Donald Trump, tariffs
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Millions of Americans braced for runaway inflation in response to President Donald Trump's aggressive import tariffs. They're still waiting.
President Trump says the U.S. raised more than $600 billion in tariff revenue. He previously suggested sending Americans $2,000 checks as a "dividend" payment.
Alberto Cavallo, an economist at Harvard and the author of a study on the impact of tariffs cited by Trump in his op-ed, has found that Trump’s tariffs have boosted overall inflation by roughly three-quarters of a percentage point.
Bipartisan farming advocates are concerned the industry could “collapse” in the near future, with the combination of a downturn cycle and the policies of the Trump administration putting the sector in a precarious position.
India will reduce tariffs on many U.S. industrial and agricultural goods to zero, marking a significant trade deal win.
Speaker Mike Johnson (R-LA) is facing a risky vote in the House that will block resolutions to repeal President Donald Trump’s tariffs until July, with at least two Republicans firmly against the measure and a handful of others threatening to make passage difficult.
But this time, key Republicans signaled they would likely vote against the measure, Punchbowl reported. “American consumers pay the tariffs and thus it is a big tax,” Rep. Don Bacon of Nebraska told the outlet.