Bloomberg Analysis Puts Annual Tariff-Exposed Rerouted Trade at $300 Billion

Bloomberg reported (opens in a new tab) on April 23 that Altana's supply-chain analysis (opens in a new tab) identified roughly $300 billion a year in tariff-exposed goods reaching the United States through Southeast Asia and Mexico, alongside a 76% increase in activity on suspected transshipment routes during 2025.

These figures indicate the scale of trade-route changes after tariffs rise, not $300 billion in proven fraud. New factories, production changes and lawful rerouting can alter supply chains. The legal question is whether the country of origin declared to CBP reflects what was actually manufactured.

Enforcement requires investigators to test inputs, manufacturing processes and the transformation of goods, not infer fraud from trade flows alone. Where origin declarations are false, the government must pursue the duties and those responsible.