Tracking Trump's Tariffs and Turbulent Trade Talks

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IEEPA Tariffs Update - The Big Picture

Two weeks ago, I wrote “It’s Tariff Week! *.” The asterisk added the word “Hopefully…” “This is likely the week the Supreme Court issues a ruling on the IEEPA tariffs in place since April 2025.” I wrote, getting it totally wrong. It turned out to be (mostly) wishful thinking on my part. As…Read More
ritholtz.com
 

Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts​

  • The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled.
  • Following a month where the trade deficit hit its lowest level since early 2009, it shot up to $56.8 billion, an increase of 94.6% from October.
The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled and the impact of President Donald Trump’s tariffs worked their way through the economy, the Census Bureau reported Thursday.

Following a month where the trade deficit hit its lowest level since early 2009, it shot up to $56.8 billion, an increase of 94.6% from October. Of that gain, about one-third came with the European Union, where the goods deficit rose by $8.2 billion. The goods deficit with China decreased by about $1 billion to $13.9 billion.

More:

Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts

The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled.
www.cnbc.com
 
And in Jan 2025 it was $162,517 billion.
......so why wasn't that a problem? Trump's policy's is what kept from continuing the Biden decline. But Biden was better, huh? lol
 

World leaders flock to Beijing, hedging against U.S. disruptions​

  • At least five world leaders have visited Beijing in January alone.
  • The high-level visits come as countries navigate tense U.S. relations.
  • Business executives are also using the opportunity for China deals.
BEIJING — Countries that shunned China during its trade dispute with the U.S. are now sending their leaders to Beijing for meetings with Chinese President Xi Jinping — and are keen to strike business deals.

At least five national leaders, including British Prime Minister Keir Starmer and Canadian Prime Minister Mark Carney, have visited Xi in January alone. Uruguay’s President Yamandú Orsi is due to make the trip next week — the first by a South American leader since U.S. President Donald Trump captured Venezuelan leader Nicolás Maduro and his wife in early January.

More:

World leaders flock to Beijing, hedging against U.S. disruptions

Nations that avoided China in recent years are now sending their leaders to Beijing for meetings with Chinese President Xi Jinping.
www.cnbc.com
 
I swear, we are driving people to BRICs and into the arms of Russia and China...
 

Trump refuses to be outdone by Europe, signing his own U.S.-India trade deal​

  • The U.S. and India have signed a trade deal, the countries’ leaders announced, although details remain scant.
  • The deal comes days after the European Union and India signed a free trade agreement in which they agreed to slash tariffs on most goods to zero, but over a number of years.
  • The U.S. deal comes after global trading partners have been signing trade pacts, leaving America looking ostracized and isolated.
U.S. President Donald Trump’s announcement Monday that he has agreed a trade deal with India comes hot on the heels of Europe’s own trade agreement with New Delhi, signaling Washington is not willing to be outdone by its global competitors.

The U.S. deal comes after global trading partners like the European Union and India, and China and Canada, have signed their own trade pacts since the new year, leaving America — which has been trigger-happy when it comes to imposing punitive tariffs on trading partners — looking ostracized.

Analysts had said those deals, and particularly the EU-India pact, could “light a fire” under the U.S. to get its own stalled trade agreement with India done and dusted, but it has come quicker than most expected.

More:

Trump refuses to be outdone by Europe, signing his own U.S.-India trade deal

The U.S. deal comes after global trading partners have been signing trade pacts, leaving America looking ostracized and more isolated.
www.cnbc.com
 

Trump to sign executive order quadrupling beef imports from Argentina​

Washington — President Trump is expected to sign an executive order Friday that quadruples the amount of beef imported into the U.S. from Argentina under a new trade agreement with the South American country, according to a senior administration official.

Argentina's Foreign Ministry wrote in a statement that the new agreement, which was signed Thursday, will "grant an unprecedented expansion of preferential access for Argentine beef to its market by 100,000 tons," representing an increase of "$800 million in Argentine beef exports."

