Tariffs

The Senate Finance Committee hosted a hearing on "The President’s 2025 Trade Policy Agenda" on Tuesday morning. The event on Tuesday morning featured conversations surrounding President Donald Trump's tariffs. U.S. Trade Rep. Jamieson Greer answered questions and made comments. Last week, Trump declared foreign trade and economic practices have created a national emergency, and his new order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers. Trump said he refuses to let the U.S. be taken advantage of and believes that tariffs are necessary to ensure fair trade, protect American workers and reduce the trade deficit.

The Trump administration's introduction of new tariffs will impact American families and parents, increasing the cost of many household goods, experts say. Economists and researchers say the cost to Americans will be significant, with estimates ranging from nearly $4,000 to almost $8,000 per household.Several officials spoke Tuesday morning on the impact of tariffs on working families. Those speaking included the Congressional Dads Caucus, Rep. Jimmy Gomez, Rep. Brad Schneider, Rep. Derek Tran, Rep. Steven Horsford and Rep. Suhas Subramanyan.

President Donald J. Trump is standing by his new tariffs plan, saying it's a short-term pain for a longer-term gain. Last week, Trump declared foreign trade and economic practices have created a national emergency, and his new order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers. Trump said he refuses to let the U.S. be taken advantage of and believes that tariffs are necessary to ensure fair trade, protect American workers and reduce the trade deficit. University of South Florida Professor Emerita (Political Science) and Political Analyst Dr. Susan MacManus weigh in on the tariffs, as well as the other latest political headlines.

President Donald Trump's new tariffs could make your grocery bill go up. Inflation already raised prices for food, and now there is concern that the new tariffs will cost us even more. FOX 35's Sharon Crowley breaks down the prices.

Canada is responding to tariffs imposed by the United States. They will now put a 25% tariff on vehicles imported from the U.S. FOX 35's Caroline Elliott is in Ottawa, Canada, where she says that some automakers are even temporarily shutting down.

The worries on Wall Street are continuing, as market futures are down big again this morning after stocks took a tumble yesterday. Economists say this was the worst day for the markets since 2020. The sharp decline happened yesterday after President Donald Trump officially slapped sweeping tariffs on foreign imports.