The hottest Tariffs Substack posts right now

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Trump’s Tariffs Are Down—but Not Out

Common Sense with Bari Weiss • 867 implied HN points • 20 Feb 26
🇺🇸 U.S. Politics Tariffs
  1. The Supreme Court struck down the president’s broad country-by-country reciprocal tariffs, and the president quickly moved to impose new tariffs under a different legal authority.
  2. Not all tariffs were affected by the ruling — industry-specific tariffs remain in place, so parts of the trade policy survive.
  3. The justices were sharply divided, with different blocs offering different legal reasons and a strong dissent, leaving the legal question unsettled and open to future challenges.

Trump starts to break things

Noahpinion • 74295 implied HN points • 02 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Trump's new tariffs on Canada and Mexico could raise prices for American consumers. These tariffs might hurt people's wallets and lead to higher costs for everyday goods.
  2. The tariffs may disrupt American manufacturers' supply chains, making it harder for them to compete. This could lower the production efficiency of U.S. companies that rely on imports from these countries.
  3. There is uncertainty about the impact of these tariffs on trade relations. If Trump keeps them in place, it could harm relationships with allies and create economic instability.

Should Democrats go back to neoliberalism?

Noahpinion • 18529 implied HN points • 24 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. Democrats should reconsider their approach to the economy and think about combining past policies with new ideas for development. Focusing on practical solutions rather than ideological battles can help them respond better to today's challenges.
  2. Blaming grocery stores for high food prices is misplaced. Stronger attacks should be aimed at issues like tariffs, which have a real impact on prices for consumers.
  3. Having a government that can effectively manage and execute projects is important. Instead of relying on outside consultants, a capable bureaucracy can help tackle big problems like infrastructure and housing.

Why tariffs haven't raised inflation much (yet)

Noahpinion • 14412 implied HN points • 11 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs have been raised significantly, but they haven't yet affected prices in a noticeable way. This could mean that people won't feel the impact right away.
  2. Investors seem calm about the new tariff announcements, possibly believing they will be rolled back or stopped by the courts. This suggests they don't see immediate dangers to the economy.
  3. Despite higher tariffs, actual inflation rates remain low, which raises questions about the predicted effects of these tariffs on consumer prices. People might not be paying more for goods as expected.

When are tariffs good?

Noahpinion • 19353 implied HN points • 06 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs can help protect national security by ensuring that the U.S. maintains essential manufacturing capabilities for military needs. Having domestic industries ready to switch to military production is crucial in case of conflicts.
  2. Targeted tariffs can support 'national champions,' which are big domestic companies that can thrive by limiting foreign competition. This helps the country's economy by allowing its firms to earn more profit and create jobs.
  3. The infant industry argument suggests that tariffs can help new industries grow by shielding them from foreign competition until they are strong enough to stand on their own. However, broad tariffs should be carefully considered as they might not apply well to every situation.
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How Will the Trump Tariffs Affect Construction?

Construction Physics • 17955 implied HN points • 12 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs on imports can greatly impact construction costs. For example, the recent 25% tariffs on materials from Canada and Mexico might lead to higher prices for building projects.
  2. A significant part of construction relies on imports, especially metals and interior components. In 2022, nearly $469 billion in construction-related imports were recorded in the U.S.
  3. Most construction materials come from various countries around the world. No single country dominates the market, showing how global trade supports the construction industry.

At least five interesting things: Red Tape edition (#57)

Noahpinion • 15706 implied HN points • 11 Jan 25
🇺🇸 U.S. Politics Tariffs
  1. Environmental review laws like NEPA slow down development and can lead to unnecessary delays and high costs, affecting infrastructure projects.
  2. Jimmy Carter's legacy of deregulation is remembered as a way to navigate some current regulatory barriers and foster economic growth.
  3. Targeted tariffs are more effective than broad tariffs in managing imports and trade deficits, and there's new evidence that the Trump administration is shifting towards this approach.

On the Farm, Trump’s Tariffs Are Still Causing Misery

Common Sense with Bari Weiss • 125 implied HN points • 21 Feb 26
🇺🇸 U.S. Politics Tariffs
  1. Tariffs and trade fights have severely hurt farmers' incomes, with soybean prices collapsing so some couldn't break even.
  2. Cuts to federal sustainability programs removed important support and made it harder for farms to survive.
  3. Even if some tariffs are struck down, the damage to long-built export markets may not be fixed and farmers still face ongoing uncertainty about future policy.

