tariffs
17 briefs
Tariffs Struck Down, Tariffs Coming Back
The Supreme Court ruled Trump's emergency tariff powers unconstitutional. The administration is already routing around the ruling.
The Iran War Is Costing the World Enough to Buy a Recession. Nobody Is Presenting the Bill.
The IMF says the war has already erased gains from the AI boom and is pushing the world toward its adverse scenario. The markets price a 28.5% chance of US recession. The price is rising.
Trump Threatens to Fire Powell. The Market Says He Won't Get What He Wants Either Way.
The Federal Reserve chair's term ends May 15, but his replacement can't get confirmed, a criminal investigation is blocking the vote, and Powell says he's staying. No one is getting a rate cut.
The Court Ordered $133 Billion Back. Now What?
The Supreme Court struck down Trump's IEEPA tariffs. A federal court ordered refunds. Trump is already testing a workaround using a different statute. The constitutional crisis is just starting.
Billions in Tariff Refunds Are Coming. Consumers Won't See a Dollar.
The Supreme Court struck down Trump's tariffs and ordered $133 billion in refunds. A CFO survey found most companies plan to keep the money. 86% of CEOs now treat tariffs as permanent anyway.
The Fed Has No Good Options Left
A Federal Reserve study confirms tariffs drove 3.1% cumulative inflation. Consumer spending is holding. Growth is stalling. The Fed cannot cut rates into a supply shock without making it worse.
The $166 Billion Waiting Room
The Supreme Court ordered a tariff refund. The money doesn't exist yet. Meanwhile Trump has already replaced the struck-down tariffs with a new legal theory a trade court is currently shredding.
The Shoulder Missile Gambit
Trump threatened China with 50% tariffs over a reported MANPADS shipment to Iran. The shipment is unverified. The tariff is untriggered. Both sides are using the threat as a bargaining chip before a May summit.
Two Drug Prices at Once
Trump is simultaneously threatening 100% tariffs on brand-name drugs that do not cut prices and expanding Medicare's power to negotiate drug prices downward. These are opposite levers. One of them is a bluff.
Tariff Whack-a-Mole
After SCOTUS killed the IEEPA tariffs, Trump pivoted to Section 122. Now that too is before a federal court, and the question is whether any statutory authority can sustain his trade policy.
The War That Came Home at the Pump
American consumer sentiment just hit its lowest point on record. The cause is not the stock market. It is the price of gas, and gas is expensive because of a war the administration started.
The Tariff That Outlived Its Legal Theory
Trump's 10% global tariff is standing on a 1974 law the Supreme Court already gutted, and a panel of judges just told him so.
Trump's Backup Tariff Plan Is in Court. It Has a 150-Day Clock and a Dubious Legal Theory.
After the Supreme Court killed his IEEPA tariffs in February, Trump pivoted to Section 122 of the Trade Act. The new 10% global levy requires a real 'balance-of-payments deficit' and expires in 150 days. Both conditions are working against him.
The Court Took Away the President's Tariff Gun. He's Already Looking for Another One.
SCOTUS killed $166 billion in tariffs in February. By April, Trump was threatening new 50% levies with no named legal authority.
Trump Threatened 50% Tariffs on Iran's Arms Suppliers. The Supreme Court Already Took Away His Authority to Do That.
Hours after signing a two-week ceasefire with Iran, Trump announced tariffs on any country arming Tehran. citing no legal basis, just days after the Supreme Court stripped his primary enforcement mechanism.
Trump Threatened 50% Tariffs on Iran's Arms Suppliers. He Has No Law to Do It With.
The same Supreme Court that struck down $166 billion in IEEPA tariffs in February is now being asked to validate a new 50% tariff threat posted on Truth Social. The UK is expecting to be hit. No one has named the legal authority.
The $166 Billion Tax Nobody Gets Back
The Supreme Court ruled Trump's tariffs illegal. American businesses and families paid $166 billion. One year later, the government has not issued a single refund. and is imposing new tariffs to replace the overturned ones.