Did the U.S. just start a trade war with penguins? 🐧 Here's what we know about the 10% tariff on the Heard and McDonald Islands.

Elon Musk and DOGE have taken a blowtorch to federal agencies. But the tariffs are a helpful reminder that it's Donald Trump who's fiddling while it all burns.

Ridiculed for imposing trade tariffs on frozen islands largely inhabited by penguins, Donald Trump's formula for calculating those levies has a serious side: it is also hitting some of the world's poorest nations hardest.

The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board.