Import Surges and Tariff Avoidance: The Short-Term Impact of the Trump Administration’s Trade Policies

Key Points

• U.S. import volumes dramatically increased in Q1 2025 as importers stocked up on goods to avoid tariffs, with aggregate import values exceeding historical trends by 26 percent. This pattern reversed in April and May as aggregate import values returned to levels consistent with historical trends.

• Dramatic import surges were particularly evident in early 2025 from Ireland and Switzerland as importers stockpiled pharmaceuticals and precious metals.

• We estimate that the new tariffs raised $42.7 billion in revenue between October 2024 and May 2025 relative to a counterfactual projection with no change in tariff rates.

• Importers have avoided $6.5 billion in tariffs, equivalent to 13.1 percent of new revenue, by accelerating purchases and changing their purchasing patterns in response to the new tariff regime.

Note: This brief has been revised on July 22, 2025 to correct an earlier data issue.

The U.S. International Trade Commission recently released detailed trade and tariff data through May 2025. This data allows us to provide an initial assessment of the impact of the Trump administration’s tariffs on U.S. imports and customs revenue and to examine how import behavior has changed in response to the new tariff regime. While this analysis is a retrospective examination of the impact of tariffs through May 2025, PWBM also provides a tariff simulator that can be used to forecast the impact of tariffs on U.S. imports and customs revenue.

Figure 1 illustrates the surge in U.S. import values that began in late 2024. In the first quarter of 2025, imports were 26 percent higher than historical trends would suggest. By April, the surge largely receded, with imports falling 17.5 percent month-over-month and returning to trend. May data confirms that imports have reverted to historical levels, declining 3.7 percent from April.

The import surge receded as the Trump administration’s tariff policies went into effect, suggesting that importers were stockpiling goods to avoid new tariffs.1 As shown in Figure 2, the overall effective tariff rate rose to 8.8 percent in May, up from just 2.2 percent in January.2

Among major trading partners, China has seen the largest tariff increase, with May imports facing an effective rate of 47.8 percent. At the product level, steel and aluminum products and automotive vehicles were the most heavily tariffed products, with effective rates reaching 26.9 percent and 18.8 percent in May.

Higher tariff rates have produced a significant rise in customs revenue so far in 2025. PWBM’s Real-Time Federal Budget Tracker shows that between January 1 and July 10, 2025, the U.S. collected $52 billion more in customs duties than over the same period in 2024, an increase of about 111 percent.3

The surge in imports during the first quarter of 2025 was not evenly distributed across countries or product categories. Below, we examine trade data at the country and product levels to identify how trade patterns have changed in response to the new tariff regime.

To quantify how imports from individual countries have responded, we define a country-level import surge as the percentage difference between a country’s actual imports and its projected historical trend. In Figure 4, we plot this surge percentage for the period between October 2024 and May 2025 against a country’s historical share of U.S. imports, for all trading partners with an import share of at least 1 percent. This measure captures anticipatory imports that may have started after the 2024 presidential election through the most recent monthly data release by the USITC.

Figure 4 reveals significant geographical heterogeneity in the import response to the new administration’s tariff policy. In Figure 5, we focus on the dynamic responses of three sets of trading partners. The first row of Panel A shows the response of imports from the most important North American trading partners, Canada and Mexico. The second row shows the response for the two European countries with the largest response, Ireland and Switzerland. The third row shows the response for China, the most important Asian trade partner, and a set of countries in Southeast Asia, including the ASEAN countries and Taiwan.

Among the biggest U.S. trading partners, Canada experienced a large initial surge in imports that receded in March and fell below trend in April and May. In contrast, Mexican imports have not deviated significantly from trend.

In Europe, Switzerland and Ireland stand out as extreme outliers across the global distribution of import responses. Between October 2024 and May 2025, Switzerland’s imports were more than 200 percent larger than trend, while Irish imports were 69 percent higher than normal. Figure A1 in the appendix shows how imports grew at the product level for each of these countries. The Swiss import surge was driven by imports of precious metals—Switzerland is a major hub for gold bullion, which traders started importing en masse in December as a precaution against potential tariffs on gold.4 Ireland, a major pharmaceutical hub, saw a similar anticipatory spike in pharmaceutical imports. A large percentage of Irish imports have consisted of blockbuster weight loss drugs. Similar to Switzerland, Irish imports have fallen back to trend in April, but pharmaceutical products may soon face new tariffs following the conclusion of an ongoing Section 232 investigation that could lead to high taxes on such imports in the future.5 The large import response of gold and pharmaceutical products indicates that anticipatory tariff avoidance may be easier for high-value goods that can be transported and stored at a relatively low cost.

In Asia, China experienced a large initial import surge around the election that peaked in December and January, suggesting that importers correctly anticipated large tariff increases on Chinese goods. Around the same time, imports from Southeast Asian countries began to accelerate, consistent with substitution and transshipment of imports through neighboring countries. Taiwan’s surge appears driven by anticipatory imports of machinery and electronics equipment, reflecting efforts to secure supply chains ahead of potential semiconductor tariffs, as shown in Figure A1.

