Last night, the historic 43-day government shutdown finally ended. The final tally was 222 to 209. The House passed legislation that reopens the federal government and funds several agencies but excludes an extension of the enhanced Affordable Care Act (ACA) premium tax credits. The bill also reinstates federal workers laid off during the shutdown, guarantees back pay for furloughed employees, and prevents further layoffs through the holiday season.

On Friday, President Trump announced he is terminating U.S.–Canada trade negotiations, citing an Ontario government television ad that uses excerpts from a 1987 Ronald Reagan radio address to argue that tariffs harm American workers; the Reagan Foundation criticized the ad’s use of Reagan’s remarks and said it was not authorized. 

Last Thursday, the Senate approved its version of the annual defense policy bill (S.2296) in a 77-20 vote. The measure authorizes $925.8 billion in national defense spending, $32.1 billion above the levels requested by the Trump administration. The vote ends a nearly month-long impasse over the amendment process that had stalled the bill since early September.

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.