Many small-business owners say the uncertainty that goes along with the high cost of the Trump administration's emergency tariffs is driving away customers and eating into profits.

After North Carolina paid billions in tariffs last year, state Attorney General Jeff Jackson joined a lawsuit challenging the legality of President Donald Trump’s new tariffs he imposed under a section of the Trade Act.

Brittney Powell, partner in the international trade practice of Fox Rothschild, said the law firm is advising its clients to take a "belt and suspenders" approach to managing the refund process.

It has been a year since President Trump announced double-digit tariffs on imports from around the world. So far, those levies have not produced the economic boom the president promised.

The president said earlier this week he would "immediately" impose a 50 percent duty on imports from any country that supplies weapons to Iran.

Global markets are already reacting and the impact is spreading fast. Donald Trump’s new tariff strategy has triggered sharp declines across major stock indices, raising fears of a much larger economic conflict.

A year after his "liberation day," Trump's trade war has reshaped how companies in industries such as retail and autos are modeling economic and policy risk.

EXCLUSIVE — The Trump administration has quietly backed off from President Donald Trump’s threat to impose 50% steel and aluminum tariffs on imported bicycles, e-bikes, and bicycle frames. In August 2025,

U.S. imports from China have shrunk drastically. But billions of dollars of the change appear to be the result of accounting gimmicks and outright fraud.