Trump indicates he may not prolong the July tariff deadline, while hinting at an unknown TikTok buyer.
On Sunday, President Trump seemed to downplay the idea of extending the July deadline concerning tariffs. After implementing a 90-day extension in April with his “liberation day” tariffs, his administration has reportedly struck deals with various countries, including the UK. While Trump showed last week that he might be open to adjusting deadlines, his comments […]
Treasury leader expects 10 additional tariff agreements by Labor Day
WASHINGTON – On Friday, Treasury Secretary Scott Bescent mentioned that the US might finalize 10 additional tariff agreements with various countries before Labor Day. This statement comes as the European Union seems to be moving towards a new trade deal. Bescent believes these trade agreements could significantly benefit the US economy, akin to the enhancements […]
European car stocks rise 2% following White House’s suggestion of extending tariff deadline
American Fund Managers Welcome Decision to Scrap Section 899 The Institute of Investment Companies (ICI), which represents US fund managers and some European entities, has expressed support for the Senate Finance and House Ways and Means Committee’s decision to remove Section 899 from President Trump’s expense bill. Previously, ICI had lobbied against this section, arguing […]
Powell Needs to Rely on the Data Instead of the Boston Fed’s Inaccurate Tariff Study
Inflation by Assumption: Fed Tariff Shortcuts Recently, Federal Reserve Chair Jerome Powell stirred some conversation with his remark regarding new tariffs potentially leading to price increases. He stated that those tariffs would inevitably be passed onto consumers, suggesting a significant jump in prices due to them. However, this viewpoint seems to reflect Powell’s personal circle […]
Powell Counters Trump, States Tariff Uncertainty Calls for Keeping Rates Unchanged
Fed Chair Powell Addresses Interest Rates and Tariffs During a hearing before Congress on Tuesday, Federal Reserve Chairman Jerome Powell made it clear that the central bank isn’t in a position to reduce interest rates just yet. He pointed to ongoing uncertainty about the impact of new tariffs on consumer prices and emphasized that the […]
American Banks That Supported Ireland’s Financial Recovery Struggle with Tariff Concerns
US Tariffs and Their Impact on Ireland’s Financial Sector When the US imposed significant tariffs on its trading partners in April, BlackRock CEO Larry Fink happened to be in Ireland. At that time, Fink had just secured a large agreement with the Irish government. While he acknowledged understanding the rationale behind Donald Trump’s actions, he […]
Inventories Remain Unchanged, Signaling No Tariff Pressure on the Economy
U.S. Business Inventory and Sales Update Sales dipped slightly, while U.S. business inventory remained unchanged in May, according to Tuesday’s data from the Census Bureau. This suggests that the recent tariff expansions haven’t significantly disrupted the economy, as businesses seem to show no signs of supply chain stress or major precautions. The total inventory across […]
EU plans to propose a 10% flat tariff on exports to the US to ease tensions with Trump
The European Union appears ready to agree to a flat 10% customs duty on all exports to the US. This move seems aimed at avoiding sudden obligations that could impact vital sectors like automobiles, pharmaceuticals, and electronics. According to the German Business Daily Handelsblatt, this was offered to officials in the Trump administration as a […]
The Increase in Stock Market Gains for Typical Middle-Class Americans Since Trump’s Tariff Announcement
Gallup reports that 71% of middle-income Americans have invested in the stock market, and their fortunes have fluctuated during a time of uncertainty since President Trump announced trade tariffs on April 2. As we approach the official start of summer, those who resisted the urge to sell in a panic during significant market declines have […]
Medium-sized businesses find chances in tariff turmoil.
Middle Market Businesses See Opportunities Amid Uncertainty While many perceive uncertainty, middle market businesses are identifying potential opportunities. A recent survey from KeyBank highlights that most mid-sized companies are focusing on adapting to the fluctuating trade policies under President Trump. Interestingly, they see these challenges as a chance to improve their operations. The survey revealed […]