Trump's fixation on tariffs: a roundup blog post, updated 1-16-26
• Canada Breaks With U.S. to Slash Tariffs on Some Chinese Electric Vehicles
(Matina Stevis-Gridneff, NY Times, 1-16-26)
Prime Minister Mark Carney of Canada announced that Canada would slash tariffs on some Chinese electric vehicles and that, in return, China would reduce tariffs on Canadian canola products.
The tariff changes Mr. Carney announced were modest, but they signal an important break with the United States as Canada seeks to urgently diversify its trading partners and reduce its reliance on the United States.
President Trump has imposed tariffs on some key Canadian exports like lumber, steel and autos. He has also threatened Canadian sovereignty, a shift Mr. Carney has described as a "rupture."
• The $12 billion farm bailout. Trump Bails Out the Farmers He Kneecapped with Tariffs — Again (National Review, 12-9-25)
“It’s becoming part of the Trump playbook. It goes like this:
(1) Farmers overwhelmingly vote for Donald Trump to be president.
(2) Trump imposes enormous tariffs unilaterally, wrecking the export markets that farmers rely on to sell their crops at profitable prices,” the editors said.
(3) "Farmers lobby the Trump administration to give them money at taxpayers’ expense to cope with the effects of the same administration’s trade policy.
(4) Trump bails out the farmers with billions of federal dollars and changes nothing about the tariffs that hurt them in the first place.”
"That looks a lot like what happened in President Trump’s first term, when his trade wars shrank U.S. agricultural exports by $27 billion in just a year and a half, from mid-2018 through 2019. After targeting China with tariffs, the PRC imposed retaliatory tariffs on the United States, hitting soybeans — America’s largest agricultural export — especially hard. Now, the same process is unfolding once more. Trump announced on Monday a $12 billion aid package for farmers injured by his global trade war.
"The proper solution to farmers’ financial woes in 2025 is the same as it was in 2018: end the tariffs. Instead, the Trump administration has chosen to paint over the problem with a $12 billion bailout."
• How Far Can Donald Trump Take Emergency Power? (Jeannie Suk Gersen, New Yorker, 11-6-25)
In the Supreme Court’s tariffs case, the conservative Justices will weigh two conflicting impulses regarding Presidential authority.
• Tracking Trump Tariffs on Countries and Products (NY Times interactive, 7-28-25, excellent graphics)
Since returning to office, President Trump has waged a global trade war without parallel in modern history. Many economists had warned that these sky-high rates, and others around the world could, result in price increases for Americans, who generally bear the costs of higher imports. Perhaps in an indirect acknowledgment of that, Mr. Trump announced in November that he would lift tariffs on bread, beef, tomatoes, bananas, coffee and orange juice.
• Court appears dubious of Trump’s tariffs (Amy Howe, SCOTUS blog, 11-5-25)
"The Supreme Court on Wednesday seemed skeptical of President Donald Trump’s authority to impose sweeping tariffs in a series of executive orders earlier this year. During more than two-and-a-half hours of oral arguments, a majority of the justices appeared to agree with the small businesses and states challenging the tariffs that they exceeded the powers given to the president under a federal law providing him the authority to regulate commerce during national emergencies created by foreign threats.
"The law at the center of the case is the International Emergency Economic Powers Act. Enacted in 1977, the president can invoke it “to deal with any unusual and extraordinary threat, which has its source in whole or substantial part outside the United States, to the national security, foreign policy, or economy of the United States,” if he declares a national emergency “with respect to such threat.” Under Section 1702 of the law, when there is a national emergency, the president may “regulate … importation or exportation” of “property in which any foreign country or a national thereof has any interest.”
---The International Emergency Economic Powers Act: Origins, Evolution, and Use (Congress.gov)
• Key Justices Cast a Skeptical Eye on Trump’s Tariffs (Ann E. Marimow, NY times, 11-5-25)
"The Supreme Court is considering whether the president acted legally when he used a 1977 emergency statute to impose tariffs on scores of countries. A majority of Supreme Court justices on Wednesday asked skeptical questions about President Trump’s use of emergency powers to impose tariffs on imports from nearly every U.S. trading partner, casting doubt on a centerpiece of the administration’s second-term agenda.
"The outcome of the case, which could be decided within weeks or months, has immense economic and political implications for U.S. businesses, consumers and the president’s trade policy.
"Several members of the court’s conservative majority, including Justice Amy Coney Barrett and Justice Neil M. Gorsuch, joined the liberal justices in sharply questioning the Trump administration’s assertion that it has the power to unilaterally impose tariffs without congressional approval.
The three liberal justices, including Justice Sonia Sotomayor, said: “You want to say tariffs are not taxes, but that’s exactly what they are. They are generating money from American citizens.”
