Former Treasury Secretary Janet Yellen criticized former President Trump’s treatment of U.S. allies as “appalling” and urged Canada and other countries to retaliate against protectionist measures rather than “accept this lying down.” Yellen argued that tariffs have worsened affordability for Americans and weakened cooperation with allies. Bloomberg Economics estimates the U.S. effective tariff rate at 11.2%, nearly 9 percentage points above early 2025 levels.