Before they were overturned by the Supreme Court, the Trump administration’s tariffs announced on April 2, 2025, cost U.S. consumers and small businesses a lot of money.
The Supreme Court’s decision eliminated a large number of the Trump Administration’s tariffs, but other tariffs, unrelated to the International Emergency Economic Powers Act, remain.
Canada recently cut a new deal with China. The EU and South America signed a new free trade agreement. Long-time U.S. trade partners are looking to do business elsewhere.