• Trump, With Tariffs and Threats, Tries to Strong-Arm Nations to Retreat on Climate Goals (Lisa Friedman, NY Times, 8-27-25)
"The president has made no secret of his distaste for wind and solar in America. Now he’s taking his fossil fuel agenda overseas. Mr. Trump, who has joined with Republicans in Congress to shred federal support for electric vehicles and for solar and wind energy, is applying tariffs, levies and other mechanisms of the world’s biggest economy to induce other countries to burn more fossil fuels. His animus is particularly focused on the wind industry, which is a well-established and growing source of electricity in several European countries as well as in China and Brazil."
• What Trump’s new tariffs mean for pharmaceuticals and ‘patented’ drugs (Vivian Ho, Victoria Craw and Daniel Gilbert, Washington Post, 9-2-25)
Trump said brand-name prescription drugs would be subject to tariffs unless their manufacturers are actively building plants in the United States, sparking some confusion over how the policy would be implemented.
• Donald Trump has a total meltdown after Ontario implements a 25% surcharge on electricity in retaliation for his tariffs (Occupy Democrats, Twitter thread, 3-11-25)
Donald Trump has a total meltdown after Ontario implements a 25% surcharge on electricity in retaliation for his tariffs — whines that "your not even allowed to do that" and announces a "National Emergency on Electricity." Persuasive Facebook article. "Trump pictures himself as an emperor overseeing an ever-expanding American empire."
"In reality, Canada has zero interest in joining the United States. They are their own nation, with a proud history, culture, and civic structure. Why would they want to become part of a country overseen by a doddering, ignorant old man? "
• U.S. Economy Slowed in First Half of 2025 as Tariffs Scrambled Data (Ben Casselman, NY Times, 7-30-25) Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak. “Headline numbers are hiding the economy’s true performance, which is slowing as tariffs take a bite out of activity,” Kathy Bostjancic, chief economist for the insurer Nationwide, wrote in a note to clients.
• History of tariffs in the United States (Wikipedia) Good for an overview of what happened when.
---Protectionism in the United States § 1980s to present
---Tariffs in the second Trump administration
• A Wild Card for the Board Game Business: Trump’s Tariffs (Hannah Ziegler, NY Times, 8-23-25) Trade war uncertainty is forcing board and card game publishers in the United States to make tough decisions, putting the future of the industry in jeopardy.
• Appeals court strikes down many Trump tariffs, but delays enforcement until October (Devan Cole, Katelyn Polantz, Ramishah Maruf, and Elisabeth Buchwald, CNN Business, 8-29-25) A federal appeals court Friday struck down many of President Donald Trump’s historic tariffs, saying he unlawfully leaned on emergency powers to impose the import taxes.
The International Emergency Economic Powers Act does not authorize tariffs like the ones Trump used the law for earlier this year, the Federal Circuit said in an unsigned opinion upholding a lower-court ruling against Trump’s tariffs. The judges noted that Trump’s unprecedented tariffs are an overstep of his power because the ability to impose taxes, including tariffs, is “a core Congressional power” that the Constitution grants to the legislative branch.
Trump has used his sweeping tariffs to reshape not just global trade, but alliances with friendly nations and relationships with adversaries. The levies are a cornerstone of his economic plan.
---Trump’s global tariffs are unlawful, appeals court says (Katherine Faulders, Peter Charalambous, and Steven Portnoy, ABC News, 8-29-25) The tariffs remain in effect as the Trump administration is expected to appeal.
• 'The Economist' editor unpacks the 'biggest trade policy shock' of Trump's tariffs (Terry Gross, Fresh Air, 4-9-25) President Trump's sweeping "Liberation Day" tariffs have upended the global economy, sending stock markets into turmoil. "This is, without a doubt, the biggest trade policy shock, I think, in history," Zanny Minton Beddoes, the editor-in-chief of The Economist, says.
"Trump last week ordered a minimum 10% tax on nearly everything the U.S. buys from other countries. He's also ordered much higher levies on things the country buys from China, Japan and the European Union. However, a lot of those tariffs are in flux, because almost each day the president has either increased some tariffs or paused others." And then he increased them to preposterous proportions.
• Trump’s tariffs are devastating the Halloween industry (Natasha Chen, CNN, 10-2-25)
Zephro’s company, Trick or Trick Studios, produces and imports goods that are sold to more than 10,000 retailers around the world, 65% in the United States. He has paid upwards of $800,000 in tariff costs so far this year. The Halloween and Costume Association said roughly 90% of Halloween products contain at least one component made overseas, most often in China.
• 'Punch our customers in the face.' Farm concerns about Trump tariffs could fuel 2026 races (Bart Jansen USA Today, 10-2-25) Tariffs could become a campaign issue in several states that are highly dependent on trade with open or competitive Senate seats such as Iowa, Michigan and North Carolina.