Although we have focused on the dynamic responses of a few countries, Panel B of Figure 5 shows the aggregate dynamic response for other U.S. trading partners, demonstrating that the import surge in early 2025 was a global phenomenon.

The second Trump administration has used two major authorities to implement its tariff policies: Section 232 of the Trade Expansion Act and the International Emergency Economic Powers Act (IEEPA).

Tariffs imposed under IEEPA have targeted broad sets of products for different countries.6 Section 232, in contrast, has been used to impose tariffs on specific types of imports. During the first Trump administration, tariffs imposed under Section 232 targeted steel and aluminum imports. These tariffs continued under the Biden administration. In 2025, the same authority has been used to impose higher steel and aluminum tariffs as well as tariffs on automobiles and auto parts. More recently, the administration has launched Section 232 investigations that could lead to tariffs on other products, including pharmaceuticals and semiconductors.

Figure 6 shows how imports responded to potential tariffs on product categories that have either previously been targeted or are subject to investigation under Section 232. Imports across these categories have not reacted uniformly to the new tariff regime. There are evident import surges in auto parts, pharmaceuticals, semiconductors, and steel and aluminum. However, finished vehicle imports have declined relative to historical trends, although this decline appears to have started in mid-2024.

As shown in Figure 3, customs revenue has increased substantially since the start of the Trump administration as a result of higher tariffs. The timing of the import surge, however, largely preceded the major tariff increases to date.

In Figure 7, we examine how much tariff revenue would have been collected if importers had not accelerated purchases or changed their purchasing patterns—this is the “mechanical” revenue effect of the tariff rate increase, shown in red. Between October and December 2024, this effect is small as effective tariff rates did not materially change. In January 2025, this effect began to grow as some Biden-era tariff increases came into force, and then accelerated between February and May as the Trump administration’s tariffs took effect. In total, we estimate that tariff revenue would have been $49.1 billion dollars over this period if importers had not accelerated purchases or changed their purchasing patterns.

In blue, we show the change in tariff revenue that we attribute to changes in import behavior, computed as the difference between actual tariff revenue and the mechanical revenue effect. Imports began to accelerate in late 2024, initially leading to tariff revenue slightly above what would have been expected given historical import trends. In recent months, this effect has turned negative, indicating that changes in import behavior have significantly reduced tariff revenue. In total, we estimate that shifts in purchasing patterns lowered tariff revenue by $6.5 billion dollars between October and May, equivalent to a 13.1 percent decrease relative to a baseline projection that assumes no changes in import behavior.

Overall, we estimate that tariff rate changes have raised $42.7 billion dollars in customs revenue between October 2024 and May 2025.

