Liberation Day Tariffs — One Year Later, the Iran War, the Midterm Elections.

Economic tariffs and government taxation or punative tariff trade policy or duties imposed on imports and exports by a government on imported or exported goods as Protectionism to raise national revenue

     A year since the “Liberation Day Tariffs” were announced, the war with Iran is making the trade war more difficult — Even more so after the recent Supreme Court decision declaring those tariffs illegal.  The trade war has not increased factory employment and only threatens us with more inflation. The Iran war has not helped. All of this will certainly play out in the midterm elections. We’ll see ……

 

“The real war (with Iran) makes the trade war harder to win.” M. Lynn, Trump is breaking an axiom of war. Why no one warn him. Washington Post (March 24, 2026), https://www.washingtonpost.com/opinions/2026/03/24/trump-war-tariffs-iran/

President Trump’s relationship with the Supreme Court has never been more toxic. Now, it risks getting worse. After the court’s rejection of Trump’s tariffs provoked a new level of hostility from the president, the justices are set to consider a pillar of his immigration crackdown: limiting U.S. citizenship. Trump seems to be bracing for defeat.” J. Romoser, Birthright Citizenship Case Pushes Trump’s Relationship With Supreme Court to Brink. Wall Street Journal (March 29, 2026), https://www.washingtonpost.com/opinions/2026/03/24/trump-war-tariffs-iran/

“One year after President Donald Trump stood in the White House Rose Garden and announced the highest U.S. tariffs (Liberation Day Tariffs) in nearly a century, the number of factory jobs is down and inflation is up.” D. Lynch, Trump Has Reshaped the Global Economy – With Mixed Results. Washington Post (March 29, 2026), https://www.msn.com/en-us/money/markets/one-year-later-trump-has-remade-global-trade-with-mixed-results/ar-AA1ZEJVK?ocid=BingNewsSerp

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About Stuart Malawer

Distinguished Service Professor of Law & International Trade at George Mason University (Schar School of Public Policy).
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