U.S. allies and partners like the U.K. and the European Union facing higher tariffs but countries like Brazil, China and India get a reprieve.

The US Supreme Court ruled against the tariffs imposed by Trump under IEEPA. Based on the financial world’s initial reaction, the effects will be relatively minor. Read more

Tariffs can play multiple roles: they have traditionally been used as instruments of trade policy, and the Trump administration has increasingly employed them as foreign policy tools to extract concessions from other countries. Although tariffs have seldom ...