Josh Wingrove

Under the initiative, the government would make the one-time contribution into a tax-deferred, low-cost index fund that will track the overall stock market.

President Trump's appetite for new tariffs remains undeterred, even after a pair of court decisions hit his duties with their most devastating blow yet.

The Democrat-led states alleged the tariffs amount to a massive tax on American consumers and infringe on the authority of Congress.

The highest average tax rate on imports in more than a century could raise prices and stunt economic growth.

President Donald Trump took the lectern Tuesday for his primetime address beset by warning signs about the U.S. economy.

Trump signed an executive order undertaking a massive regulatory review to fulfill his campaign pledge of eliminating rules stifling businesses and innovation.

The tariffs will apply widely to all U.S. imports of steel and aluminum, including from Canada and Mexico, among the country's top foreign suppliers of the metals.

Canadian Prime Minister Justin Trudeau will impose 25% tariffs against U.S. goods, while Mexican President Claudia Sheinbaum also pledged retaliation.

Trump said in his inaugural address that "instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens."

President Joe Biden also warned that Donald Trump's plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.