This analysis was produced by Wanling Luo, Lysle Boller, and Xiaoyue Sun. Mariko Paulson prepared the brief for the website. Media (only): For the fastest response, email us at [email protected]. All other responses: Please use our Contact Us. Sign up for PWBM Breaking News, Alerts and Newsletter. Unsubscribe anytime. region country date post_cutoff value_adj fit ci_low ci_high period North America Canada 1/1/2022 FALSE 33.6617919 36.8669873 33.3990368 40.3349378 Jan-22 North America Canada 2/1/2022 FALSE 34.3073279 36.769141 33.3175847 40.2206974 Feb-22 North America Canada 3/1/2022 FALSE 38.3712696 36.6807638 33.2431479 40.1183797 Mar-22 North America Canada 4/1/2022 FALSE 37.7878912 36.5829175 33.159763 40.006072 Apr-22 North America Canada 5/1/2022 FALSE 38.2289233 36.4882276 33.078083 39.8983723 May-22 North America Canada 6/1/2022 FALSE 39.4723478 36.3903814 32.9926504 39.7881123 Jun-22 North America Canada 7/1/2022 FALSE 37.7899816 36.2956915 32.9089664 39.6824165 Jul-22 North America Canada 8/1/2022 FALSE 38.1703547 36.1978452 32.8214417 39.5742488 Aug-22 North America Canada 9/1/2022 FALSE 36.0571523 36.099999 32.7328386 39.4671593 Sep-22 North America Canada 10/1/2022 FALSE 34.3755123 36.0053091 32.6460587 39.3645594 Oct-22 North America Canada 11/1/2022 FALSE 34.1853667 35.9074628 32.5553088 39.2596168 Nov-22 North America Canada 12/1/2022 FALSE 35.7974779 35.8127729 32.4664373 39.1591085 Dec-22 North America Canada 1/1/2023 FALSE 36.9310533 35.7149267 32.3735137 39.0563396 Jan-23 North America Canada 2/1/2023 FALSE 35.0100722 35.6170804 32.2794776 38.9546833 Feb-23 North America Canada 3/1/2023 FALSE 34.9063857 35.5287032 32.1935823 38.863824 Mar-23 North America Canada 4/1/2023 FALSE 33.7757634 35.4308569 32.0974193 38.7642946 Apr-23 North America Canada 5/1/2023 FALSE 34.3713189 35.336167 32.0032914 38.6690426 May-23 North America Canada 6/1/2023 FALSE 33.533368 35.2383208 31.904923 38.5717185 Jun-23 North America Canada 7/1/2023 FALSE 32.8045104 35.1436309 31.8086609 38.4786009 Jul-23 North America Canada 8/1/2023 FALSE 35.5014333 35.0457846 31.7080891 38.3834801 Aug-23 North America Canada 9/1/2023 FALSE 35.0452337 34.9479384 31.6064012 38.2894756 Sep-23 North America Canada 10/1/2023 FALSE 36.2901265 34.8532485 31.5069343 38.1995626 Oct-23 North America Canada 11/1/2023 FALSE 36.4802721 34.7554022 31.4030622 38.1077423 Nov-23 North America Canada 12/1/2023 FALSE 34.8681609 34.6607123 31.3014918 38.0199328 Dec-23 North America Canada 1/1/2024 FALSE 35.405613 34.5628661 31.1954586 37.9302735 Jan-24 North America Canada 2/1/2024 FALSE 36.681058 34.4650198 31.0883385 37.8417012 Feb-24 North America Canada 3/1/2024 FALSE 32.7208029 34.3734862 30.9871532 37.7598193 Mar-24 North America Canada 4/1/2024 FALSE 34.4348035 34.27564 30.8779555 37.6733245 Apr-24 North America Canada 5/1/2024 FALSE 33.398216 34.1809501 30.7712727 37.5906274 May-24 North America Canada 6/1/2024 FALSE 32.9927424 34.0831038 30.6600039 37.5062038 Jun-24 North America Canada 7/1/2024 FALSE 35.4039662 33.9884139 30.551339 37.4254889 Jul-24 North America Canada 8/1/2024 FALSE 32.3266702 33.8905677 30.4380464 37.343089 Aug-24 North America Canada 9/1/2024 FALSE 34.8960723 33.7927214 30.3237452 37.2616977 Sep-24 North America Canada 10/1/2024 TRUE 34.213577 33.6980315 30.2121844 37.1838787 Oct-24 North America Canada 11/1/2024 TRUE 33.6113662 33.6001853 30.0959409 37.1044296 Nov-24 North America Canada 12/1/2024 TRUE 36.9877643 