And, in December, Trump announced a $1,776 Christmas bonus for nearly 1.5 million active-duty U.S. military service members. The president suggested tariff revenue was the source of funding for the bonuses, though USA TODAY reported the Department of Defense footed the $2.9 billion bill from military housing funds.

President Donald Trump has said over the last year that money brought in from his increased tariffs would pay for at least half a dozen initiatives -- from reducing the national debt to providing dividend checks to "moderate income patriots" -- but the revenue raised so far can't deliver all of them.

The U.S. Supreme Court is currently reviewing a case to determine whether President Donald Trump's global tariffs are legal. Until recently, tariffs rarely made headlines. Yet today, they play a major role in U.S. economic policy, affecting the prices of ...

Imported wines and spirits are likely to become more selective menu items, while U.S.-made whiskey, rum, vodka and emerging domestic agave spirits could gain ground. Happy hour may continue to expand, becoming less of a perk and more of a survival strategy.

The change in the average U.S. tariff rate in 2025 was the largest in the modern era. One way to assess the effects of such a large shock on unemployment and inflation is by looking at data from pre-World War II periods with tariff rate changes of a similar magnitude.

The president has long been sensitive to bond market movements and regularly cites surges in stocks as evidence that his agenda is working.

In his speech in Davos, President Trump touted the success of his trade and tariffs policy. “With tariffs we’ve radically reduced our ballooning trade deficit, which was the largest in world history,” he said.