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 […]
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 and South Korea’s new president to pursue a tariff deal
Trump and South Korea’s New President Discuss Tariffs In his first conversation with South Korean President Lee Jae-myeon since taking office, President Donald Trump has agreed to explore a tariff deal, as reported by Lee’s office on Friday. This call marked the beginning of discussions between the two leaders following Lee’s election. Lee Jae-myeon succeeded […]
Public markets ready for US IPO rebound amid tariff concerns, says NYSE President Martin
NEW YORK – Lynne Martin, President of NYSE and owner of InterContinental Exchange, mentioned on Thursday that the open market is poised for action, driven by robust investor demand, despite ongoing tariff concerns. This environment sets the stage for a potential rebound in the U.S. IPO market. Although there’s some hope that 2025 might eventually […]
Higher-Income Consumers Carry the Largest Tariff Burden, CBO Reports
Impact of Tariffs on Consumers A recent analysis from the Congressional Budget Office suggests that the recent tariff increases initiated by the Trump administration are likely to affect high-income consumers the most. The CBO indicates that while prices will rise moderately for all income groups, the most significant increases will be seen in durable goods. […]
Stocks Rise Again on Wall Street as Tariff Concerns Diminish
Barclays Raises Year-End S&P 500 Target On Wednesday, Barclays became the latest firm on Wall Street to increase its year-end target for the S&P 500. Analysts seem to feel that perhaps the worst of this year’s tariff impacts could be behind us, which is a somewhat optimistic shift. According to a Barclays analyst, “It is […]
White House urges countries to submit their best trade proposals by Wednesday as it faces July tariff deadline, according to report.
It seems the White House is hurrying to finalize trade deals by a Wednesday deadline, pushing for the best offers from partners. This urgency follows President Trump’s “mutual” tariffs that are set to take effect on July 8, after a three-month hold, unless trades occur before then. A draft letter from U.S. trade representatives, which […]
DNC sets up taco truck near RNC headquarters to poke fun at Trump’s tariff policies
Democrats Use Food Truck Stunt to Criticize Trump’s Tariff Policy On Tuesday, the Democratic National Committee (DNC) set up a custom food truck outside the Republican National Committee (RNC) headquarters in Washington, D.C. This truck, wrapped with images of former President Donald Trump, offered free lunches to those passing by. But, of course, in Washington, […]
Gold price update for today, June 3, 2025: Gold rises amid tariff concerns
Gold futures started this Tuesday at $3,406.50 per ounce, showing a 1% increase from Monday’s closing price of $3,370.60. However, prices have dipped below the $3,400 mark after briefly hitting $3,417.80 earlier in the trading session. This modest uptick in gold prices coincided with news of heightened tariffs on steel and aluminum imports, alongside rising […]
Trump requests appeals court to delay US tariff suspension for the time being, in another case of its sort
The Trump administration is currently engaged in a legal struggle to implement President Donald Trump’s key economic initiative, which involves the Second Court’s decision that halted his cleaning and mutual tariff plans. The administration filed a new appeal on Monday with the U.S. DC Court of Appeals, just days after a related challenge was raised […]