Treasury Secretary Scott Bessent said some sectors were in a recession as he argued for more interest rate cuts.

President Trump has used his sweeping global tariffs as an economic tool and a political cudgel. A decision invalidating them could hamper his power.

The town’s unionized workers wanted to believe that there was something better than what private equity owners had offered.

The issue has buoyed Democrats and is resonating with an American electorate that is souring on the president’s economic agenda.

The drop has been reflected in air and car travel, according to Canadian statistics. Tensions over tariffs placed by the Trump administration spurred calls for Canadians to spend their money at home.

If the proposal goes into effect, it would be the latest rollback of one of President Trump’s key economic policies over concerns about affordability.