33.5054954 29.9825288 37.028462 Dec-24 North America Canada 1/1/2025 TRUE 40.3798993 33.4076491 29.8644024 36.9508958 Jan-25 North America Canada 2/1/2025 TRUE 38.3084895 33.3098029 29.745343 36.8742627 Feb-25 North America Canada 3/1/2025 TRUE 34.1299412 33.2214256 29.6370173 36.805834 Mar-25 North America Canada 4/1/2025 TRUE 29.1242712 33.1235794 29.5162281 36.7309307 Apr-25 North America Canada 5/1/2025 TRUE 27.962796 33.0288895 29.3984933 36.6592856 May-25 Asia China 1/1/2022 FALSE 45.3958498 44.9091147 38.0823163 51.7359131 Jan-22 Asia China 2/1/2022 FALSE 46.0829014 44.5092088 37.714683 51.3037347 Feb-22 Asia China 3/1/2022 FALSE 49.7106713 44.1480036 37.3809201 50.915087 Mar-22 Asia China 4/1/2022 FALSE 44.6136137 43.7480977 37.0094821 50.4867133 Apr-22 Asia China 5/1/2022 FALSE 43.5995991 43.361092 36.6480868 50.0740973 May-22 Asia China 6/1/2022 FALSE 48.5005919 42.9611862 36.2726178 49.6497546 Jun-22 Asia China 7/1/2022 FALSE 43.6899034 42.5741805 35.9072777 49.2410833 Jul-22 Asia China 8/1/2022 FALSE 46.453341 42.1742747 35.5276901 48.8208593 Aug-22 Asia China 9/1/2022 FALSE 43.9939664 41.7743688 35.1459798 48.4027578 Sep-22 Asia China 10/1/2022 FALSE 39.9014947 41.3873631 34.7745453 48.000181 Oct-22 Asia China 11/1/2022 FALSE 39.7018297 40.9874573 34.3886089 47.5863057 Nov-22 Asia China 12/1/2022 FALSE 39.9236369 40.6004516 34.0130571 47.1878462 Dec-22 Asia China 1/1/2023 FALSE 36.1665965 40.2005458 33.6228415 46.77825 Jan-23 Asia China 2/1/2023 FALSE 34.0977644 39.8006399 33.2304361 46.3708437 Feb-23 Asia China 3/1/2023 FALSE 33.8821042 39.4394346 32.8741167 46.0047525 Mar-23 Asia China 4/1/2023 FALSE 36.6013657 39.0395288 32.4775243 45.6015332 Apr-23 Asia China 5/1/2023 FALSE 36.1036636 38.6525231 32.0916251 45.2134211 May-23 Asia China 6/1/2023 FALSE 34.0932444 38.2526172 31.6906913 44.8145432 Jun-23 Asia China 7/1/2023 FALSE 34.1399111 37.8656116 31.3005906 44.4306325 Jul-23 Asia China 8/1/2023 FALSE 33.6630363 37.4657057 30.8953195 44.0360919 Aug-23 Asia China 9/1/2023 FALSE 34.7454279 37.0657999 30.4878511 43.6437487 Sep-23 Asia China 10/1/2023 FALSE 37.3761874 36.6787942 30.0914418 43.2661466 Oct-23 Asia China 11/1/2023 FALSE 37.5758525 36.2788883 29.6796738 42.8781029 Nov-23 Asia China 12/1/2023 FALSE 37.3540453 35.8918827 29.2791236 42.5046417 Dec-23 Asia China 1/1/2024 FALSE 34.3540769 35.4919768 28.8631014 42.1208522 Jan-24 Asia China 2/1/2024 FALSE 35.7358574 35.092071 28.4449395 41.7392024 Feb-24 Asia China 3/1/2024 FALSE 32.3237477 34.7179655 28.0518343 41.3840966 Mar-24 Asia China 4/1/2024 FALSE 34.7015438 34.3180596 27.6295827 41.0065365 Apr-24 Asia China 5/1/2024 FALSE 36.2132605 33.931054 27.2189686 40.6431393 May-24 Asia China 6/1/2024 FALSE 33.3226869 33.5311481 26.7926398 40.2696564 Jun-24 Asia China 7/1/2024 FALSE 38.0867087 33.1441424 26.3781238 39.9101611 Jul-24 Asia China 8/1/2024 FALSE 35.8001459 32.7442366 25.9478111 39.540662 Aug-24 Asia China 9/1/2024 FALSE 37.1771289 32.3443307 25.5155131 39.1731483 Sep-24 Asia China 10/1/2024 TRUE 38.6257856 31.9573251 25.0952964 38.8193537 Oct-24 Asia China 11/1/2024 TRUE 38.7481805 31.5574192 24.659175 38.4556634 Nov-24 Asia China 12/1/2024 TRUE 41.4413018 31.1704135 24.2353138 38.1055133 Dec-24 Asia China 1/1/2025 TRUE 42.2409757 30.7705077 23.7954857 37.7455296 Jan-25 Asia China 2/1/2025 TRUE 38.0343029 30.3706018 23.353821 37.3873827 Feb-25 Asia China 3/1/2025 TRUE 30.416856 30.0093965 22.9533463 37.0654468 Mar-25 Asia China 