Morning Business Report: U.S. collects $200B in tariffs as fraud losses surge and markets shift
The United States has collected more than $200 billion in tariffs this year following new duties imposed by President Donald Trump since the start of 2025
(LILAMAX) – The United States has collected more than $200 billion in tariffs this year following new duties imposed by President Donald Trump since the start of 2025, according to federal figures.
The tally reflects only the newly enacted tariffs and does not include duties imposed during Trump’s first term, which are not currently facing legal challenges. The new tariffs, however, are under scrutiny as the U.S. Supreme Court considers arguments that they are illegal. A ruling could come as soon as this week, adding uncertainty to trade policy and financial markets.
Meanwhile, federal regulators are sounding the alarm over a sharp rise in fraud targeting older Americans. The Federal Trade Commission reports seniors lost about $2.4 billion to scams in 2024 — nearly four times the roughly $600 million reported in 2020. The FTC notes those figures likely understate the true impact, as many fraud cases go unreported.
On Wall Street, stocks were mixed Monday as investors pulled back from artificial intelligence-related plays and rotated into sectors more sensitive to the broader economy. Consumer discretionary and industrial stocks saw gains, while healthcare shares also attracted renewed interest.
As the holiday season reaches crunch time, shoppers are increasingly turning to gift cards. WalletHub ranked the best gift cards this year based on fees, discounts, and popularity. Its top five picks are Sephora, Target, Starbucks, Disney, and Chipotle.
In another major consumer update, federal regulators issued warning letters to four of the nation’s largest retailers after investigators found recalled infant formula still on store shelves weeks after a recall. The Food and Drug Administration accused Walmart, Target, Kroger, and Albertsons of continuing to sell or offer for sale ByHeart baby formula linked to a botulism outbreak that has sickened 51 infants across 19 states.
