THE ECONOMY • TRADE
You import everything. The parts in your truck. The tools in your garage. The pills in your medicine cabinet. Today, on average, the federal government is collecting 7.1 cents of every dollar that crosses the border. In January 2025 it was 2.2 cents. The last time the U.S. tariff rate was this high, Truman was in the White House and the country was demobilizing from World War II. Treasury’s books tell the rest: $239 billion in tariffs since January 2025 — more than double the prior all-time peak.
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Every container ship that pulled into Long Beach this morning is paying a toll the United States hasn’t seen since the Marshall Plan.