4/1/2025 TRUE 28.4377862 29.6094907 22.5082764 36.710705 Apr-25 Asia China 5/1/2025 TRUE 20.7132895 29.222485 22.0759059 36.3690641 May-25 Europe Ireland 1/1/2022 FALSE 6.58789736 6.0187131 3.91240926 8.12501694 Jan-22 Europe Ireland 2/1/2022 FALSE 7.03387685 6.07664507 3.98029844 8.1729917 Feb-22 Europe Ireland 3/1/2022 FALSE 6.75687479 6.12897072 4.041091 8.21685043 Mar-22 Europe Ireland 4/1/2022 FALSE 6.87330985 6.18690268 4.10780628 8.26599908 Apr-22 Europe Ireland 5/1/2022 FALSE 7.13292343 6.24296588 4.17177118 8.31416057 May-22 Europe Ireland 6/1/2022 FALSE 7.57528768 6.30089784 4.23724275 8.36455293 Jun-22 Europe Ireland 7/1/2022 FALSE 4.96663668 6.35696104 4.29999053 8.41393154 Jul-22 Europe Ireland 8/1/2022 FALSE 5.04431002 6.414893 4.36419137 8.46559464 Aug-22 Europe Ireland 9/1/2022 FALSE 4.9734146 6.47282497 4.42773731 8.51791263 Sep-22 Europe Ireland 10/1/2022 FALSE 6.63121353 6.52888816 4.48860473 8.56917159 Oct-22 Europe Ireland 11/1/2022 FALSE 7.14641924 6.58682013 4.55084677 8.62279349 Nov-22 Europe Ireland 12/1/2022 FALSE 6.74219241 6.64288332 4.61044386 8.67532278 Dec-22 Europe Ireland 1/1/2023 FALSE 6.56673109 6.70081529 4.67136563 8.73026494 Jan-23 Europe Ireland 2/1/2023 FALSE 6.62419905 6.75874725 4.73161173 8.78588278 Feb-23 Europe Ireland 3/1/2023 FALSE 6.65399627 6.8110729 4.78544485 8.83670095 Mar-23 Europe Ireland 4/1/2023 FALSE 4.67888624 6.86900487 4.84439913 8.89361061 Apr-23 Europe Ireland 5/1/2023 FALSE 6.5639576 6.92506806 4.9008037 8.94933242 May-23 Europe Ireland 6/1/2023 FALSE 7.66126565 6.98300003 4.95841852 9.00758154 Jun-23 Europe Ireland 7/1/2023 FALSE 7.26524601 7.03906322 5.01352679 9.06459965 Jul-23 Europe Ireland 8/1/2023 FALSE 6.81253252 7.09699519 5.06980339 9.12418699 Aug-23 Europe Ireland 9/1/2023 FALSE 6.40024814 7.15492715 5.12540204 9.18445227 Sep-23 Europe Ireland 10/1/2023 FALSE 7.22288665 7.21099035 5.17856389 9.2434168 Oct-23 Europe Ireland 11/1/2023 FALSE 6.70768094 7.26892231 5.23283597 9.30500866 Nov-23 Europe Ireland 12/1/2023 FALSE 7.11190778 7.32498551 5.28472023 9.36525079 Dec-23 Europe Ireland 1/1/2024 FALSE 7.62652183 7.38291747 5.33767974 9.42815521 Jan-24 Europe Ireland 2/1/2024 FALSE 7.12307438 7.44084944 5.38997909 9.49171979 Feb-24 Europe Ireland 3/1/2024 FALSE 7.37027922 7.49504386 5.43831144 9.55177628 Mar-24 Europe Ireland 4/1/2024 FALSE 9.22895419 7.55297583 5.48934896 9.61660269 Apr-24 Europe Ireland 5/1/2024 FALSE 7.08426925 7.60903902 5.53812814 9.6799499 May-24 Europe Ireland 6/1/2024 FALSE 5.54459694 7.66697099 5.5879077 9.74603427 Jun-24 Europe Ireland 7/1/2024 FALSE 8.54926759 7.72303418 5.63548301 9.81058535 Jul-24 Europe Ireland 8/1/2024 FALSE 8.92430774 7.78096615 5.68403342 9.87789887 Aug-24 Europe Ireland 9/1/2024 FALSE 9.40748754 7.83889811 5.73197129 9.94582494 Sep-24 Europe Ireland 10/1/2024 TRUE 10.7307217 7.89496131 5.77778772 10.0121349 Oct-24 Europe Ireland 11/1/2024 TRUE 11.4439498 7.95289327 5.82454592 10.0812406 Nov-24 Europe Ireland 12/1/2024 TRUE 7.30333205 8.00895647 5.86923791 10.148675 Dec-24 Europe Ireland 1/1/2025 TRUE 13.5343043 8.06688843 5.91485249 10.2189244 Jan-25 Europe Ireland 2/1/2025 TRUE 16.1625764 8.1248204 5.95990039 10.2897404 Feb-25 Europe Ireland 3/1/2025 TRUE 28.0481411 8.17714605 6.00011008 10.354182 Mar-25 Europe Ireland 4/1/2025 TRUE 9.02864458 8.23507801 6.04410735 10.4260487 Apr-25 Europe Ireland 5/1/2025 TRUE 13.1803518 8.29114121 6.08617394 10.4961085 May-25 North America Mexico 1/1/2022 