Treasury Secretary rejects the idea of tariffs being considered taxes, despite federal revenue reports
Tariffs and Taxes Debate Continues On Thursday, Treasury Director Scott Bescent asserted that tariffs should not be classified as taxes, which goes against the conventional economic understanding of these key trade instruments used by President Trump. During a Senate Finance Committee hearing, Senator Katherine Cortez Masto (D-Nev.) challenged Bescent’s viewpoint while discussing the federal revenues […]
Euro reaches three-year highs above 1.1600 due to concerns over tariffs and expectations of Fed rate cuts
The euro has risen above 1.16 for the first time since November 2021. Updated tariff concerns and weak inflation data are impacting the US dollar. EUR/USD bulls are eyeing an annual high around 1.1575. EUR/USD has surpassed 1.1600 for the first time since late 2021. This rise is largely attributed to new tariff threats from […]
Dow takes a 200-point drop after Trump warns of individual tariffs
On Thursday, shares took a hit as investors reacted to escalating trade tensions. This followed President Donald Trump’s announcement of possible unilateral tariffs on significant US trading partners. The Dow Jones industrial average dropped by 230 points (0.54%), settling at 42,634.95. The S&P 500 fell by 0.28%, while the Nasdaq dipped 0.24%. Even the Small-Cap […]
Small-cap stocks are finally gaining interest as concerns over tariffs and inflation diminish.
Small Caps Showing Strength Amid S&P 500 Highs The S&P 500 might be nearing new record highs, but it seems the small-cap stocks are taking center stage this week. The Russell 2000 index has risen 0.8%, outperforming the S&P 500, Nasdaq, and Dow. This positive trend has positioned the Small Cap Index for its ninth […]
Trump supporters feel the impact of rising prices in stores, with some attributing it to tariffs.
Shoppers tend to express their opinions through their spending habits. Even some who voted for President Trump are finding it hard to justify rising prices linked to his trade policies, according to reports. A long-distance truck driver from Los Angeles, referred to as Omar, shared that his family encouraged him to support Trump during the […]
US and China come to an agreement to relax export restrictions and maintain the pause on tariffs
US and Chinese officials announced on Tuesday that they have established a framework to revive a trade ceasefire and lift some of China’s restrictions on rare earth exports. However, there was little indication of a sustainable resolution to the ongoing trade conflicts. After two days of negotiations in London, U.S. Commerce Secretary Howard Lutnick mentioned […]
Federal appeals court puts hold on Trump’s tariffs while they are reviewed
Trump’s Tariffs Stay in Place Following Court Decision A federal appeals court has ruled in favor of President Trump’s tariffs, effectively putting them back in place for now. This decision came on Tuesday, as the U.S. Federal Circuit Court of Appeals suspended a previous ruling that had blocked these tariffs. The court has decided to […]
Lawmakers frequently bought and sold stocks as Trump’s tariffs took effect: report
In April, congressional trading surged as President Trump launched his tariffs, sending the stock market into a frenzy. Interestingly, some of the most active traders were those who had previously supported a ban on such trading, according to public records. From April 2nd to April 8th, over 12 House members and their families engaged in […]
World Bank supports Trump’s trade concerns and calls for countries to reduce tariffs on the US.
World Bank Supports Trump’s Claims on Unfair Trade Practices On Tuesday, the World Bank acknowledged President Trump’s concerns over unfair trade practices by foreign countries towards the United States, suggesting that it would be beneficial for the U.S. to reduce tariffs on its exports. Top economists from various international organizations expressed support for funding initiatives […]
Canned food prices may increase by up to 30 cents each because of tariffs on steel.
Prices for cans of soup, beans, and even pineapples are likely to rise—not necessarily because of the food inside, but due to the can itself. The Trump administration’s recent decision to increase tariffs on imported steel by 50% is projected to elevate the cost of tin-coated steel, a crucial component for food cans. Experts in […]