Tariff Reality Check: Trade Deficit Unchanged Despite Border Taxes
CNBC Economy reports that the U.S. trade deficit totaled $901 billion in 2025, essentially flat despite the Trump administration’s expanded tariff policies throughout the year.
CNBC Economy reports that the U.S. trade deficit totaled $901 billion in 2025, essentially flat despite the Trump administration’s expanded tariff policies throughout the year.
According to CNBC Economy, Americans are experiencing a “boomcession” — feeling pessimistic about an economy that’s actually growing. This disconnect reveals something important about how modern economic growth is distributed.
National Economic Council Director Kevin Hassett sharply criticized a New York Fed study on tariffs, calling it the “worst paper I’ve ever seen.” This public spat reveals how divided policymakers are about tariffs’ real economic effects.
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