Meanwhile, the Liberty Justice Center filed a lawsuit against the Trump administration on behalf of two small businesses in the U.S. On Thursday, the Trump administration announced tariffs of 10% to 12.5% on trading partners it said had failed to block imports made with forced labor. According to the Yale Budget Lab, these policies raised America's average tariff rate to almost 23%, the highest level since 1909. Although Trump's tariffs had little apparent effect on inflation during the first year of his second term, they affected the economy in other ways. But so far, at least, the numbers don't show that Trump's tariffs have turned things around.