More:

https://www.msn.com/en-us/money/mar...s-from-argentina/ar-AA1VPD6w?ocid=socialshare
 
Who the hell is the "leader" of Switzerland, and why should I care? I can't think of a single thing that I would buy from there. Maybe a long gun from decades ago, if the price was super cheap?

After six years of German in the school, I went on vacation in Europe. I expected Switzerland to be a great experience, but my actual encounter was that most Swiss I met WOULD NOT speak German and were...

Trying to give the best spin on this...

Sorry, I failed.

They were snotty French only fucks.

I should have no real problem with the Swiss. But if they all burned from nukes, I would not protest.
 

Who Is Paying for the 2025 U.S. Tariffs? - Liberty Street Economics

Over the course of 2025, the average tariff rate on U.S. imports increased from 2.6 to 13 percent. In this blog post, we ask how much of the tariffs were paid by the U.S., using import data through November 2025. We find that nearly 90 percent of the tariffs’ economic burden fell on U.S. firms...
libertystreeteconomics.newyorkfed.org
 

Investors brace for 'knee-jerk market reaction' to a coming Supreme Court tariff decision​

The US Supreme Court will convene Friday at 10 a.m. ET for the first time in weeks, with markets keyed in on a possible decision around tariffs.

A decision in the case, Learning Resources, Inc. v. Trump, will have significant ramifications for US trade, ranging from President Trump's "Liberation Day" tariffs that have spanned the globe to his regular threats aimed at specific nations.

In imposing many of his sweeping tariffs over the past 14 months, Trump has cited a 1977 law called the International Emergency Economic Powers Act (IEEPA). This case concerns whether it allows tariffs to be imposed as a remedy for the economic emergencies Trump has declared under the law.

A host of outcomes remains possible, with perhaps the only certainty for investors being that markets will react, regardless of how the decision goes. But there's little sense that anything the Supreme Court delivers will be the final word on the issue.

More:

https://www.msn.com/en-us/money/mar...-tariff-decision/ar-AA1WHaVm?ocid=socialshare
 
SCOTUS just released their decision: Trump cannot impose tariffs in the way he has done. It was a 6/3 decision. Will post more when it is available unless someone beats me to it.

Personal note: This is a good thing. T needs to go through congress to do things. We don't need a king.
 


BREAKING: SCOTUS Justice Clarence Thomas dropped straight TRUTH BOMBS in his dissent on the tariffs

He nailed it.

"NEITHER the statutory text nor the Constitution provide a basis for ruling against the President."

"Congress authorized the President to “regulate . . . importation.” Throughout American history, the authority to “regulate importation” has been understood to include the authority to impose duties on imports."

"The meaning of that phrase was beyond doubt by the time that Congress enacted this statute, shortly after President Nixon’s highly publicized duties on imports were UPHELD based on identical language."

"The statute that the President relied on therefore authorized him to impose the duties on imports at issue in these cases."

"Because the Constitution assigns Congress many powers that do not implicate the nondelegation doctrine, Congress may delegate the exercise of many powers to the President."

"Congress has done so repeatedly since the founding, WITH THIS COURT'S BLESSING."



THE GOAT!
 

Reporter: "Hakeem Jeffries called you a wannabe king." Trump: "I call him low IQ. He doesn't even know what a tariff is."

Reporter: "Why not just work with Congress?"

Trump: "I don't have to. I have the right to do tariffs. Always had the right.

We're just going through a little bit more complicated process. Not complicated very much."

Source: @Acyn
 
If he were a King, he woulda gotten a different decision today.

So I guess so much for the dems stupid argument that Trump controls the court.


As for working through congress, why did congress pass the laws delegating that power to the potus in the first place, if all they are gonna do is scream bloody murder when a potus they don't like, uses those powers? The power of potus is to the office. It's not limited by who actually is potus at the time.
 
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