Trump’s surprising 25% truck tariff: Is it a national security issue?
President Donald Trump has announced the removal of additional tariffs impacting the auto sector. Effective November 1, the U.S. will impose a 25% tariff on all imports of medium- and heavy-duty trucks. This move is part of the administration’s ongoing strategy to promote domestic manufacturing and lessen reliance on foreign vehicles. Short-term effects may include […]
Factory Activity in China Shrinks for Seven Straight Months Due to Tariff Pressures
China’s Manufacturing Activity Declines On Friday, China’s National Bureau of Statistics announced that manufacturing activity contracted for the seventh month in a row this October, and the drop was steeper than expected. The Purchasing Managers Index (PMI), which is a crucial measure of factory performance, decreased from 49.8 in September to a mere 40 in […]
Examining the Errors in Harvard’s Tariff Research
How Harvard Researchers Accidentally Doubled the Tariff Effect When Federal Reserve Chairman Jerome Powell mentioned rising import prices as proof that tariffs were driving inflation, he likely referenced new findings from Harvard Business School. Their key conclusion indicates that import prices have surged “roughly twice” as much as domestic prices—specifically, a ratio of 1.8 times—which […]
Trump intends to reduce China’s fentanyl tariff and anticipates a significant advancement at the Xi Jinping meeting.
Trump Announces Tariff Cuts on China Over Fentanyl Issues In Gyeongju, South Korea, President Trump shared on Wednesday his intention to reduce tariffs on Chinese fentanyl exports by 20%. This decision comes amidst discussions surrounding the alarming number of fentanyl-related deaths—about 330,000 Americans over the last five years. He expressed optimism that Chinese President Xi […]
Discussions between the US and China outline rare earths and a tariff break for Trump and Xi to think about
On Sunday, economic officials from China and the U.S. quickly established the groundwork for a trade agreement. This deal involves raising U.S. tariffs and putting a hold on restrictions concerning Chinese rare earth exports, which will be finalized later this week in a meeting between U.S. President Donald Trump and Chinese President Xi Jinping, according […]
Trump imposes a 10 percent tariff on Canada during Reagan ad dispute
President Trump, on Saturday, lashed out at Canada after they aired an ad during the World Series, which he claims suggests an additional 10% tariff on top of existing rates. The ad features former President Ronald Reagan discussing “free and fair trade,” notably his decisions on tariffs against Japan in 1987. Critics argue the Ontario […]
Inflation Drops More Than Anticipated, With No Indications of Tariff Strain
Consumer prices saw a smaller-than-anticipated rise in September, according to government data released on Friday. This could open the door for additional interest rate cuts by the Federal Reserve and indicates that tariffs aren’t significantly impacting household expenses. The consumer price index increased by 0.3% last month, a marked decrease from August’s 0.4%. Economists had […]
The Worry About Tariff Inflation Is Over
Sorry, tariff supporters. The data has spoken For quite some time, those opposed to President Trump’s tariff approach have been, well, you know, saying that inflation was around the corner. Instead of a wave, it feels like we’ve just seen a little ripple—and now it’s pretty much gone. Advocates for tariffs had a straightforward argument: […]
Study reveals that most tariff costs are shouldered by US businesses and consumers.
Economic Impact of Tariffs on U.S. Consumers and Businesses A recent analysis has shown that the costs associated with tariffs are primarily being shouldered by U.S. businesses and consumers, rather than foreign exporters. According to economists at Goldman Sachs, as of August, U.S. businesses were absorbing about 51% of these costs, while consumers were taking […]
EUR/USD pulls back from a two-week peak as Trump softens tariff threats
The euro (EUR) declined against the US dollar (USD) on Friday, breaking a three-day rise. As of now, EUR/USD is around 1.1663, sliding down from a two-week peak earlier that day. On the flip side, the US Dollar Index (DXY), which measures the dollar’s performance against a selection of six major currencies, rebounded from several […]