Scott Horsley
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He dubbed it Liberation Day, and he promised those tariffs would usher in a new golden age of stronger factories, lower prices, and a smaller trade deficit.
Well, a year later, none of that has happened.
factories have lost 89,000 jobs in the last year.
Inflation is higher, not lower, than it was a year ago.
And the trade deficit actually widened in 2025.
The news comes a year to the day after the president ordered double-digit tariffs on virtually everything Americans buy from other countries.
What Trump called Liberation Day tariffs were later struck down by the Supreme Court.
Customs officials are now working on a process to refund $166 billion that was wrongly collected.
President Trump's address to the nation did not reassure financial markets.
Energy prices are climbing again.
AAA says the average price of gasoline rose overnight to $4.08 a gallon.
The Commerce Department says the U.S.
trade deficit widened in February to just over $57 billion.
Imports and exports both increased during the month, but imports rose more.
The news comes a year to the day after the president ordered double-digit tariffs on virtually everything Americans buy from other countries.
What Trump called Liberation Day tariffs were later struck down by the Supreme Court.
Customs officials are now working on a process to refund $166 billion that was wrongly collected.
Scott Horsley, NPR News, Washington.
NABE conducted its usual quarterly survey of economists at the beginning of March, then went back at the end of the month and asked forecasters how their views might have changed.