Why targeted tariffs are more effective than broad tariffs

Noahpinion • 16882 implied HN points • 18 Nov 24
🇺🇸 U.S. Politics Tariffs
  1. Targeted tariffs focus on specific industries or products, helping to reduce dependence on foreign sources like China for critical goods, such as batteries.
  2. Broad tariffs can create problems by raising costs for American manufacturers, making them less competitive against foreign companies, which may worsen trade deficits.
  3. To effectively improve trade balances, policies should avoid broad tariffs and instead concentrate on targeted measures that do not negatively affect American industries.

Chartbook 403 Trump as a Gulliver ... with no clothes.

Chartbook • 2088 implied HN points • 08 Aug 25
🇺🇸 U.S. Politics Tariffs
  1. Trump's view on trade seems disjointed and doesn't align with traditional ideas. His approach to tariffs lacks a clear and logical strategy.
  2. He perceives the U.S. as a powerful giant that has been manipulated by smaller nations, wishing to restore balance in international trade.
  3. Negotiations with other countries may prioritize showmanship over practicality, leading to deals that sound good but may not have real economic logic behind them.

CROSSPOST: Alan Wolff: Bamboozled: What made anyone think the Trump tariffs were legal?

Brad DeLong's Grasping Reality • 199 implied HN points • 15 Jan 26
🇺🇸 U.S. Politics Tariffs
  1. The Trump tariff package lacked a valid legal basis because the emergency statute used (IEEPA) doesn’t authorize broad, across-the-board tariffs and the Nixon 1971 surcharge precedent was misread.
  2. Other institutions failed to check the move—Congressional leaders avoided confrontation and courts were slow or enabling, letting an executive power grab undermine the separation of powers.
  3. This episode highlights the danger of loosely defined emergency powers and the need for Congress to reassert control over tariffs and investigate how the constitutional guardrails were bypassed.

February 23, 2026

Letters from an American • 29 implied HN points • 24 Feb 26
🇺🇸 U.S. Politics Tariffs
  1. The president responded to the Supreme Court ruling by publicly doubling down on tariffs, claiming broad unilateral power and attacking the Court’s legitimacy.
  2. Those tariff threats have created real international and economic fallout — trading partners and the European Parliament froze or delayed deals, markets fell, and Congress shows little appetite to back the plan.
  3. A string of administration controversies and legal moves — blocked reports, a barred ambassador, officials' inappropriate behavior, and misconduct allegations — are damaging credibility and increasing political backlash.

Tariffs are coming

Noahpinion • 8588 implied HN points • 05 Feb 24
🌍 World Politics Tariffs
  1. Tariffs are likely to be a significant tool in the upcoming global trade war, but may not be the most effective solution
  2. China is responding to its economic slowdown by heavily investing in export manufacturing, potentially flooding global markets with cheap goods
  3. The threat of tariffs against Chinese exports is prompting various countries and trade entities to consider imposing their own tariffs, leading to a potential widespread increase in trade barriers

Tinned Soup and Tariffs

Material World • 1280 implied HN points • 20 Jun 25
🇺🇸 U.S. Politics Tariffs
  1. Making tin cans is more complex than it seems. The steel used in cans needs to be very high quality and made in a specific way to ensure it is safe and effective.
  2. Trade wars and tariffs can affect everyday products like Campbell's Soup. Higher tariffs can lead to increased prices for consumers, especially if companies have to pay more for imported materials.
  3. Changes in steel production, like moving from blast furnaces to electric arc furnaces, can have big impacts on industries and trade deals. This can make it hard for companies to get the materials they need without higher costs.

Trump’s Tariffs at the Supreme Court

David Friedman’s Substack • 278 implied HN points • 14 Nov 25
🇺🇸 U.S. Politics Tariffs
  1. Trump's tariffs might not deliver the economic benefits he claims and could actually make people poorer. The reasons supporting the tariffs don't fully grasp trade economics.
  2. Congress, not the president, has the power to impose tariffs, and Trump’s emergency claims for them don't seem to meet legal standards. A long-term trade deficit isn't really an unusual threat.
  3. The court may rule against Trump because the tariffs he imposed likely aren’t allowed under the International Emergency Economic Powers Act. They don't fit the definition of emergencies stated in the law.

Let's Look At Data

Points And Figures • 746 implied HN points • 31 Jul 25
💰 Finance Tariffs
  1. The Fed is politically influenced, as seen in their recent decision to keep interest rates unchanged, despite some members wanting to lower them.
  2. Recent PCE data indicates inflation is rising, which might justify keeping rates steady even in light of other pressures for cuts.
  3. Changes in tariffs are likened to taxes that can slow down the economy, and the current money supply suggests potential recession signs, complicating the decision on whether to ease rates.

