Erica York from the Tax Foundation . . . Compared to what? The last week brought several retrospective analyses of President Trump’s first year of reciprocal tariffs, ranging from victory laps to selective trendline comparison to careful examination of what’s been learned.   It will take much longer to empirically estimate how the rapidly changing tariff environment is impacting an economy that is also subject to other […]

Another interesting piece by Federal Tax Policy Vice President Erica York at the Tax Foundation. One premise . . . “an analysis suggests the administration could replace 56% to 73% of IEEPA revenue using Section 122 tariffs.” Over the past week, we received final tariff collections data for 2025 from the Treasury Department, a new Beige Book from the Fed, and a […]