International taxes

Following a major Supreme Court ruling on tariffs, which drew a quick response from President Trump, banks and their commercial clients are expecting trade issues to remain in flux for the foreseeable future.

Key measurements of small businesses' health remained stable in 2025, according to a new study by the 12 regional Federal Reserve banks. But those firms' optimism about the future reached its lowest point since 2020.

Fintech lenders are positioned to help businesses navigate the latest round of global tariffs announced by President Trump, even as the volatility causes overall decreases in loans.

The Royal Bank of Canada's base outlook is that tariffs will remain at their current levels. But it also sees a possibility that U.S. trade policy will bring on a severe North American recession.

President rushes to preserve tariff agenda following Supreme Court ruling against his use of an emergency-powers law.

Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House's tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.

The Supreme Court Friday issued a 6-3 ruling that held that a law granting the White House economic emergency powers does not include the power to tax imports.

In a blow to the President's economic agenda, the high court said the trade barriers could not stand.

Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank's credibility depends on its ability to bring inflation back to its 2% target.

Banks typically prefer to steer clear of politics. But in 2025, politics would not steer clear of banks

Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.

In an environment of persistent economic unease, banks have a unique opportunity to help small businesses, Sekou Kaalund, U.S. Bank's head of branch and small business banking, said at American Banker's 2025 Small Business Banking conference.

An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.

Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.

After a quarter in which Goldman Sachs beat Wall Street's expectations, CEO David Solomon said he was seeing a "meaningful improvement" in the macroeconomic environment.

JPMorgan estimates the effort, which will ramp up the amount of capital, resources and personnel that it dedicates to a variety of sectors, such as rare earth minerals, pharmaceutical precursors and robotics, will add as much as $500 billion to what it would've provided anyway.

Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.

Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.

The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.

As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.