After months of negotiations, pauses, and delays, a sweeping new tariff slate took effect Thursday—marking a new era in U.S. trade policy, with import rates reaching their highest levels since the Great Depression.
Data and Financial Journalist
After months of negotiations, pauses, and delays, a sweeping new tariff slate took effect Thursday—marking a new era in U.S. trade policy, with import rates reaching their highest levels since the Great Depression.
April’s trade deficit plunged from a revised $138.3 billion in March to $61.6 billion, driven by a 16% drop in imports that reversed the pre-“liberation day” spike.
President Trump’s new tariffs hit Asian exporters the hardest. With a 90-day pause in place, countries like Vietnam and Cambodia seek trade solutions amid rising U.S. trade deficits.
U.S. inflation dropped to 2.4% in March as consumer prices fell slightly, easing from 2.8% in February. The dip comes amid new tariffs from President Trump and ongoing Fed caution on interest rate cuts. Food prices, however, continued to rise—egg prices surged 60.4% year-over-year.