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The U.S.-Canada Tariff War: How a 1930 Statute Bypasses a Free Trade Agreement

The U.S.-Canada Tariff War: How a 1930 Statute Bypasses a Free Trade Agreement

By Marta Bengoa

Tariffs can be withdrawn by proclamation as quickly as they were imposed, and the September 8 measures may well be traded away in the review that begins next summer. The conclusion Canada has reached about the reliability of its largest customer will take considerably longer to reverse.

After Supreme Court Ruling, Trump Tariffs Continue with More Constraints

After Supreme Court Ruling, Trump Tariffs Continue with More Constraints

By Marta Bengoa

Using outdated balance-of-payments provisions designed for fixed exchange rates makes no sense under current monetary arrangements. Trump can continue imposing tariffs within constitutional boundaries, but the constraints now bind more tightly. Whether this leads to a more sensible trade policy or simply shifts chaos to different legal authorities remains to be seen.

The 2025 Tariffs Have Hurt U.S. Manufacturing, Employment, and Consumers

The 2025 Tariffs Have Hurt U.S. Manufacturing, Employment, and Consumers

By Marta Bengoa

Rather than reviving American manufacturing and boosting employment, the data from Trump’s “Liberation Day” tariffs tell a story of job losses in manufacturing, stagnant productivity in that sector, higher inflation across the economy, and economic uncertainty on a scale not seen in decades.