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Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Prices for a wide range of products increased in July, even as inflation held steady, with economists expecting President Donald Trump's tariffs to further raise costs for many Americans. The Consumer Price Index rose by 0.2% in July and reached a yearly rate of 2.7%, according to data released by the Bureau of Labor Statistics on Tuesday, Aug. 12. That was barely lower than the 2.8% annual inflation expected in the Dow Jones forecast, CNBC reported. Core inflation, which doesn't include the volatile food and energy categories, jumped by 0.3%, bringing the annual rate to 3.1%. That's the hi…

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by Chris Spiker
Business
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It The United States and the United Kingdom have announced a trade agreement, the first deal since President Donald Trump announced sweeping tariffs that have shaken the US economy. Trump unveiled the outline of the new trade deal in the Oval Office on Thursday, May 8. The agreement keeps the original 10% baseline tariff that Trump imposed on the UK during his "liberation day" announcement nearly a month ago. A chart posted by Trump on his social media platform Truth Social claimed that the US-UK deal will bring in $6 billion in tariff revenue and $5 billion in new market access. "Today'…

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by Chris Spiker
Business
Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners
Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners President Donald Trump has announced sweeping new tariffs, accusing allies and adversaries of looting the US economy, despite consumer confidence sinking domestically and growing recession fears. Trump revealed the tariffs during a news conference in the Rose Garden at the White House on Wednesday, April 2. The President called the day "liberation day," alluding to what he claims is a trade imbalance caused by his predecessors. The new measures impose a baseline 10% tariff on all imports. Those will begin on Saturday, April 5, according to the White House. Sharply higher rates for dozens o…

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by Chris Spiker