How Trump’s Tariffs Are Reshuffling Wealth

Photo of tariffs being collected at an American port

Introduction: A New Economic Reality The first eight months of 2025 have witnessed the most dramatic shift in U.S. trade policy in nearly a century. The rapid and broad-based imposition of tariffs rivals the Smoot–Hawley Tariff Act of 1930 in its scope and potential economic impact, fundamentally rewiring the flow of commerce and capital into … Read more