The Tariff Game

Points And Figures • 1918 implied HN points • 03 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs are often more about politics than economics, and many believe they don't help growth. They're seen as special favors rather than economic tools.
  2. While tariffs can raise prices, their real impact on the economy isn't as severe as some think. They could even lead to slower growth, which might help reduce inflation.
  3. There are concerns that government job cuts could hurt people who lack skills for other jobs. However, adapting and reinventing oneself is crucial, as others have had to do in tough situations.

Can Trump Transform America with a Stroke of His Sharpie?

Common Sense with Bari Weiss • 1961 implied HN points • 22 Jan 25
🇺🇸 U.S. Politics Tariffs
  1. Trump pardoned many individuals involved in the January 6 Capitol riot, raising questions about his use of power. Some Republicans are concerned this could be seen as an overreach.
  2. There are debates about whether Trump can effectively use executive orders to change significant policies, like birthright citizenship or halting TikTok's ban.
  3. Plans for tariffs on imports have sparked worries that they could lead to inflation and empower lobbying groups, instead of truly reducing government power.

The U.S.-EU Trade Deal Is an Embarrassment

Common Sense with Bari Weiss • 639 implied HN points • 30 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. The U.S.–EU trade deal has imposed a 15% tariff on most European exports to America, which many see as unfair.
  2. Europe's weak bargaining position is highlighted, making it appear they had to accept unfavorable terms in the deal.
  3. The overall reaction to the deal has been negative for Europe, causing their currency to drop while U.S. markets showed only slight gains.

Delayed Pain

Points And Figures • 692 implied HN points • 17 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs might not be causing the inflation that some experts predicted. In fact, they can act like a tax, which might actually lower prices instead of raising them.
  2. The economy reacts slowly to changes like interest rate adjustments or tariffs. People and businesses need time to adapt and this can affect their sales and planning.
  3. Watching how middle-class consumers spend their money can give clues about the economy's health. If they're cutting back on luxury items, it could signal trouble ahead.

This Entire Piece Is Wrong on Trade

Points And Figures • 719 implied HN points • 09 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. Free trade generally benefits everyone by allowing countries to use their resources more efficiently. This helps spur innovation because companies can access materials and knowledge globally.
  2. While free trade has many advantages, there are limits, especially when it comes to national security. Some products might be better produced domestically to ensure safety and reliability.
  3. The trade deficit is often misunderstood. It's not always a sign of failure but can indicate that a country is reallocating resources for higher-value production and investments.

Trump’s Trade War Is On. Plus. . .

Common Sense with Bari Weiss • 1604 implied HN points • 03 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Trump is imposing high tariffs on Canada, Mexico, and China, which has sparked a strong response from these countries. Canada is retaliating with its own tariffs, indicating that this trade conflict could escalate quickly.
  2. RFK Jr. is gaining attention in politics, especially among a group called MAHA that aims to change the healthcare system. There are varying opinions about him, with some supporting his ideas and others critiquing them.
  3. A new conservative calendar featuring bikini models has been released, showing a trend among some on the right to embrace a more provocative image. However, its artistic quality is being questioned by critics.

The Big Experiement

Points And Figures • 479 implied HN points • 04 Aug 25
🇺🇸 U.S. Politics Tariffs
  1. The new trade deal with the EU has increased tariffs on imports from Europe, which could lead to higher prices for American consumers.
  2. Some European manufacturers will invest heavily in the U.S., which might create jobs here but could cost jobs in Europe.
  3. While the deal may benefit European consumers by reducing their tariffs, it's uncertain how it will impact American jobs or consumer prices in the long run.

Trump Is Losing All His Trade Wars, Badly

Brad DeLong's Grasping Reality • 353 implied HN points • 21 Aug 25
🇺🇸 U.S. Politics Tariffs
  1. Trump's trade wars aren't helping America. The costs of these tariffs are mostly falling on American consumers and businesses, while the claimed benefits are not materializing.
  2. The tariffs are causing confusion and chaos in the market, making it harder for businesses to plan and invest. This uncertainty is hurting the economy more than the direct costs of the tariffs.
  3. Other countries are finding ways to adapt and strengthen their economies despite U.S. tariffs. The U.S. risks losing its place in global trade as businesses look for alternatives beyond the American market.

Yes: This Is Worth Signing: Economists Who Are Neither Bought Nor Crazy Oppose Broad-Based Tariffs

Brad DeLong's Grasping Reality • 1137 implied HN points • 06 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Broad-based tariffs are generally not a good idea because they can harm the economy. Instead of helping, they often lead to higher prices and lower productivity.
  2. Historically, tariffs have not stopped the decline of manufacturing jobs in the U.S., which is mainly due to increased productivity and changes in demand. The economy is doing well even with trade deficits.
  3. Foreign investment is important for the U.S. economy, and tariffs can actually hurt growth. Successful economies attract foreign capital, which has helped the U.S. prosper throughout its history.

