Dec. 12 at 2:56 PM
U.S. effective tariff rates may fall as the White House shifts toward affordability ahead of next year’s midterms, Jefferies analysts said. They expect the Supreme Court to reject President Trump’s use of emergency economic powers to impose broad tariffs, which a lower court already deemed illegal.
Trump’s tariffs—though softened since his April “Liberation Day” rollout—have pushed U.S. tariff levels to their highest since the 1930s. USTR Jamieson Greer recently said the administration may use “other tools” to recoup the ~
$200 billion now raised under IEEPA.
While Trump argues tariffs counter unfair trade, they’ve fueled economic uncertainty, inflation, and labor weakness. Some food-import duties have been cut as Trump tries to show focus on inflation, lifting his approval to 41%, though only 31% back his handling of living costs.
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