Trump contends tariffs will bring trillions of dollars to the Treasury and force other countries to negotiate more favorable trade deals. Carmakers in Michigan have largely shielded customers from billions in tariff costs, but polling reveals concerns about prospects for inflation and job cuts.
Soybean farmers such as Caleb Ragland are worried the country's largest agricultural export could lose China as a customer in the trade war.
• Investors could face a bonfire night surprise on Trump tariffs (Gillian Tett, Opinion, Financial Times, 10-3-25) The legal tussle over the president’s trade policy is a result of the way he wields power.
"Now another drama looms: on November 5, the Supreme Court will start to consider whether Trump’s tariffs, introduced under the 1977 International Emergency Economic Powers Act (IEEPA), are legal — or not.
"If they are ultimately deemed illegal, there is a chance the White House may have to repay billions of dollars of tariff revenue to businesses, creating trade and fiscal chaos. It could also undermine Trump’s approach to geoeconomics, the use of economic policy for statecraft, since he currently assumes he can act without asking Congress."
• VIDEO: Trump's tariffs, changing markets and what an uncertain economy means for you (NPR Staff, 10-2-25) "When President Trump came into office, he promised to fuel an economic boom with a magic bullet: tariffs. They're taxes added to a wide range of imports. And money is coming in, more than $30 billion a month so far.
"Eight months into Trump's second term, it's unclear what the larger impact of these tariffs will have on the economy. Despite that, the president keeps promising to roll out new ones. NPR's chief economics correspondent Scott Horsley explains."
• Trump’s tariffs as fiscal folly (Kimberly Clausing Maurice Obstfeld, CEPR, 10-20-25)
"In 2025, the US government underwent a large fiscal switch, with Congress enacting large income tax cuts and the second Trump administration putting new tariffs on goods at levels not seen in the US since the Great Depression. This column evaluates tariffs as a broad tool of fiscal policy, reviewing both tax policy and macroeconomic considerations, and concludes that this fiscal switch will leave most Americans worse off.
"While tariffs can be a useful tool for some circumstances in a rules-based system (for example, as a remedy or safeguard), the Trump administration’s ad hoc deployment of high tariffs against nearly every country in the world does serious harm to US international economic and political relations. The underlying policy aims of tariffs, some of which are laudable, would be far better addressed through other tools. For instance, many other changes in the tax system can raise general revenue, the income tax system can redistribute income, and subsidies can encourage strategic industries, all at a lower efficiency cost than deploying tariffs."
• Why this farmer calls Trump's tariffs a 'complete bust' (Josh Lipton, Yahoo Finance Video, 10-3-25) Farmer and former president of the Missouri Farm Bureau, Blake Hurst, joins Market Domination Overtime host Josh Lipton to discuss Trump's tariff policies and what a bailout and would mean for American farmers. "We put on tariffs, collect money, and then we take that money, which we've collected from American consumers including farmers who buy imported goods. We take that money and give it to the industry that's been hurt by those very same tariffs. Seems to me that it would make a lot more sense to get rid of the middle man, drop the tariffs and again, resume normal trade relations."
• Robert De Niro Slams Trump In Cannes Honorary Palme d’Or Speech: “We Are Fighting Like Hell For The Democracy We Once Took For Granted” (Melanie Goodfellow, Nancy Tartaglione, Deadline, 5-23-25)
An impassioned De Niro used his acceptance speech to address issues he said are facing the artistic community and threatening democracy under the presidency of Donald Trump. “In my country, we are fighting like hell for the democracy we once took for granted. That affects all of us here because the arts are democratic. Art is inclusive, it brings people together. Art embraces diversity and that’s why art is a threat, that’s why we are a threat to autocrats and fascists,” he said.
“America’s philistine president has had himself appointed head of one of our premier cultural institutions,” he continued. “He has cut funding and support to the arts, humanities and education. And now he has announced a 100% tariff on films produced outside of the U.S. Let that sink in. … You can’t put a price on creativity, but apparently you can put a tariff on it.”
“This is not just an American problem, it’s a global one,” he said. “We can’t all just sit back and watch. We have to act and we have to act now, not with violence but with great passion and determination. It’s time for everyone who cares about liberty to organize, to protest — and when there are elections, of course, to vote. Tonight and for the next 11 days we show our strength and commitment by celebrating art in this glorious festival. Libérté, égalité, fraternité.”
• Trump 2.0 tariff tracker (ReedSmith, Trade Compliance Resource Hub, 5-5-25) Reed Smith’s International Trade and National Security team tracks the latest threatened and implemented U.S. tariffs, as well as counter-tariffs Read More