showing the trade deficit surging in December. This is important too. 70 billion up 33% from November.Let's discuss it all with David Zervos. He's the chief market strategist at Jeffre. David, it's great to see you.I mean, is it bad. I kind of want to talk trade deficit a little bit. Like it's was that just a one-mon aberration.What's going on here. >> I think look, I've never gotten very excited about one month or even three months of data. I think you need to see the trend and the trend has been that uh t ...

U.S. firms paid triple in tariffs in 2025, says JPMorganChase report - Fast CompanyLOGIN[SUBSCRIBE]- [INNOVATION FESTIVAL]- [Video]- [Podcasts]- [Games]- [Work Life]- [Leadership]- [News]- [Design]- [Tech]- [Premium]|[Custom Studio]- [Texas A&M University]- [IBM]BY [Associated Press]Listen to this Article [More info]0:00 / 0:00[Tariffs] paid by midsized U.S. businesses tripled over the course of last year, new research tied to one of America's leading banks showed on Thursday — more evidence that President ...

Kent Smetters, faculty director of the Penn Wharton Budget Model, is challenging the narrative that tariffs are a tool for protecting domestic industry. In a recent interview with Fortune, Smetters held forth on what he said was his long-held view that broad-based tariffs are a “dirty VAT” (value-added tax)—a policy he believes is significantly more damaging to the U.S. economy than traditional tax increases. While economists generally view a broad-based, flat VAT as an efficient method for raising gove ...

Fox. Joining us right now is a twotime Nobel Prize winning economist Joseph Stiglets. He's the author of The Road to Freedom, Economics, and The Good Society.And the new paperback edition is out next week. And we're thrilled to have you back uh on the broadcast. And eating a donut, no less >> and wondering about inelasticity if you can.$50 for a dozen donuts maybe. So that that's >> So we were just having a conversation with Joe Leavo about the economy and I'm curious just from your perspective, how you see ...

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].