Survey indicates companies are transferring tariff expenses to consumers through price increases.
Tariffs and Their Impact on Businesses The Federal Reserve Bank of New York recently published a survey indicating that companies are passing on increased tariff costs to consumers through higher prices. This survey, conducted from May 2 to 9 among businesses in New York and parts of New Jersey, revealed that a significant majority of […]
Gold Price Outlook: XAU/USD sees slight increases above $3,300 as traders anticipate US-China trade discussions
In the early Asian session on Tuesday, gold is expected to trade around $3,325, showing some mild gains. Tuesday marks a meeting in London between US and China trade officials. For the seventh month in a row, China’s central bank has increased its gold reserves as of May. The gold price (XAU/USD) received a boost […]
Stainless Steel Market Responds to Tariff Increases – Today’s Crude Oil Prices
Customs Hike Shakes Up the US Stainless Steel Market Recently, the U.S. stainless steel market has been unsettled by a significant increase in tariffs. President Trump’s adjustments to the Section 232 Tax raised import duties on steel and aluminum from 25% to 50%. This change took effect on June 4, catching both suppliers and buyers […]
Trump increases steel tariffs to address foreign market manipulation
New Steel Tariff Increases to Protect U.S. Industry Peter Navarro, senior counselor for trade and manufacturing at the White House, recently addressed the necessity of introducing higher tariffs, which he referred to as “big and beautiful bills,” alongside ongoing global trade negotiations. President Trump announced a significant rise in iron tariffs from 25% to 50%, […]
Trump indicates potential military response if Iran increases uranium enrichment
Trump’s Firm Stance on Iran’s Uranium Enrichment In Washington, President Trump expressed strong opposition to Iran’s uranium enrichment activities, hinting at potential military action after reports surfaced regarding Tehran’s clandestine development of a weapons-grade nuclear program. “They won’t be rich. If they’re going to make them rich, we’ll have to do the opposite,” he remarked […]
Money Transfers to Mexico Plummet as Trump Increases Pressure on Illegal Immigration
Remittances to Mexico Continue to Decline For three consecutive months, remittances sent by Mexican workers to Mexico have seen a significant drop. The Bank of Mexico reported a 12.1% decrease in remittances for April 2024 compared to the same month last year, marking the largest decline in 13 years. In absolute figures, remittances totaled $4.746 […]
Gold price update for Thursday, June 5, 2025: Gold increases amid ongoing trade tensions
Gold Futures Update Gold futures kicked off on Thursday at $3,398 per ounce, reflecting a rise from Wednesday’s closing price of $3,373.50, which had increased by 0.7%. Earlier trading saw gold prices surpass the $3,400 mark as investors looked for significant developments in US trade negotiations. Since the beginning of the trade war, economic indicators […]
Australian Dollar remains steady as US Dollar increases before Initial Jobless Claims.
The Australian dollar remains stable despite a decrease in Australia’s trade surplus. China’s Caixin Services PMI rose to 51.1 in May, up from 50.7 in April. The US dollar is facing difficulties due to disappointing economic data released on Wednesday. The Australian dollar (AUD) held its ground against the US dollar (USD) on Thursday, staying […]
Minneapolis chaos: Progressive crowd throws items and pushes federal agents as anti-ICE violence increases
Increase in Attacks on Immigrants and Enforcement Officials Since President Donald Trump’s return to office, there has been a staggering 413% rise in attacks against immigrants and customs enforcement officials, according to a Department of Homeland Security director speaking to Blaze News. The growing “abolition of police” movement among anti-ICE and progressive groups, particularly in […]
CleanSpark increases Bitcoin mining by 9% in May, enhancing hash rate and power capacity.
CleanSpark Sees Significant Rise in Bitcoin Production CleanSpark’s Bitcoin mining output increased by over 9% in May, bringing its total holdings to 12,502 BTC—twice the amount from the same period last year. The company reported mining 694 BTC in May, which is a 9.4% rise from April’s 633 coins. Their hashrate also improved significantly, reaching […]