Chartbook 337 The stakes in the struggle over Trump's trade strategy.

Chartbook • 1473 implied HN points • 02 Dec 24
🇺🇸 U.S. Politics Tariffs
  1. Trump's new trade strategy might lead to higher tariffs, which could raise prices for consumers. It’s planned to increase average tariffs from 2.6% to around 8% by 2026.
  2. Certain industries, especially car companies and food importers, could be hit hard by these tariffs. This could lead to increased car prices and food shortages.
  3. The success of Trump’s trade policy depends on balancing the interests of trade and public opinion. If people react negatively, it could limit how far he can go with these new tariffs.

So Much for That Tariff Shock

Common Sense with Bari Weiss • 1052 implied HN points • 04 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Washington's political landscape is changing, and decisions can happen quickly, like pausing tariffs unexpectedly.
  2. There's a sense of adjusting expectations, especially for those used to previous norms before Trump.
  3. Independent journalism is vital to provide honest insights about these changes and the real world.

🌐✨ Trade and AI uncertainty are not the same

Faster, Please! • 913 implied HN points • 03 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Trade policy changes can create a lot of uncertainty in the economy. Recently announced tariffs are causing confusion among markets and businesses.
  2. The impact of these tariffs could disrupt established supply chains and lead to higher costs, which might hurt businesses more than expected.
  3. While AI is also a source of uncertainty, current trade issues are having a more immediate and significant effect on the economy right now.

Top Links 779 Tariffs, trade and macro balances. Taking stock of shock & Frostbite: How Refrigeration Changed our Food

Chartbook • 400 implied HN points • 26 Jun 25
💰 Finance Tariffs
  1. Tariffs can really hurt low-income families the most. This is because they often rely on affordable imported goods that might get more expensive.
  2. Trade balances are important to understand how countries interact economically. Keeping track of imports and exports helps to see if a country is doing well.
  3. Refrigeration has significantly changed how we handle food. It allows us to store food longer and reduce waste, making it easier to feed more people.

In which Trump makes the EU pay $1.35 trillion for the privilege of paying 15% unilateral tariffs on exports & lectures the Eurotards on the stupidity of wind turbines for good measure

eugyppius: a plague chronicle • 326 implied HN points • 28 Jul 25
🇺🇸 U.S. Politics Tariffs
  1. Donald Trump negotiated a deal with the EU that makes them pay $1.35 trillion while facing a 15% tariff on exports. This shows the EU's lack of strength in trade talks.
  2. The agreement includes the EU investing $600 billion in the U.S. and purchasing $750 billion in energy. It seems like a one-sided deal that puts the EU at a disadvantage.
  3. Trump criticized wind energy during a press conference, calling it expensive and harmful to the environment. He highlighted the challenges of using windmills, saying they hurt landscapes and wildlife.

A Lens to Understand the Trump Tariffs

Contemplations on the Tree of Woe • 769 implied HN points • 14 Feb 25
💰 Finance Tariffs
  1. Not all tariffs are bad; they can help boost domestic manufacturing and protect jobs. The U.S. has lost many manufacturing jobs to overseas markets, which affects both the economy and national security.
  2. Often, tariff threats are used as negotiation tools rather than actual intentions to impose tariffs. For example, Trump used the threat of tariffs to gain cooperation from other countries on unrelated issues.
  3. The bigger issue is that many countries, including China, put up barriers to U.S. products while expecting open access to American markets. Addressing these trade imbalances can be crucial for fair international trade.

The Federal Reserve Today: Caught Between Political Theatrics, Economic Uncertainty, & Its Own Institutional-Personnel Caution

Brad DeLong's Grasping Reality • 322 implied HN points • 14 Jul 25
💰 Finance Tariffs
  1. The Federal Reserve is struggling with economic uncertainty and political pressures, which makes decision-making tough. They're cautious about how tariffs and other factors will affect the economy.
  2. Current economic conditions, like a weakening job market and inflation, might push the Fed to cut interest rates soon. However, they need to see more evidence before taking action.
  3. Trump’s past choices for Fed leadership are impacting the current situation. His preference for a consensus-builder over a strong policy leader has resulted in paralysis at the Fed.

Why Did Trump Just Start a Trade War with Our Neighbors?

