A new study reveals that tariffs imposed by the Trump administration in 2025 primarily burdened U.S. importers and consumers, rather than foreign exporters.

• Nearly 90 percent of the economic burden from the tariffs fell on U.S. firms and consumers.
• The study was authored by economists from the Federal Reserve Bank of New York and Columbia University.
• The U.S. average tariff rate on imported goods surged from 2.6 percent at the beginning of 2025 to 13 percent by the end of the year.

California and three other U.S. states have filed a lawsuit against the Trump administration, challenging its plan to cut over $600 million in public health grants. The states allege the cuts are politically motivated and violate federal law.

• The lawsuit was filed by California Attorney General Rob Bonta and his counterparts from Colorado, Illinois, and Minnesota.
• California faces the largest reduction of approximately $180 million, including $130 million from the Public Health Infrastructure Grant (PHIG).
• The lawsuit claims violations against the Administrative Procedure Act and constitutional protections, arguing the funding termination targets these states based on partisan politics.