The Year in Tariffs.

From Marketplace, I'm Surrey Beneshore in for David Brancaccio.

A year ago today, the president pulled out a chart in the now paved over Rose Garden Lawn and unleashed chaos onto global supply chains.

He announced a so-called Liberation Day tariffs, which would go on to change a bunch of times before being struck down as unconstitutional by the Supreme Court earlier this year.

Marketplace Senior Washington correspondent Kimberly Adams has more on what the year in tariffs has meant for the economy.

The tariffs were mostly paid by us, consumers and small businesses.

Justine Khan is founder and CEO of Botnia, a skincare company based in California.

She's been dealing with pricier essential oils from France, packaging from Spain, herbs from Tibet.

And so what used to cost, you know, if we placed a $10,000 order, now cost us $15,000.

And so that has really impacted our business.

When I ask economists about the broader economic impact,

it's thankfully not been an utter disaster.

Ryan Young is with the Competitive Enterprise Institute.

Because the enacted tariff rates were roughly half of what the president threatened at the Rose Garden Press Conference.

But it's still been pretty bad.

Higher prices for businesses and consumers across many sectors, bruised relations with our allies,

and very few, if any, of the

economic benefits the Trump administration promised. But one industry has gotten a boost,

says Scott Lincolum at the Cato Institute.

The offer of exemptions and the prospect of new tariff protection has led to a dramatic rise in lobbying

on trade in Washington. A six-fold increase, according to Linzacum, as just about every industry

affected by tariffs looks for a way to get out of paying them. In Washington, I'm Kimberly Adams for Marketplace.

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