Key points Bacon signals Trump’s new tariff order will be defeated by Congress — quick explainer Rep. Don Bacon’s public comment that Congress “won’t” back the administration’s replacement tariff is a blunt political signal: even with an executive order in hand, the White House faces a tough legislative path if it wants Congress to formally … Read more
Key points What happened — US treasuries fall The U.S. Supreme Court struck down the broad tariffs imposed under the administration’s emergency authority, ruling that the law used didn’t give the president the power to levy economy-wide import duties. Traders immediately re-priced the outlook: if those tariffs are invalidated, previously collected duties may need to … Read more
Key points What the study actually did — plain language The report, by staff economists at the Federal Reserve Bank of New York and a co-author at Columbia, used monthly trade and price data through November 2025 to compare changes in foreign exporters’ prices with changes in U.S. tariff rates for specific goods. The method … Read more
Key points Why this matters (1-minute explainer) When importers bring goods into the United States, they must have a customs bond that guarantees payment of duties, fees and other liabilities. Recent Trump tariffs increases tied to the Trump administration’s trade policy raised the dollar value of duties importers owe — and because CBP calculates continuous … Read more