Topic
Economy & Trade
Tariffs, trade wars, tax and budget law, and market-moving executive action - with the documented cost to consumers, businesses, farmers, and the federal balance sheet.
- decisions
- 24
- severe or critical
- 14
- sources cited
- 169
All economy & trade decisions, newest first
Forced-labor tariffs replace the expired global surcharge
As the Section 122 surcharge expired, 10-12.5% forced-labor tariffs took effect on 60 economies that supply 99.4% of US imports.
A 1930 law revived for 50% tariffs on Canada
The first tariffs expressly imposed under Section 338 put 50% duties on Canadian goods, with no USMCA exemption, and Canada hit back on US$20 billion of US exports.
A 25% tariff on Brazil, round two
After the Supreme Court struck down his IEEPA tariffs, Trump hit Brazil again under Section 301, effective July 22.
Iran-war oil shock has cost US drivers $100B+
Gas hit $4.56 in May, eased after the June ceasefire, then climbed back to $4.48 in September. Americans have paid over $100B extra for gasoline and diesel.
Supreme Court strikes down IEEPA tariffs
Court ruled tariffs are reserved to Congress, invalidating the basis for most 2025 tariffs.
ACA subsidies expire, premiums spike
Enhanced marketplace tax credits lapsed; KFF estimates enrollees' premium payments rose 58% on average in 2026.
DOJ investigates Federal Reserve Chair Powell
A criminal probe that Powell said was meant to pressure the Fed on rates was dropped in April 2026, before his term as chair ended.
Tariffs hit drugs and furniture
New Section 232 levies span pharmaceuticals, trucks, furniture, and chips.
Duty-free package exemption ends
The $800 de minimis break ended for all countries, adding fees to cheap imports.
Trump moves to fire a Fed governor
A bid to fire a Fed governor and reshape the board.
401(k)s opened to crypto, private equity
An executive order eases alternative assets such as private equity and crypto into retirement plans.
Trump fires BLS jobs-data chief
Commissioner ousted after a weak report, after Trump said she had "faked" the numbers.
2025 tariffs cost average household $2,400
Yale Budget Lab found the burden is about three times larger as a share of income for the lowest-income households than for the highest.
"Big Beautiful Bill": $4.5T tax cuts, +$3.4T deficit
Tax cuts weighted to top earners, paid for partly by Medicaid and SNAP cuts, adding ~$3.4T to the debt.
Tariffs add measurable inflation in summer
Import-exposed goods such as video equipment and floor coverings posted record price jumps in June 2025.
Manufacturing sheds jobs in Trump's first year
Payrolls fell after Liberation Day, with durable-goods makers hit hardest.
US GDP contracts 0.6% in Q1
The first contraction since 2022 reflected a pre-tariff import surge and slowing spending.
US-China tariffs escalate to 145%
A near-total tariff barrier coincided with US imports from China falling to about half of 2024 levels; the de minimis exemption for China also ended.
Liberation Day tariffs trigger $6T+ selloff
Tariffs on nearly every trading partner set off a market selloff that brought the S&P 500 near bear-market territory.
25% tariff on all imported autos
Analysts projected new-vehicle price increases of $2,000 to $12,000; GM estimated at least $4B in 2025 tariff costs.
China tariffs cost US farmers $14.9B
China's countermeasures cut US farm exports by $14.9B, about 41% more than the 2018-19 trade war's annualized losses.
Steel and aluminum tariffs reinstated globally
25% tariffs on all countries raised US input costs and triggered allied retaliation.
China tariffs hit 145% in 2025
Initial fentanyl tariffs doubled by March 2025; Liberation Day later drove rates to 145%.
25% tariffs on Canada and Mexico
Tariffs on the two largest US trading partners were projected to raise prices (Brookings) and triggered retaliation.