threat | Current Status |
|---|---|
| External Revenue Service | Not established |
| 200% EU alcohol tariff | Not enacted; EU delay |
| 100% foreign film tariff | Not enacted |
| 100% pharma tariff | Not enacted |
| 100% chip tariff | Not enacted |
| $2000 dividend | No checks issued |
The table summarizes that none of Trump’s most publicized tariff promises have been implemented by the end of 2024.
Key Takeaways
- Trump’s 2024 tariff threats-including 100% foreign film, 200% EU alcohol, and a $2000 dividend-remain unrealized.
- The proposed External Revenue Service, intended to collect tariff revenue, has not been created.
- Treasury officials indicate that the dividend may be delivered via tax cuts, and Congress holds the final decision.
These stalled measures underscore the uncertainty for consumers and businesses awaiting potential new trade barriers and financial relief.
