Though details change almost daily, the Trump administration’s continued focus on tariffs will bring higher costs and more uncertainty to the economic landscape. To help advertisers and media companies plan their responses, we have modeled how three tariff scenarios could affect US digital ad spending this year. In this report series, we explain how these scenarios will affect ad spending in four major channels—search, social, connected TV (CTV), and retail media—and who the winners and losers will be.

Editor’s Note: Tariff updates are happening at a breakneck pace. This content is current as of May 21, 2025, but you can stay up to date with all of our latest coverage on the impact of tariffs here.

Key Question: How will tariffs affect digital ad spending in the US?

Key Stat: Even under a heavy tariff scenario, all major digital channels will continue to grow by at least 1.5% YoY in 2025.

This report collection can help you:

• Develop media strategy and allocate budget for campaigns (agencies and brands)
• Showcase opportunities to customers (media platforms)