A new analysis from the JPMorgan Chase Institute reveals that while aggressive trade policies implemented in 2025 have successfully driven a significant wedge between midsize American businesses and Chinese suppliers,

The countries made official an agreement reached last year, with Indonesia avoiding a higher tariff and committing to cooperate on export controls.

The U.S. imported more goods and services than it exported — around $70 billion worth — in December, according to new data from the U.S. Bureau of Economic Analysis.

President Donald Trump has repeatedly said foreigners would pay for his import tariffs. A new report says Americans picked up most of the tab.

The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries.

China trade with U.S. midsize businesses plummeted 20% as Trump tariffs hit 37.4%, forcing companies to shift suppliers to Southeast Asia and beyond.

Donald Trump’s top economist didn’t just disagree with consensus economic research, he also suggested he wants to see researchers “disciplined.”

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National Economic Council Director Kevin Hassett said Wednesday that researchers at the New York Federal Reserve who produced a study finding American businesses and consumers are shouldering 90% of the cost of President Donald Trump’s tariffs should be “disciplined.