FALSE 36.546382 36.6922824 34.4955223 38.8890424 Jan-22 North America Mexico 2/1/2022 FALSE 35.8925813 36.8658735 34.6794983 39.0522487 Feb-22 North America Mexico 3/1/2022 FALSE 37.7541813 37.0226654 34.8451208 39.2002101 Mar-22 North America Mexico 4/1/2022 FALSE 37.9688999 37.1962565 35.0278724 39.3646407 Apr-22 North America Mexico 5/1/2022 FALSE 37.2119783 37.3642479 35.2041048 39.524391 May-22 North America Mexico 6/1/2022 FALSE 37.922463 37.537839 35.3855593 39.6901187 Jun-22 North America Mexico 7/1/2022 FALSE 37.787073 37.7058304 35.5605223 39.8511384 Jul-22 North America Mexico 8/1/2022 FALSE 37.4408955 37.8794215 35.7406515 40.0181915 Aug-22 North America Mexico 9/1/2022 FALSE 37.7339869 38.0530126 35.9200977 40.1859275 Sep-22 North America Mexico 10/1/2022 FALSE 38.0692132 38.221004 36.0930996 40.3489083 Oct-22 North America Mexico 11/1/2022 FALSE 37.7251305 38.3945951 36.2711859 40.5180042 Nov-22 North America Mexico 12/1/2022 FALSE 39.1829791 38.5625865 36.4428629 40.68231 Dec-22 North America Mexico 1/1/2023 FALSE 40.2296306 38.7361776 36.6195722 40.8527829 Jan-23 North America Mexico 2/1/2023 FALSE 38.8442648 38.9097686 36.7955768 41.0239604 Feb-23 North America Mexico 3/1/2023 FALSE 40.9776892 39.0665606 36.953941 41.1791802 Mar-23 North America Mexico 4/1/2023 FALSE 37.6154485 39.2401517 37.1285983 41.3517051 Apr-23 North America Mexico 5/1/2023 FALSE 39.1609753 39.4081431 37.2969458 41.5193404 May-23 North America Mexico 6/1/2023 FALSE 39.5357686 39.5817342 37.4702061 41.6932623 Jun-23 North America Mexico 7/1/2023 FALSE 38.715466 39.7497256 37.6372015 41.8622496 Jul-23 North America Mexico 8/1/2023 FALSE 39.3685044 39.9233167 37.8090662 42.0375672 Aug-23 North America Mexico 9/1/2023 FALSE 37.9814749 40.0969078 37.9802238 42.2135918 Sep-23 North America Mexico 10/1/2023 FALSE 40.7589512 40.2648991 38.1451892 42.3846091 Oct-23 North America Mexico 11/1/2023 FALSE 41.1030338 40.4384902 38.3149632 42.5620173 Nov-23 North America Mexico 12/1/2023 FALSE 39.6451852 40.6064816 38.4785962 42.734367 Dec-23 North America Mexico 1/1/2024 FALSE 41.4662339 40.7800727 38.6470013 42.9131441 Jan-24 North America Mexico 2/1/2024 FALSE 43.5054004 40.9536638 38.8147179 43.0926097 Feb-24 North America Mexico 3/1/2024 FALSE 39.510376 41.1160555 38.9709957 43.2611152 Mar-24 North America Mexico 4/1/2024 FALSE 42.6578981 41.2896466 39.1373963 43.4418969 Apr-24 North America Mexico 5/1/2024 FALSE 41.8692929 41.457638 39.2977909 43.6174851 May-24 North America Mexico 6/1/2024 FALSE 40.7840149 41.6312291 39.4628794 43.7995787 Jun-24 North America Mexico 7/1/2024 FALSE 41.7397075 41.7992205 39.6220184 43.9764225 Jul-24 North America Mexico 8/1/2024 FALSE 41.4328465 41.9728115 39.7858251 44.159798 Aug-24 North America Mexico 9/1/2024 FALSE 42.5267848 42.1464026 39.9489929 44.3438124 Sep-24 North America Mexico 10/1/2024 TRUE 43.7317117 42.314394 40.1062974 44.5224906 Oct-24 North America Mexico 11/1/2024 TRUE 42.9877772 42.4879851 40.2682349 44.7077353 Nov-24 North America Mexico 12/1/2024 TRUE 42.5323127 42.6559765 40.4243667 44.8875863 Dec-24 North America Mexico 1/1/2025 TRUE 45.919336 42.8295676 40.5851115 45.0740237 Jan-25 North America Mexico 2/1/2025 TRUE 44.8680921 43.0031587 40.7452652 45.2610522 Feb-25 North America Mexico 3/1/2025 TRUE 45.4993827 43.1599507 40.8894209 45.4304804 Mar-25 North America Mexico 4/1/2025 TRUE 41.5106969 43.3335418 41.0484789 45.6186047 Apr-25 North America Mexico 5/1/2025 