A coalition of top economists has filed a legal brief with the U.S. Supreme Court arguing that President Donald Trump’s sweeping tariff strategy will worsen — not reduce — the U.S. trade deficit.
During Sunday’s broadcast of CNN’s State of the Union, Sen. Chris Murphy (D‑CT) accused President Donald Trump of weaponizing tariffs not to boost U.S. manufacturing.
President Donald Trump ended all trade talks with Canada after revelations that Ontario’s government used the late president Ronald Reagan’s voice in a deceptive commercial criticizing U.S. tariffs — igniting a Reagan ad scandal.
U.S. Treasury Secretary Scott Bessent issued one of the Trump administration’s sharpest rebukes of Beijing to date, warning Monday that China is financing war and is threatening global stability amid growing U.S.-China trade tensions.
President Donald Trump confirmed that his administration is considering sending direct payments of $1,000 to $2,000 to American taxpayers, funded by revenue from his new tariffs on imported goods. The proposal would mark a historic redistribution of tariff income, with Trump describing it as a potential “dividend to the people of America.”
On CNBC’s Squawk Box, Ford CEO Jim Farley applauded President Trump’s proposed 25 percent tariff on heavy‑duty trucks, calling it an opportunity to level the playing field for American manufacturers. He acknowledged, however, that parts tariffs—ranging from 25 to 70 percent—create a major “headwind” for Ford, adding roughly $2 billion in costs. Farley expressed optimism that solutions are within reach through ongoing negotiations with the administration.
Americans are waking up to a bitter reality: their daily cup of coffee costs more than ever. According to the Bureau of Labor Statistics, a coffee price crisis is hitting wallets hard, with prices up 20.9% from last year and 3.6% in just one month—the steepest increase since 2011.
The U.S. Supreme Court is set to hear arguments on whether President Donald Trump exceeded his authority by imposing sweeping tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). Lower courts have ruled that IEEPA does not authorize such broad trade actions without clear congressional approval. Trump’s administration argues otherwise, saying the statute empowers the president to “regulate importation” during declared emergencies, which they interpret to include the power to impose tariffs.
