The federal government officially shut down at 12:01 a.m. Wednesday, October 1, following the Senate’s failure to pass the House-approved continuing resolution (CR) [217 - 212]. The House remains in recess, leaving the Senate as the only chamber currently in session and capable of taking action to reopen the government.
It has been an eventful week in the world of tariffs and trade. From President Trump’s discussion of providing tariff revenue to farmers, the formalization of the US-EU tariff agreement to new tariffs placed on pharmaceuticals, trucks, and cabinets, this week has seen meaningful developments in the administration’s trade policy.
This week, we’ve compiled recent pieces that highlight the perspectives of industry leaders and their outlook on today’s rapidly changing economic landscape.
The threat of a government shutdown continues to loom over Washington after a week of dueling proposals. The Republican stopgap was rejected by Democrats on a 48-44 vote after passing the House on Friday morning. Sen. Fetterman (PA) was the only Democrat to vote for the GOP proposal, while Sen. Murkowski (AK) and Sen. Paul (KY) voted against it. The Democratic counterproposal was also rejected in a 47-45 vote. These outcomes were expected, The GOP bill does not extend the ACA subsidies slated to expire Dec. 31, and Democratic leaders vowed to oppose any bill that doesn’t extend them.
The Make America Healthy Again Commission unveiled its second strategy document this afternoon, closely mirroring the draft circulated to industry groups last month. The plan identifies 128 recommendations to tackle what it calls the “four potential drivers of chronic disease:” poor diet, chemical exposure, lack of physical activity and chronic stress, and overmedicalization.
The Federal Circuit ruled on August 29 that President Trump’s global tariffs are largely illegal under the International Emergency Economic Powers Act, finding he exceeded his authority. However, the court allowed the tariffs to remain in place while the case proceeds, creating major uncertainty for international trade.
