The Daily Money: Will tariffs still be a thing in 2028?
Good morning! It’s Daniel de Visé with your Daily Money. Special props to our estimable colleague Betty Lin-Fisher, who provided valuable collaboration on today's edition.
It’s hard enough to track President Trump’s tariffs from one day to the next. Imagine trying to predict where import taxes will stand in 2028.
Trump has enacted a flurry of tariffs in the early days of his administration. Tariff policy seems to shift almost daily. It’s tough to predict where the rates will sit in a week, let alone in three years, at the end of Trump’s term.
But it’s a question worth asking. We asked four economists and academicians to predict what Trump’s tariff policy may look like in 2028. Here’s what they told us.
401(k) retirement plans reach a milestone
Half of all workers in private-sector America now participate in 401(k) plans, a sign that tax-advantaged retirement savings may be catching on at last.
As recently as 2010, federal data shows, barely two-fifth of workers in private industry held 401(k)-type accounts. Between that year and 2024, however, the participation rate tiptoed up to 50%.
Over the past half century, the federal government has been trying to persuade Americans to build savings to cover their retirement, and to supplement Social Security, using tax breaks as a lure. With participation reaching 50%, it would seem that effort is half successful.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.