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#TrumpTariffs As of December 17, 2025, the Trump administration’s sweeping tariff policies are at a critical turning point as they face a major legal challenge before the U.S. Supreme Court. Status of Current Tariffs Since January 2025, President Trump has implemented a wide array of duties that have collected over $200 billion in revenue this year. Global Section 232 Tariffs: Imposed on steel (50%), aluminum (50%), and copper (50% on semi-finished products). Automotive Tariffs: A 25% tariff on passenger vehicles, light trucks, and auto parts has been in effect since spring 2025. Reciprocal & Global Baseline: A baseline 10% tariff applies to most imports, with "reciprocal" rates ranging up to 41% for specific countries like China, Canada, and Mexico (though USMCA exemptions exist for some goods). Removal of De Minimis: As of August 29, the $800 threshold for duty-free low-value shipments was revoked, subjecting nearly all small parcels to entry fees. Recent and Future Actions December 17 Supreme Court Arguments: The Supreme Court is hearing oral arguments today regarding the legality of the president's use of emergency powers (under the IEEPA) to bypass Congress and impose these global tariffs. Upcoming Increases (Jan 1, 2026): Tariffs on upholstered products and kitchen cabinets are scheduled to rise to 30% and 50%, respectively, on New Year's Day. New Retaliatory Tariffs: Recent reports indicate the administration suspended a tech deal with the UK and is threatening new measures against the EU over digital services taxes. Economic Impact & Proposals Job Market & Inflation: Unemployment has risen from 4% in January to 4.6% as of December, with core PCE inflation re-accelerating to 2.8%. Household Costs: Estimates suggest the tariffs have cost the average U.S. household between $1,100 and $1,200 in 2025. Tariff Dividend: To counter unpopularity, President Trump has proposed a $2,000 "tariff dividend" rebate check for American families, funded by the collected revenue.

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#USNonFarmPayrollReport The latest US Non-Farm Payrolls (NFP) report, released on December 16, 2025, for the month of November, showed that 64,000 jobs were added to the US economy, which was above economists' expectations of 50,000. The unemployment rate increased to 4.6%, the highest level since September 2021. Key Insights Job Gains & Losses: The 64,000 job gain in November followed a significant loss of 105,000 jobs in October, which was primarily driven by federal government workforce reductions after the government shutdown. Sector Performance: In November, job growth was notable in healthcare (+46,000) and construction (+28,000), while federal government employment continued to decline. Wage Growth: Average hourly earnings edged up by only 0.1% month-over-month and rose 3.5% year-over-year in November, the smallest annual gain since May 2021, indicating a cooling of wage inflation. Revisions: Job changes for August and September were revised downward, reducing the previously reported figures by a combined 33,000 jobs, signaling a general weakening trend in the labor market this year.

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