President Donald Trump bragged Tuesday about the effects his tariffs have had on American trade.
Wed, December 17, 2025 at 3:53 PM“Numbers recently released show that TARIFFS have reduced the Trade Deficit of the United States by more than half. This is larger than anyone, except ME, projected, and will only get stronger in the near future,” Trump wrote on Truth Social.
Some economic experts estimated the tariffs would have little effect on the U.S.’s trade deficit, but others believed the president misunderstood the taxes’ relevance in trade balances.“Because investment is an important source of economic growth, policies that would most effectively reduce the trade deficit in the long run without reducing economic efficiency are those that would increase national saving,” the agency wrote.aren’t usually responsible for deficit reductions, though they are often suggested. The taxes likely wouldn’t shrink the U.S.'s imbalance since the country uses a floating exchange rate, which ties the dollar’s value to foreign supply and demand, C.R.S. said. "By making imports more expensive, tariffs decrease the demands for imports, resulting in a net gain in net exports and a reduction in the trade deficit. This would work with a fixed exchange rate and capital controls,” the agency wrote. “However, with a floating exchange rate, economic theory predicts that imposing a tariff would not reduce the trade deficit absent other changes – even if affected countries did not impose retaliatory tariffs.”The European Union announced taxes on American exports earlier this year, although it has since delayed their effectiveness. China has also imposed tariffs in response to the U.S.’s actions, but the two countries have negotiated multiple times to scale back.Ohio University has fired football coach Brian Smith for allegedly "engaging in serious professional misconduct," according to a statement from the school WedneThousands of frozen products sold in four states, including Ohio, were recalled for potentially being mislabeled as a completely different product.A Columbus man has been sentenced to nearly 20 years in prison after pleading guilty to drug trafficking and wire fraud charges.The Department of Justice saidA crash is causing major backups on a local interstate, leaving morning commuters running late for work.Interstate 270 South is closed near Interstate 670 WestA judge has set bond at $3 million for a man accused of killing his wife.Austen Medek appeared in court Tuesday morning, several months after his wife, 41-year-
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