A Chinese flag flutters at top of a building of China Customs, at a terminal of the Yantian port in Shenzhen, Guangdong province, China October 30, 2025.The U.S. trade deficit swelled in December, closing out a year in which the imbalance was essentially unchanged despite efforts by the Trump administration to close the wide gap.Closing out a tumultuous year in the global marketplace, the goods and services shortfall in December totaled $70.3 billion, the Commerce Department reported Thursday. That marked a ...

Core Viewpoint - The article argues that tariff adjustments will not alleviate the economic damage experienced by Main Street businesses, highlighting the limitations of such measures in addressing broader economic challenges [1] Group 1: Economic Impact - Main Street businesses have suffered significant economic damage, which cannot be resolved solely through tariff changes [1] - The article emphasizes that the negative effects on local economies are deep-rooted and require more comprehensive solutions beyond tariffs [1] Group 2: Tariff Policy - The discussion on tariff policy indicates that while adjustments may be made, they are unlikely to provide the necessary relief for struggling businesses [1] - The article suggests that the focus on tariffs may distract from addressing the underlying issues affecting Main Street [1]

Core Viewpoint - The furniture industry is facing significant challenges due to high import tariffs and ongoing uncertainty, which have exacerbated existing struggles within the sector [3][4][6]. Industry Challenges - Furniture importers are currently subject to around 25% import duties, which were initially set to increase to 50% but have been postponed to 2027 [4][5]. - The unpredictability of tariff policies has made it difficult for businesses to plan and invest, leading to increased operational challenges [6][24]. - The industry has been under pressure for the past four years, with the impact of tariffs compounding existing difficulties [6][10]. Market Dynamics - The Covid-19 pandemic initially boosted furniture sales as consumers invested in home improvements, but inflation and rising interest rates have since led to a decline in the sector [8][9]. - American Signature Furniture declared bankruptcy, citing a 27% decline in sales and a significant increase in net operating losses from $18 million to $70 million [10][11]. - Smaller furniture businesses are particularly vulnerable to tariff impacts due to limited resources compared to larger competitors [12][13]. Competitive Landscape - Larger furniture companies, such as RH, Williams-Sonoma, and Wayfair, have managed to grow sales and margins despite facing higher import costs [16][17][18]. - Ikea reported stable revenue and attributed increased operating expenses to acquisitions rather than tariffs [16]. - The market dynamics have created opportunities for larger firms to capture market share from smaller businesses struggling with tariff-related costs [15]. Future Uncertainty - The U.S. Supreme Court is reviewing the legality of the tariffs, which could lead to further changes in the industry landscape depending on the ruling [21][22]. - The outcome of the court's decision may affect how tariffs are implemented and could lead to either refunds or increased tariffs [22][23].

Core Insights - Deere reported a decline in first-quarter profit, primarily affected by tariffs and reduced demand for tractors [1] Company Performance - The company's profit for the first quarter was lower compared to previous periods, indicating challenges in maintaining profitability [1] - Tariffs imposed on imports have negatively impacted the company's financial performance [1] - There is a noticeable weakness in tractor demand, which has further contributed to the decline in profits [1]

Likewise, the outlook for the African Growth and Opportunity Act and the Haiti HELP/HOPE program — both of which expired in September 2025 — are also causing industry uncertainty.“Despite broad industry support for upholding the existing agreement and calls to ‘do no harm,’ we cannot rule out the possibility that the Trump administration might seek significant renegotiation or even replace the USMCA with separate bilateral trade deals,” Lu said.For instance, the United States-Mexico-Canada Agreement is set ...

Core Viewpoint - The New York Federal Reserve's research indicates that U.S. businesses and consumers bear the majority of the burden from tariffs imposed by the Trump administration, leading to significant criticism from White House economic advisor Kevin Hassett, who labeled the findings as an embarrassment [1][6]. Summary by Sections Tariff Burden - The New York Fed's research found that U.S. businesses and consumers are responsible for 86% of the tariff burden, while foreign exports account for 14% as of November 2025 [2]. - The share of the burden on U.S. businesses and consumers decreased from 94% in the January to August period to 92% in September and October [2]. Average Tariff Rates - The average tariff rate increased significantly from 2.6% at the beginning of 2025 to 13% by the end of the year, peaking at around 16% in April and May following the announcement of "Liberation Day" tariffs [5]. Economic Impact - The New York Fed's findings align with other studies indicating that American importers are absorbing nearly all tariff costs, with the bulk of the incidence falling on U.S. firms and consumers [6]. - The Congressional Budget Office (CBO) reported that U.S. businesses would pass on approximately 70% of their tariff costs to consumers, with the remaining 30% affecting profit margins [10]. - The CBO projected that the new tariffs would increase the personal consumption expenditures (PCE) index by about 0.8 percentage points by the end of 2026, with current PCE inflation at 2.8%, exceeding the Fed's 2% target [11]. Defense of Tariffs - Hassett defended the Trump administration's tariffs, claiming that they have benefitted American consumers by reducing prices and increasing real wages by an average of $1,400 last year [12].

Steel Dynamics Raises Bid to Increase Its American Production Capacity - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# Steel Dynamics Raises Bid for BlueScope. How It Plans to Ramp Up U.S. Production.By [Al Root]ShareResize---ReprintsIn thi ...

Here's the headline in a very newsy set of minutes. Several participants indicated that they would have supported a two sided description of the committee's future interest rate decisions, reflecting the possibility that upward adjustments could be appropriate. The focus of the January meeting on inflation, largely rather than jobs and concern that bringing it down had stalled.Officials anticipated inflation would move down this year, but the pace and timing remained uncertain. The continuing rise in prices ...

Kevin Hassett on Wednesday called for researchers at the Federal Reserve Bank of New York to be “disciplined,” after the bank published a paper concluding that 90% of Trump’s tariff costs are falling on U.S. consumers and companies rather than foreign exporters.“The paper is an embarrassment,” the National Economic Council director said on CNBC’s Squawk Box.“The people associated with this paper should presumably be disciplined, because what they’ve done is they’ve put out a conclusion which has created a l ...

Hassett says New York Fed staff should be disciplined over study finding Americans paid for Trump's tariffs - MarketWatch# Hassett says New York Fed staff should be disciplined over study finding Americans paid for Trump's tariffs## Trump economist's criticism comes ahead of possible Supreme Court ruling this weekPublished: Feb. 18, 2026 at 11:54 a.m. ETShareResize---Listen(2 min)A 40-foot-long banner designed to look like a purchase receipt was displayed in Los Angeles in December by the progressive group ...