The magnitude of tariff refunds the Trump administration must dole out is now outpacing how much money it’s bringing in through the import taxes, and it’s dealing a new blow of damage to
The Trump administration has returned more than $100 billion to U.S. businesses and importers that paid his global tariffs, and the money is quickly heating up the economy. The refunds are already boosting bottom lines,
The federal government’s tariff windfall is evaporating faster than expected, and the Congressional Budget Office says it’s blowing a $200 billion hole in this year’s budget. CBO now projects the fiscal 2026 deficit will
President Donald Trump announced a new round of retaliatory tariffs on July 20 against Canada, invoking the Depression-era Smoot-Hawley Tariff Act in a game of tit for tat that can have no winner. The administration argues
For months, Amazon would not say whether it planned to seek a refund on the tariffs President Donald Trump imposed under emergency powers. In May, that silence became a legal problem when consumers filed a
Trump’s tariffs are headed to court — again. Two lawsuits filed by small businesses are challenging Trump’s sweeping tariffs announced Thursday that impose double-digit levies on 60 trading partners. The tariffs, implemented under Section 301 of
