Tariffs

Nevada Treasurer Zach Conine is urging Congress to pass legislation for the automatic and timely refunding of "illegal tariffs."

California and nine states' financial officers urged President Trump to honor the Supreme Court's ruling striking down his tariffs, citing harm to state budgets and the need for economic predictability.

Findings from The Bond Buyer's 2026 Predictions Report show tax shakeups and political uncertainty pose major challenges to public finance.

"Trump indicated the administration will implement additional tariffs under different authorities, and we expect the aggregate effective tariff rate to ultimately settle around 13%, largely unchanged from current levels," Nuveen strategists said.

Bond markets believed Trump would likely keep tariffs in place in some form — even before the president made his announcement later in the afternoon — which partly explains their muted response throughout the day.

While near-term uncertainty is inevitable, the court's decision should be accretive to growth expectations and somewhat disinflationary.

In a blow to the President's economic agenda, the high court said the trade barriers could not stand.

The heads of the southern California ports recounted 2025's wins and losses during separate State of the Port speeches this month.

The Port of Long Beach cargo volumes are ahead of last year for the first 10 months, though October saw a dip in traffic.

Federal immigration and trade policies are a likely factor in the triple-A-rated state's weak job growth and pose risks for its southern border cities' budgets.

Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.

The state's government now expects general fund revenues to decline 2.3% in the current fiscal year from the previous fiscal year.

The Virginia Port Authority will sell bonds to finance upfront rent payments for the privately owned Virginia International Gateway.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.

With big state incentives and tariff protection, a United Arab Emirates-based aluminum producer has pledged to build the first new U.S. smelter in decades.

Executive Director Gene Seroka said the port's downstream prospects are unclear as it deals with the "tariff whipsaw effect" from the Trump administration.

Markets are "tilting to a risk-off posture as participants brace for the chance of Trump tariff-sparked turbulence in the coming hours and days," said José Torres, senior economist at Interactive Brokers.

The U.S. economy added 139,000 jobs, a healthy clip that counters the president's calls for a rate cut to bolster the labor market.

The American Association of Port Authorities is pushing back at the Trump administration's One Big Beautiful Bill Act over plans to curtail two key grant programs vital to the maritime sector.

An economic slowdown partially fueled by tariff turmoil has forced West Coast states to lower revenue projections and slash budgets.