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Panelists discuss recent developments in U.S. trade policy and where it is heading. O’NEIL: Great. Well, good afternoon, everyone. Thank you all for coming. Great to see you. I am Shannon O’Neil. I’m senior vice president of studies and the Maurice R. Greenberg chair here at the Council on Foreign Relations. And it is […]

CFR experts discuss the impact of the Supreme Court’s decision on Friday and President Trump’s policy options with a deep dive into the legal aspects of the ruling and other authorities at the president’s disposal. For additional resources on tariffs, read CFR polling conducted with Morning Consult, “What Americans Really Think About Trade and Tariffs.” BEHBEHANI: Welcome, everyone, […]

CFR President Michael Froman analyzes the aftermath of a Supreme Court decision that struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA).

The Hook: The U.S. Supreme Court ruled that President Trump’s use of IEEPA to impose widespread tariffs was illegal. The decision comes as new data shows manufacturing job losses during Trump’s first year back in office. The Spillovers: Tariffs aren’t going away entirely. The White House moved immediately to use Section 122, with Sections 301 and 232 likely to follow. Though the market reaction was muted, the administration’s moves could mean continued uncertainty for businesses, unresolved questions around tariff refunds, and hesitation in investment, hiring, and supply chains, even as manufacturing jobs and the overall trade deficit remain under pressure. […]

The Supreme Court has ruled against Trump’s use of tariffs, but the president has other methods and authorities available to him that could keep his trade agenda alive.

Trade is seen as mutually beneficial, but Americans’ views on tariffs are largely shaped by partisanship.

Lowering tariffs could be an effective way for the Trump administration to address voters’ cost-of-living concerns, even if actual price trends reflect a more complex set of drivers.

The passage of the resolution revoking the president’s national emergency declaration is a symbolic victory that shows why Congress struggles to constrain presidents.

President Trump routinely claims that foreigners pay his tariffs, which is false—U.S. importers pay them. Over time, however, foreign exporters can be expected to bear a small but rising burden of the tariffs through price cuts, while most of the cost will be borne by U.S. consumers in the form of higher prices.

The Trump administration’s proposed high tariffs on Indian imports raise concerns about the U.S.-India partnership. But the rates seem to be part of a negotiating tactic aimed at concluding a trade deal and possibly even a peace agreement.

In the shadow of Washington’s trade war with Beijing, unchallenged U.S. tariff rates could have ruinous effects on the economies of Southeast Asia’s poorest states.

President Donald Trump has launched a wave of Section 232 tariffs and investigations, seeking to protect U.S. national security. These graphics show the scale and structure of U.S. reliance on foreign suppliers for products ranging from cars to copper.

Since President Trump’s first term, U.S. imports subject to tariffs under Section 232 national-security authority have soared. They are set to soar further.

GOODMAN: Thanks, Sam. Good afternoon from Washington and welcome to the Council on Foreign Relations. My name is Matt Goodman. I direct the RealEcon Initiative: Reimagining American Economic Leadership, and we’re delighted to welcome you to this event—this virtual event on “Tariffs on Trial.” Delighted to have such a strong turnout of hundreds of people […]

This event was part of the 2025 CFR Local Journalists Workshop, which is made possible through the generous support of the John S. and James L. Knight Foundation. TRANSCRIPT VOGT: I hope it inspires confidence that I needed to be shown where the stairs were—(laughter)—my ability to lead our conversation today. Hello, everybody. I’m Justin […]

Show Notes Will Hsu and his family have been farming ginseng in Wisconsin for more than fifty years. The medicinal crop is a prized export with deep roots in Chinese markets. But a sharp rise in tariffs is threatening to upend that relationship and crush an already shrinking industry. This season, Why It Matters […]

As the international Cannes Film Festival kicks off today, films selected from more than 150 countries mark a record number for the renowned cultural event. But alongside the glamor of global filmmakers and movie stars, geopolitical tensions course through the red carpet against a backdrop of overseas threats from the United States on stamping tariffs […]

Zongyuan Zoe Liu is the Maurice R. Greenberg senior fellow for China studies at the Council on Foreign Relations. The trade talks in Geneva between the United States and China yielded greater-than-expected de-escalation in the ongoing trade war, but it won’t be so easy to undo the damage this skirmish has done to U.S. trade […]

On U.S. President Donald Trump’s much-touted April 2nd “Liberation Day,” he unveiled a range of potentially debilitating reciprocal tariffs on the United States’ major trading partners—and most other countries as well. Surprisingly, some of the countries hit with the highest tariffs were U.S. partners in Asia and the Pacific, like Vietnam, South Korea, and Japan. […]