Common Sense with Bari Weiss • 746 implied HN points • 02 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Trump has imposed a 25% tariff on goods from Canada and Mexico, causing concern for many. This decision appears sudden and lacks a clear reason.
  2. The tariff could disrupt the economy and long-standing trade agreements. It might lead to increased costs for consumers and harm relations with neighboring countries.
  3. While there's a limit on tariffs for Canadian energy imports to avoid spiking energy prices, the rules are inconsistent and confusing for trade with Mexico.

Central Banking in the Age of Chaos-Monkey Tariff Threats: It Would Not Be That Hard for Fed Governor Chris Waller to Do His Job Professionally

Brad DeLong's Grasping Reality • 253 implied HN points • 18 Jul 25
💰 Finance Tariffs
  1. Fed Governor Christopher Waller should push for an end to tariff chaos, which creates inflation risks. It's important for him to act professionally and prioritize stability.
  2. Current interest rates may need to go down since they could be too high for economic growth. The Fed should be cautious and not cut rates hastily amid ongoing tariff issues.
  3. The Federal Reserve's credibility relies on resisting political pressure. They should remind the Executive that stable economic policies need changes in how the government operates.

‘I Don’t Think My Business Can Survive These Tariffs’

Common Sense with Bari Weiss • 635 implied HN points • 02 Feb 25
💼 Business Tariffs
  1. Many small businesses in Canada are struggling due to high tariffs imposed by the U.S., especially under Trump's trade policies. This means they might face serious financial challenges unless these tariffs are lifted.
  2. Darrin Smith, who runs a successful woodworking tools company, is worried that the 25% tariffs will threaten the survival of his business. He relies heavily on sales to the U.S.
  3. The tariffs were created to address issues like illegal immigration and drug smuggling, but the actual impact on businesses could be quite damaging, raising concerns about the broader economy.

Tariffs, Chaos, & the G6: I Watch Adam Posen as an Eloquent Cassandra on the Economic Wages of Pluto-Populist Trade-Policy Folly

Brad DeLong's Grasping Reality • 269 implied HN points • 18 Jun 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs can harm regular American families by increasing prices and creating uncertainty. They may seem like a good idea to support local industries, but they often backfire.
  2. The U.S. is becoming more isolated in global trade because of unpredictable policies. Other countries will easily find new trade partners, leaving the U.S. at a disadvantage.
  3. The chaos caused by tariffs leads to significant financial burdens on lower-income households. The overall economic impact will hurt many people, especially those with less money.

Economic Errors

David Friedman’s Substack • 655 implied HN points • 28 Dec 24
💰 Finance Tariffs
  1. Wealth isn't just cash; it can be land, stocks, or buildings. A person's gain in wealth doesn't mean someone else has to lose money.
  2. When countries trade, it’s not just about wages. The value of currencies affects trade costs, and tariffs can disrupt these complex economic balances.
  3. People often hold on to incorrect economic beliefs because they sound easier or support their self-image. Understanding the real logic behind economics can be complicated but helps us see the true picture.

Why the Deep State Loves Tariffs

Common Sense with Bari Weiss • 579 implied HN points • 21 Jan 25
🇺🇸 U.S. Politics Tariffs
  1. Tariffs raise prices for consumers, going against the goal of reducing inflation. It's a way for bureaucrats and lobbyists to benefit at the expense of everyday people.
  2. The system of tariffs is controlled by complex bureaucracies that aren't transparent. This means that the true impact and manipulation of tariffs can be hidden from public view.
  3. If someone wants to reduce the power of the government and its administration, getting rid of tariffs would be a good starting point.

Top Links 645 Trump's assault on the North American division of labour continued. How the eurdollar system works. North Korea's aerial trash bombardment & FDR on the Arsenal of Democracy.

Chartbook • 472 implied HN points • 10 Feb 25
🇺🇸 U.S. Politics Tariffs
  1. Trump is pushing for tariffs on aluminium and steel imports, which could affect the US economy. It's important to know that the US relies a lot on imported aluminium.
  2. The eurdollar system is explained, which is key for understanding international finance. It plays a significant role in global trade and economics.
  3. North Korea is using aerial trash bombardment as a tactic, highlighting serious issues of conflict. This kind of action reflects the ongoing tensions in the region.

Top Links 588 The looming oil glut of 2025. The railroad on the wrong side of Trump's tariff plans. The Christmas tree disaster in N Carolina.

Chartbook • 500 implied HN points • 15 Dec 24
💰 Finance Tariffs
  1. There might be a big oversupply of oil by 2025. This is because OPEC+ is having trouble managing production limits.
  2. Some railroads are struggling due to tariffs from Trump. This could impact their business in the long run.
  3. North Carolina is facing a disaster with its Christmas tree production. This situation could affect both local farmers and holiday traditions.