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The US trade deficit slipped modestly in 2025, a year in which President Trump upended global commerce by slapping double digit tariffs on imports from most countries. But the gap in the trade of goods such machinery and aircraft — the main focus of Trump's protectionist policies — hit a record last year despite sweeping import taxes.
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One year in, many producers say tariffs have not helped them, and some countries are rejecting U.S. wine altogether.
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Tariffs paid by midsize US companies tripled last year, a JPMorganChase Institute study shows Associated Press NewsKevin Hassett says Fed researchers should be ‘disciplined' over report that Americans are paying tariffs CNNWhite House eyes punishments for economists who told the truth about tariffs, consumers MS NOWTrump administration slams New York Fed study that says US consumers bear the cost of tariffs Yahoo Finance
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