tariffs
China’s trade surplus surpassed $1 trillion for the first time following a 5.9% export surge in November, reversing October’s unexpected decline. Imports rose by just under 2%, highlighting a strong global demand for Chinese goods. While exports to the U.S. dropped nearly 29% year-on-year, China expanded trade throughout Southeast Asia, Africa, and Latin America. Economists […]
The Trump administration has unveiled a $12 billion one-time payment program—Farm Bridge Assistance—for farmers impacted by tariff hikes, especially those growing soybeans and corn. Announced during a White House event with farmers, the aid comes amid rising input costs and declining crop prices. Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins joined the rollout, […]
Americans are facing rising grocery bills, with food prices increasing by 0.5% from July to August—the fastest jump since late 2022. This is causing many to cut back on non-essential spending. Three key factors are driving grocery inflation: Tariffs from the Trump administration, especially on imported goods like Brazilian coffee, have raised costs. Climate change has disrupted […]
71%, of Americans say they plan to shift their savings approach this summer to prioritize emergency savings and flexibility, according to a new Vanguard survey. People are tightening their belts, as concerns about tariffs, inflation, job security and market volatility have prompted many consumers to pare back their spending and increase their savings, financial experts say. […]
A U.S. trade court ruled Trump’s broad tariffs illegal, saying he exceeded his authority by bypassing Congress. The decision boosts markets, but the administration plans to appeal. Some tariffs under different laws remain in place. US federal court blocks Trump from imposing sweeping tariffs | Trump tariffs | The Guardian
Apple is planning to increase the prices of its iPhone lineup set to launch this autumn, though it is trying not to make it seem as if the hikes are connected to the U.S. tariffs on imports from China, The Wall Street Journal reported, citing anonymous sources. The company is considering instead linking the price hikes […]
The U.S. and China agreed to cut most tariffs and pause their trade war for 90 days to allow further talks. Both sides will reduce tariffs by 115 percentage points, easing tensions that had threatened global trade. Markets rallied on the news, but uncertainty remains over a long-term resolution. US and China reach deal to […]
Top shoe brands like Nike, Adidas, and Skechers are asking President Trump to remove new tariffs on footwear. They say the high costs could force businesses to close, raise prices for customers, and cause shoe shortages. The brands also warn that the tariffs won’t bring jobs back to the U.S. and instead create uncertainty for […]
The Trump administration has ended the de minimis exemption for low-value Chinese imports, affecting up to 4 million parcels daily. The change, effective May 2, is expected to raise prices and slow deliveries as tariffs up to 145% are applied. The move targets cheap imports that have undercut U.S. businesses, benefiting domestic manufacturers but straining […]
Donald Trump called Amazon founder Jeff Bezos to complain about a report that Amazon might show U.S. tariff costs on its product listings. After the call, Amazon said the idea was only being considered for a small part of the site and then confirmed it was canceled. The White House criticized the idea, calling it […]
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