Recent trade announcements have been billed as an escalation in the trade war. By our reckoning, the upshot is actually an effective tariff rate of 18%. That is the midpoint between the 16% rate in ...

The "solid" state of the labor market described by the FOMC earlier this week looks more questionable after the July employment report. Nonfarm payrolls rose a weaker-than-expected 73K in July. More ...

Trump signed an order the previous night imposing steep tariffs on 66 countries, the European Union, Taiwan and the Falkland Islands, to go into effect Aug. 7, after he originally threatened them for ...