Trump disputes reporter on tariffs policy, labels him a ‘lunatic’
President Donald Trump had a heated exchange with reporters on Thursday regarding newly signed tariffs, asserting that much of his first term was spent “fighting madmen like you.” This confrontation occurred right after a ceremony at the White House where he signed a series of enforcement actions aimed at bolstering tariffs and strengthening US trade […]
Potential new tariffs may increase the costs of Ozempic and Wegovy.
The trade agreement between the US and the European Union is set to introduce a 15% tax on nearly all imports from Europe, impacting products from French wines to German automobiles and sought-after pharmaceuticals. Notably affected brands include the injectable medications Ozempic and Wegovy, which have gained popularity for their effectiveness in treating diabetes and […]
Apple’s earnings and revenue surpass expectations as iPhone sales rise before Trump’s tariffs
Apple Exceeds Expectations in Q3 Earnings On Thursday, Apple announced that its sales and profits significantly outperformed expectations, suggesting that its strategies to navigate the global supply chain disruptions caused by President Trump’s trade policies have been effective so far. According to data from LSEG, Apple reported revenues of $940.4 billion for the third quarter, […]
Judges doubt Trump’s use of emergency powers for tariffs.
Appeals Court Questions Trump’s Tariff Authority In a recent hearing, a judge from an appeals court expressed skepticism toward lawyers from the Trump administration, particularly questioning the justification for imposing tariffs based on long-standing trade deficits with various countries. The 11th Circuit of the U.S. Federal Court of Appeals posed significant inquiries to U.S. Attorney […]
Toy manufacturers in the US are facing serious challenges due to tariffs from China and are sounding alarms about the need for quick solutions.
Toy Industry Faces Challenges Amid Tariff Uncertainty This summer, the U.S. toy industry has been under scrutiny due to President Trump’s tariffs on Chinese imports. There are concerns that if issues regarding price hikes, declining sales, and uncertainty aren’t addressed soon, the situation could worsen. In June, national toy prices saw nearly a 2% increase, […]
Trump Provides Mexico a 90-Day Delay to Prevent Higher Tariffs
Trump Extends Trade Agreement Deadline for Mexico On Thursday morning, President Donald Trump announced that Mexico will have a 90-day extension to negotiate a trade deal with the United States. Following what he described as a “very successful” conversation with Mexican President Claudia Sheinbaum, Trump stated that Mexico had more time to reach an agreement […]
Trump’s tariffs deadline is near, raising more questions than solutions.
On May 28th, the US International Trade Court addressed President Trump’s worldwide “mutual tariffs,” which arose from his assertion that the US trade deficit constitutes a national emergency. The Trump administration is appealing to the US Court of Appeals for the Federal Circuit. Meanwhile, other court orders have kept the customs duties in place while […]
The inflation measure favored by the Fed rises as tariffs increase prices, raising doubts about a rate cut in September.
The Federal Reserve’s preferred measure of inflation saw a slight decline in June as tariffs on imported goods began raising costs for some products. The Personal Consumption Expenditure (PCE) price index climbed by 0.3% last month, aligning with economists’ predictions from a Reuters survey. Year-over-year, PCE increased by 2.6%. Core PCE, which strips out the […]
Even with trade agreements, the impact of tariffs is only starting to unfold.
With the trade deadline approaching on August 1, news has surfaced regarding Japan’s agreement with the European Union. This deal is expected to clarify what President Trump seeks from major trading partners. Specifically, Trump has approved a reduction in Japan’s mutual tariff rate to 15%, down from 25%. Japan is also set to invest $550 […]
Trump’s tariffs: A fresh chapter in trade and funding for national defense
In June, the United States collected $27 billion from tariffs on imported goods, and this figure is likely to see an increase this month. Further details will emerge soon, so it’s worth keeping an eye on how these numbers are framed in their context. President Donald Trump secured his re-election in November 2024 by using […]