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.
U.S. trade deficit shrank to $60.2B in June 2025, the lowest since Sept. 2023, driven by falling imports and rising tariff uncertainty.
The burgers, stews, and chili on your menu might get pricier. U.S. beef prices have reached record highs amid inflation pressures, supply shortages, and new tariffs on Brazilian imports. With the U.S. cattle inventory at its lowest since 1951 and Brazil facing steep tariff hikes, beef prices may climb even higher in 2025.
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.