Since Mr. Trump came into office in January, the average effective U.S. tariff rate has soared to 16.6 percent from 2.5 percent, according to tracking by the Budget Lab at Yale University, a nonpartisan research center. That’s a dramatic increase compared with the president’s first term, when it rose to 2.5 percent from 1.5 percent, … Read More

The U.S. kitchen cabinet industry supports 250,000 jobs and bolsters countless local economies. In fact, 95% of the industry consists of family-owned companies, with 40% in rural communities. Unfortunately, these family-run companies are now facing assault from overseas. Over the past decade, the U.S. kitchen cabinet industry has been inundated by a surge of imports. … Read More

In May, hundreds of workers at a furniture factory here got a nice surprise. Their Chinese bosses were giving them a nearly 45% raise. Factory owner Ren Li said so many other Chinese factories were moving to Vietnam to avoid high U.S. tariffs that he needed to give his workers a big increase to keep … Read More

Free trade agreements delivered negligible economic gains: All U.S. trade deals through 2017 increased exports by only 1.6%, while imports surged 3.4%. China and NAFTA caused massive U.S. job losses: Between 1999 and 2011, trade from China displaced 2.0 to 2.4 million jobs, while NAFTA led to a net loss of 1.02 million jobs from … Read More

General Motors has accumulated sales growth of 12% in the first quarter of the year and 9% in the second quarter of 2025, enjoying its best start to a year in its history. Some of the group’s subsidiaries, such as Buick (specializing in SUVs and crossovers), have grown 29% so far this year, while Chevrolet … Read More

There’s no doubt that TSMC has seen massive attention when it comes to setting up fabs in America, especially after the coming of the Trump administration. When the Taiwan giant announced investments of more than $100 billion into the U.S., it managed to get the government’s attention, and TSMC declared that they have made the … Read More

Did President Donald Trump outfox the world with his tariff plan? Maybe, according to Torsten Sløk, the chief economist at Apollo Global Management. On Saturday, Sløk published a blog post titled “Has Trump Outsmarted Everyone On Tariffs?” In it, he explains a possible scenario in which Trump keeps tariffs below his highest threatened rates just … Read More

Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that thus far the surge in tariffs has had a more modest impact on the economy relative to what was expected. “Somewhat surprisingly, thus far, the impact of tariffs has not been what people feared,” Goolsbee said in public comments before the Milwaukee Business … Read More

The European Union on Friday banned Chinese firms from government medical device purchases worth more than five million euros ($5.8 million) in retaliation for limits Beijing places on access to its own market. The latest salvo in trade tensions between the 27-nation bloc and China covers a wide range of healthcare supplies, from surgical masks … Read More

The study identifies three broad personas: value-first shoppers, buy-American advocates, and the indifferent middle consumer. Nearly 4 in 10 consumers surveyed (39%) identify as value-first shoppers. These consumers are focused on price. They’re trading down, cutting nonessentials, and swapping name brands for generics. For them, tariffs are a cost burden, and that’s the end of … Read More