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May 23, 2025

RealEcon
The Tariff Costs Are Worse Than You Think

Despite recent trade deals with China and the UK, U.S. companies and consumers will face significant tariffs, compliance costs, and uncertainty without a more significant pivot from the Trump adminis…

U.S. President Donald Trump holds a chart next to U.S. Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025.
Article by Jake Colvin RealEcon

May 14, 2025

Trade
Trade Agreements: Deal or No Deal

With allies and adversaries alike impacted by new economic barriers and tariffs, the global map of U.S. trade relationships hangs in question. As the U.S. rethinks its commitments with its trading pa…

Podcast Close up of two people shaking hands.
Podcast by Gabrielle Sierra and Inu Manak Why It Matters

May 9, 2025

United States
U.S.-UK Trade Deal Illustrates Trump’s Shifting Trade Policy

The U.S.-UK trade agreement is Trump’s first since his “Liberation Day” tariff announcements. It could be a possible template for other nations seeking a deal, but it could also have major implicatio…

President Donald Trump wears a suit and tie behind the Resolute Desk. There are members of his cabinet wearing suits behind him. There are golden curtains on the windows.
Expert Brief by Inu Manak

April 30, 2025

Trade
Tariff Turmoil, Part 2: Steel and Dog Gelato

Tariffs have sparked intense debate in Washington, but their consequences land far from Capitol Hill. Tariffs can shape paychecks, shift prices for consumers, and affect markets. At best, tariffs off…

Podcast Sparks fly as a steel worker welds metal in a factory.
Podcast by Gabrielle Sierra, Matthew P. Goodman, Jamie Sychak, and Debbie Hendrickx Why It Matters

April 4, 2025

Trade
What to Know About Trump’s Tariff Authority, Its Cost, and What Comes Next

CFR experts weigh in on President Trump’s raft of new tariffs, including their legality, justification, and effect on U.S. consumers.

President Donald Trump signs an executive order after announcing a plan for tariffs on imported goods during an event Wednesday, April 2, 2025, in the Rose Garden at the White House. At right is Commerce Secretary Howard Lutnick.
Article by Clara Fong and Diana Roy

April 16, 2025

Trade
Tariff Turmoil, Part 1: How Tariffs Are Affecting Farmers

Tariffs are often discussed in big, abstract terms—trade wars, economic strategy, global power struggles. But for ginseng farmers in Wisconsin, their effects are painfully personal. In this episode, …

Podcast Aerial view of tractors harvesting crop.
Podcast by Gabrielle Sierra, Matthew P. Goodman, and Will Hsu Why It Matters

May 9, 2025

Daily News Brief
U.S.-UK Draft Trade Deal

Welcome to the Daily News Brief, CFR’s flagship morning newsletter summarizing the top global news and analysis of the day.  Subscribe to the Daily News Brief to receive it every weekday morning. …

U.S. President Trump announces trade deal with the U.K., at the White House in Washington.
Article by CFR.org Editors

April 1, 2025

Trade
What Are Tariffs?

President Donald Trump has begun his second term imposing tariffs against some of the United States’ leading trading partners to correct what he says are decades of imbalances harmful to the U.S. eco…

A red-helmeted worker lays steel at a factory.
Backgrounder by Anshu Siripurapu and Noah Berman

April 14, 2025

Trade
The Contentious U.S.-China Trade Relationship

President Donald Trump’s trade war with China that began in his first administration has snowballed into greater tensions between the world’s biggest economies, but experts say completely decoupling …

A worker works on the production line of a high-end silk textile enterprise in Fuyang city, East China's Anhui province, March 5, 2025.
Backgrounder by CFR.org Editors