Trade Policy & Economic Impact - The Trump administration's tariffs have pushed the average tariff rate to 186%, levels not seen since the 1930s [1] - These tariffs introduce uncertainty, potentially causing domestic businesses to retract and impacting consumer affordability [9][10] - Tariffs could cost US households approximately $2,400 per year [17] - There are nearly 2 million people unemployed, the highest level since the pandemic [16] Legal & Political Challenges - The legality of the tariffs is being challenged in court, with the Federal Circuit potentially ruling them unlawful [12] - The statute used to justify the tariffs doesn't explicitly mention tariffs, circumventing established trade deal frameworks [14][15] - The impact of the trade wars may influence the 2026 political landscape and Trump's long-term legacy [28] Global Trade & Business Uncertainty - The current trade situation is confusing for companies, with sectoral and country tariffs intersecting [6][7] - Trade deals lack detailed documentation, relying on "made for TV tweets and comments," leading to disagreements and back trading [5] - Trump's approach of continuously revisiting deals creates uncertainty for countries and companies, hindering planning and management [8]