The Broader Economy

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An Independent Team to Decode Government

GovFacts is a nonpartisan site focused on making government concepts and policies easier to understand — and programs easier to access.

Our articles are referenced by trusted think tanks and publications including Brookings, CNN, Forbes, Fox News, Pew Research, Snopes, The Hill, and USA Today.

Dive Deeper Into The Broader Economy

All Articles on The Broader Economy

Who Actually Wins and Loses in a U.S.-Canada Trade War

Here is a fact about the U.S.-Canada trade relationship that tends to surprise people: Canada, a country of forty million…

IEEPA Tariffs Are Gone. Here’s Which Presidential Trade Powers Survived the Supreme Court Ruling.

The Supreme Court's February 20, 2026 ruling in Learning Resources, Inc. V. Trump didn't end tariffs. It ended one particular…

Most-Favored-Nation Status, Explained: Why South Korea’s Tariff Deal Doesn’t Automatically Extend to Everyone

Hyundai's November 2025 deal with the United States turned on a single number: ten percentage points. That was the gap…

The Supreme Court Struck Down IEEPA Tariffs. Here’s the 1974 Law Trump Invoked Hours Later.

The Supreme Court handed down its ruling at 10 a.m. On February 20, 2026. By that afternoon, the White House…

If Section 122 Tariffs Are Struck Down, Here’s Whether Importers Get Their Money Back

No president had ever used Section 122 of the Trade Act of 1974 in its fifty-year history. That changed on…

Section 122 Tariffs Are Now Law. Here’s What That Means for Prices.

Four days after the Supreme Court struck down the administration's emergency tariffs, a new 15% surcharge on most U.S. Imports…

Section 122 Was Written for a Dollar Crisis. Trump Just Used It for Something Else.

Fifty-two years. That is how long Section 122 of the Trade Act of 1974 sat untouched, through the Latin American…

Can Businesses Sue Over the New Section 122 Tariffs?

President Trump signed a new tariff proclamation within hours of the Supreme Court striking down the IEEPA tariffs on February…