TRUE 44.5020267 43.5015331 41.2018725 45.8011937 May-25 Europe Switzerland 1/1/2022 FALSE 4.21249473 5.18270832 2.97453772 7.39087892 Jan-22 Europe Switzerland 2/1/2022 FALSE 5.42760422 5.14203307 2.94430124 7.3397649 Feb-22 Europe Switzerland 3/1/2022 FALSE 9.00861892 5.10529414 2.91643871 7.29414957 Mar-22 Europe Switzerland 4/1/2022 FALSE 4.51616305 5.06461889 2.88497156 7.24426622 Apr-22 Europe Switzerland 5/1/2022 FALSE 4.41757149 5.02525575 2.85389227 7.19661923 May-22 Europe Switzerland 6/1/2022 FALSE 4.45076571 4.9845805 2.82112127 7.14803973 Jun-22 Europe Switzerland 7/1/2022 FALSE 4.17434539 4.94521736 2.78876599 7.10166873 Jul-22 Europe Switzerland 8/1/2022 FALSE 4.79852326 4.90454211 2.7546628 7.05442143 Aug-22 Europe Switzerland 9/1/2022 FALSE 4.82192952 4.86386687 2.71987303 7.0078607 Sep-22 Europe Switzerland 10/1/2022 FALSE 4.85548788 4.82450372 2.68554647 6.96346098 Oct-22 Europe Switzerland 11/1/2022 FALSE 4.8613916 4.78382848 2.64938974 6.91826721 Nov-22 Europe Switzerland 12/1/2022 FALSE 4.72152176 4.74446533 2.61373141 6.87519926 Dec-22 Europe Switzerland 1/1/2023 FALSE 5.03949239 4.70379009 2.57619056 6.83138962 Jan-23 Europe Switzerland 2/1/2023 FALSE 4.71113595 4.66311484 2.53794136 6.78828833 Feb-23 Europe Switzerland 3/1/2023 FALSE 2.74321404 4.62637591 2.5027828 6.74996901 Mar-23 Europe Switzerland 4/1/2023 FALSE 5.30975653 4.58570066 2.46317931 6.70822201 Apr-23 Europe Switzerland 5/1/2023 FALSE 5.46239359 4.54633752 2.42417406 6.66850098 May-23 Europe Switzerland 6/1/2023 FALSE 4.493533 4.50566227 2.38316632 6.62815822 Jun-23 Europe Switzerland 7/1/2023 FALSE 3.96995324 4.46629913 2.34280208 6.58979618 Jul-23 Europe Switzerland 8/1/2023 FALSE 4.31398363 4.42562388 2.3003914 6.55085636 Aug-23 Europe Switzerland 9/1/2023 FALSE 4.1698129 4.38494864 2.25727 6.51262728 Sep-23 Europe Switzerland 10/1/2023 FALSE 4.23440391 4.34558549 2.2148652 6.47630579 Oct-23 Europe Switzerland 11/1/2023 FALSE 4.22850019 4.30491025 2.17035306 6.43946743 Nov-23 Europe Switzerland 12/1/2023 FALSE 4.36837003 4.2655471 2.12660888 6.40448533 Dec-23 Europe Switzerland 1/1/2024 FALSE 4.38285055 4.22487186 2.08072069 6.36902302 Jan-24 Europe Switzerland 2/1/2024 FALSE 3.49609751 4.18419661 2.03414042 6.3342528 Feb-24 Europe Switzerland 3/1/2024 FALSE 1.88300472 4.14614557 1.9899438 6.30234734 Mar-24 Europe Switzerland 4/1/2024 FALSE 3.80891809 4.10547033 1.94204068 6.26889997 Apr-24 Europe Switzerland 5/1/2024 FALSE 3.7548726 4.06610718 1.89504125 6.23717312 May-24 Europe Switzerland 6/1/2024 FALSE 4.69053896 4.02543194 1.84581932 6.20504455 Jun-24 Europe Switzerland 7/1/2024 FALSE 5.49053905 3.98606879 1.79755779 6.1745798 Jul-24 Europe Switzerland 8/1/2024 FALSE 4.52233078 3.94539355 1.74704727 6.14373982 Aug-24 Europe Switzerland 9/1/2024 FALSE 4.64309525 3.9047183 1.69589459 6.11354201 Sep-24 Europe Switzerland 10/1/2024 TRUE 5.66015169 3.86535516 1.64578912 6.08492119 Oct-24 Europe Switzerland 11/1/2024 TRUE 5.35311995 3.82467991 1.59339971 6.05596011 Nov-24 Europe Switzerland 12/1/2024 TRUE 13.6802116 3.78531677 1.54211542 6.02851812 Dec-24 Europe Switzerland 1/1/2025 TRUE 24.0505983 3.74464152 1.48852709 6.00075595 Jan-25 Europe Switzerland 2/1/2025 TRUE 20.3133743 3.70396628 1.43434466 5.97358789 Feb-25 Europe Switzerland 3/1/2025 TRUE 16.7903934 3.66722734 1.38490381 5.94955087 Mar-25 Europe Switzerland 4/1/2025 TRUE 5.80980654 3.6265521 1.32961996 5.92348424 Apr-25 Europe Switzerland 5/1/2025 TRUE 