All articles tagged with #economic policy
Canada announced up to 50% tariffs on hundreds of U.S. products in retaliation for U.S. tariffs, with tariffs on steel and aluminum doubling to 50% and levies on about 700 other items taking effect Sept. 8, signaling a deepening cross-border trade dispute between long-standing allies.
Farmers warn that tariff-driven costs for fertilizer, fuel and machinery—accelerated by Trump’s tariffs and the Iran conflict—are squeezing margins just as Congress stalls on a $12 billion emergency farm-aid package and a broader farm bill, forcing growers to cut costs and diversify to survive.
America's national debt has surged past $40 trillion as chronic deficits keep the government borrowing, and a bond-market sell-off signals higher borrowing costs ahead; with political will fractured, lawmakers face unpalatable choices on taxes and spending as elections loom, raising fears of a debt spiral if reforms stall.
The United States has imposed 50% tariffs on Canada after trade talks failed to avert the measures, and Canada said it would match the tariffs dollar-for-dollar, escalating tensions as the new duties take effect.
The U.S. national debt is expected to top $40 trillion this week, several months ahead of forecasts, driven in part by lost revenue from President Trump’s invalidated tariffs, and signaling an earlier debt-ceiling fight.
The United States and Canada are close to a deal to avert punitive 50 percent tariffs on Canadian goods such as hockey sticks, wine and cement, with possible concessions on energy and defense in exchange for shelving new tariffs—an outcome that could bolster efforts to renegotiate the North American trade deal fromTrump’s first term.
POLITICO Playbook reports that Republican economic thinking is shifting from pure free-market orthodoxy to more interventionist, populist capitalism, led by Pence’s network, a growing embrace of tariffs, and new frames like covenant economics and common-good capitalism from Hawley and Rubio, signaling a broader ideological realignment ahead of 2028—kept relatable to voters with the burrito-cost debate as a symbol of everyday concerns.
The U.S. Treasury permanently repealed a rule requiring domestic companies to report their beneficial owners to federal financial-crimes investigators; foreign-owned entities and funds must still report foreign ownership, and Treasury will delete existing data on U.S. owners. Supporters say the move reduces compliance burdens without compromising security, while critics warn it could aid criminals by weakening ownership scrutiny.
Republicans are debating whether a burrito could cost $20, using the discussion to highlight rising food prices and affordability concerns that are shaping political messaging and strategies ahead of the midterms.
The White House is restarting its bid to remove Federal Reserve governor Lisa Cook, sending a notice with a 21-day response deadline over unproven mortgage fraud allegations after the Supreme Court blocked a prior attempt, highlighting tensions over Fed independence.
Senate Republicans are racing to pass a stopgap spending bill to avert a government shutdown ahead of the midterm elections, while also moving a package to fund the Iran war and inflation-battered farmers, and pushing to confirm 74 nominees and advance votes on Russia sanctions and a cryptocurrency bill before leaving town.
Small businesses have filed lawsuits challenging President Trump's sweeping tariffs, arguing the measures will harm small firms and could reshape U.S. trade policy.
The Trump administration announced permanent tariffs aimed at countering forced labor in goods, replacing expiring measures and affecting about 60 countries, including major U.S. trading partners; critics say the move is also part of a broader push to curb reliance on imports.
House Speaker Mike Johnson aims to move a stopgap funding bill to avert a government shutdown and a $95 billion package for the Pentagon, farmers, and election security before August recess, but intra-party divisions and Trump-aligned voting restrictions complicate passage ahead of the November midterms.
President Donald Trump announced a 25% tariff on goods from Brazil after a year-long review found unfair trade practices; several imports are exempt (civil aircraft, beef, yellowfin tuna, pharmaceuticals, coffee, fruit and nuts), with the levies set to take effect July 22 and more tariffs expected under Section 301. The move follows a Supreme Court ruling that had curtailed his authority, and the United States has run a trade surplus with Brazil in recent years.