Overview
- Financial Times reporting, citing people familiar, says the administration is reviewing tariff rosters to exempt some items, stop further list expansions, and shift to targeted national‑security investigations on specific goods.
- Commerce and USTR officials are described as acknowledging that the current regime inflated prices on everyday items like cans and bakeware and proved too complicated to administer.
- Last year the White House raised duties to as high as 50% on steel and aluminum and extended them to more than 400 finished and industrial products, including appliances and heavy machinery.
- The U.S. House passed a measure opposing tariffs on Canada, with six Republicans joining Democrats, though the president retains veto authority.
- A new New York Fed analysis finds nearly 90% of the 2025 tariff burden fell on U.S. consumers and businesses, with the average tariff rate rising from 2.6% to 13%.