Since early 2025, tariff policies have changed frequently in the United States, affecting revenues from tariffs as well as the economy. To develop its budget and economic projections and inform Congress, CBO regularly estimates the effects of changes in tariff policy. CBO has developed several analytical frameworks to consistently estimate those effects. One such framework is the Conventional Tariff Analysis Model, which is used to estimate the effects of tariffs on revenues and imports from each U.S. trading partner.
