President Trump Has Imposed the Highest Tariffs Since the Great Depression

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The tariffs at the heart of this week's Supreme Court case are raising tens of billions of dollars for the federal government. They're also costing consumers, frustrating businesses and hurting the manufacturers they're supposed to help.

About half those import taxes are being challenged this week at the U.S. Supreme Court as unconstitutional.

Does the President have a Plan B?

The Average Tariff on Imported Goods is Now the Highest It's Been Since the Great Depression

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The average tariff on imported goods is now the highest it's been since the Great Depression. And Trump has threatened to impose even higher taxes on goods from many countries, beginning on Aug. 1.

The uptick in inflation last month cements expectations that the Federal Reserve will hold interest rates steady when policymakers meet later this month, despite mounting pressure from the White House for lower rates.

President Trump has frequently attacked Fed chairman Jerome Powell and his colleagues for not cutting rates more aggressively.

Blame is not a strategy.