No fewer than 717 companies filed for Chapter 7 or Chapter 11 bankruptcy between January and November, according to S&P data reviewed by The Washington Post. This marks a 14 percent increase from the same period in 2024 and the highest rate since 2010, when the country was recovering from the Great Recession.

Firms that went bust pointed to inflation, interest rates and Trump’s trade policies — which have hampered supply chains and increased costs — as drivers of their financial troubles.

Business experts and economists told the Post that the Republican president’s broad tariffs have strained import-dependent companies. While inflation recently came in lower than expected — it was up 2.7% year-over-year in November — experts said many firms continue to shoulder added expenses to avoid raising prices for consumers.