Moreover, agreements with Britain and China have reduced overall tariff levels from recent highs, which will cut the revenue they raise. Levels will continue to fall as America inks more deals. Yet Mr Trump’s tariffs will still bring in large sums.

Trump tax bill passes in key US House committee vote "I don't put much credence in the Moody's downgrade," Scott Bessent said.

It may seem like just about every day there's news from President Donald Trump's administration about tariffs and deals. Trump has said those tariffs on other countries are needed to help the