2.99980048 3.58718895 1.27558329 5.89879462 May-25 Asia ASEAN+Taiwan 1/1/2022 FALSE 34.8499082 33.7154117 26.2761833 41.1546401 Jan-22 Asia ASEAN+Taiwan 2/1/2022 FALSE 34.6751039 33.8083651 26.4043044 41.2124257 Feb-22 Asia ASEAN+Taiwan 3/1/2022 FALSE 38.9452265 33.8923229 26.5181665 41.2664794 Mar-22 Asia ASEAN+Taiwan 4/1/2022 FALSE 36.77569 33.9852763 26.6421415 41.3284111 Apr-22 Asia ASEAN+Taiwan 5/1/2022 FALSE 36.7023353 34.0752312 26.7600043 41.390458 May-22 Asia ASEAN+Taiwan 6/1/2022 FALSE 35.1894403 34.1681845 26.8795867 41.4567823 Jun-22 Asia ASEAN+Taiwan 7/1/2022 FALSE 32.8147642 34.2581394 26.9931508 41.523128 Jul-22 Asia ASEAN+Taiwan 8/1/2022 FALSE 34.87018 34.3510927 27.1082451 41.5939404 Aug-22 Asia ASEAN+Taiwan 9/1/2022 FALSE 33.712106 34.4440461 27.2210263 41.6670658 Sep-22 Asia ASEAN+Taiwan 10/1/2022 FALSE 35.8560609 34.5340009 27.3279492 41.7400527 Oct-22 Asia ASEAN+Taiwan 11/1/2022 FALSE 35.1732462 34.6269543 27.4361253 41.8177834 Nov-22 Asia ASEAN+Taiwan 12/1/2022 FALSE 34.8258451 34.7169092 27.5385614 41.8952569 Dec-22 Asia ASEAN+Taiwan 1/1/2023 FALSE 34.4762763 34.8098625 27.6420745 41.9776506 Jan-23 Asia ASEAN+Taiwan 2/1/2023 FALSE 33.7571734 34.9028159 27.7432011 42.0624307 Feb-23 Asia ASEAN+Taiwan 3/1/2023 FALSE 31.8980194 34.9867738 27.8324832 42.1410643 Mar-23 Asia ASEAN+Taiwan 4/1/2023 FALSE 30.925658 35.0797271 27.9290472 42.230407 Apr-23 Asia ASEAN+Taiwan 5/1/2023 FALSE 31.7263639 35.169682 28.0202078 42.3191562 May-23 Asia ASEAN+Taiwan 6/1/2023 FALSE 32.0180016 35.2626353 28.112041 42.4132297 Jun-23 Asia ASEAN+Taiwan 7/1/2023 FALSE 31.301078 35.3525902 28.1986232 42.5065572 Jul-23 Asia ASEAN+Taiwan 8/1/2023 FALSE 32.0424771 35.4455435 28.28573 42.6053571 Aug-23 Asia ASEAN+Taiwan 9/1/2023 FALSE 31.3981648 35.5384969 28.3704423 42.7065515 Sep-23 Asia ASEAN+Taiwan 10/1/2023 FALSE 34.4896634 35.6284518 28.45015 42.8067536 Oct-23 Asia ASEAN+Taiwan 11/1/2023 FALSE 35.1724782 35.7214051 28.530177 42.9126332 Nov-23 Asia ASEAN+Taiwan 12/1/2023 FALSE 35.5198792 35.81136 28.6053724 43.0173476 Dec-23 Asia ASEAN+Taiwan 1/1/2024 FALSE 36.192402 35.9043133 28.6807635 43.1278631 Jan-24 Asia ASEAN+Taiwan 2/1/2024 FALSE 37.0863092 35.9972667 28.7538231 43.2407103 Feb-24 Asia ASEAN+Taiwan 3/1/2024 FALSE 34.6753407 36.0842231 28.8200753 43.3483708 Mar-24 Asia ASEAN+Taiwan 4/1/2024 FALSE 37.8172385 36.1771764 28.8886783 43.4656746 Apr-24 Asia ASEAN+Taiwan 5/1/2024 FALSE 37.0898875 36.2671313 28.9529068 43.5813557 May-24 Asia ASEAN+Taiwan 6/1/2024 FALSE 38.3111448 36.3600846 29.0170668 43.7031025 Jun-24 Asia ASEAN+Taiwan 7/1/2024 FALSE 41.4027444 36.4500395 29.0770434 43.8230356 Jul-24 Asia ASEAN+Taiwan 8/1/2024 FALSE 38.6059295 36.5429929 29.1368622 43.9491236 Aug-24 Asia ASEAN+Taiwan 9/1/2024 FALSE 40.4083157 36.6359462 29.1945175 44.0773749 Sep-24 Asia ASEAN+Taiwan 10/1/2024 TRUE 42.6997792 36.7259011 29.248282 44.2035202 Oct-24 Asia ASEAN+Taiwan 11/1/2024 TRUE 42.1983722 36.8188544 29.3017708 44.3359381 Nov-24 Asia ASEAN+Taiwan 12/1/2024 TRUE 45.0498036 36.9088093 29.3515639 44.4660547 Dec-24 Asia ASEAN+Taiwan 1/1/2025 TRUE 47.0816968 37.0017627 29.4010136 44.6025117 Jan-25 Asia ASEAN+Taiwan 2/1/2025 TRUE 46.4868077 37.094716 29.4484619 44.7409702 Feb-25 Asia ASEAN+Taiwan 3/1/2025 TRUE 48.053825 37.1786739 29.4896276 44.8677202 Mar-25 Asia ASEAN+Taiwan 4/1/2025 TRUE 50.7906173 37.2716272 29.5333652 45.0098893 Apr-25 Asia ASEAN+Taiwan 5/1/2025 TRUE 51.5805751 37.3615821 29.5738856 45.1492786 May-25