Back to today’s briefing

Story perspectives

Trump's Economic Policies Spark Voter Discontent and Declining Dollar

1/27/2026

44 5 Full Breakdown

Summary

Story summary

U.S. President Donald Trump faces scrutiny over economic policies that Justin Wolfers says are the most interventionist in decades.
The dollar's decline is linked to Trump's trade policies and threats against the Federal Reserve.
A poll shows a majority of voters believe the country is worse off under Trump, with disapproval of his handling of key issues.
Canadian tourism to Michigan has fallen 16% due to tensions from Trump's tariffs.

History

Historical Context

The Smoot-Hawley Tariff Act, enacted on June 17, 1930, raised U.S. tariffs on over 20,000 goods, aiming to protect American industries during the Great Depression. This protectionist measure led to retaliatory tariffs from trading partners, resulting in a 66% decline in global trade. The act is often cited as a cautionary example of how isolationist policies can exacerbate economic crises.

1 of 2

Story summary

U.S. President Donald Trump faces scrutiny over economic policies that Justin Wolfers says are the most interventionist in decades.
The dollar's decline is linked to Trump's trade policies and threats against the Federal Reserve.
A poll shows a majority of voters believe the country is worse off under Trump, with disapproval of his handling of key issues.
Canadian tourism to Michigan has fallen 16% due to tensions from Trump's tariffs.

1 / 2