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Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff
Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff President Donald Trump's trade war with Mexico is about to raise the prices of a major ingredient in everything from pizza and pasta sauces to salads and sandwiches. Trump will begin imposing a 17.09% tariff on fresh tomato imports from Mexico on Friday, Aug. 1. The move comes as the Commerce Department officially withdrew from a longtime trade agreement governing imported tomatoes on Monday, July 14. The tariff is slightly lower than the 21% duty floated by Trump officials in April, Bloomberg reported. Trump has also announced an additional 30% tariff on other Mexican goods …

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by Chris Spiker
Business
Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP
Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP Private employers lost more jobs than they added for the first time in more than two years, as new data shows Americans pulling back on spending under the weight of inflation and President Donald Trump's sweeping tariffs. Businesses lost 33,000 jobs in June, according to the ADP National Employment Report released on Wednesday, July 2. That was the first monthly drop since March 2023 and behind May's downwardly revised figure of 29,000. June's numbers came in far below Wall Street's expectations, with Dow Jones economists forecasting a gain of 100,000 jobs, CNBC reported. "Though…

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by Chris Spiker
Business
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.2% from March, the Bureau of Labor Statistics said on Tuesday, May 13. Consumer prices rose 2.3% from April 2024, the smallest yearly inflation since February 2021. The annual inflation number was slightly below the 2.4% Dow Jones forecast, CNBC reported. Wall Street didn't react much to the consumer price index (CPI) data, with stocks and Treasury yields staying relatively unchanged when …

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by Chris Spiker
Business
Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears
Trump Halts Mexico Tariffs Amid Rising Trade Tensions, Domestic Economic Fears President Donald Trump is reversing course on tariffs against Mexico, stepping back from a trade war he started with the nation's southern neighbor. In a Thursday, Mar. 6 post on his social media platform Truth Social, Trump said he struck a deal with Mexican President Claudia Sheinbaum to delay tariffs on goods covered by the United States-Mexico-Canada Agreement (USMCA). The pause will be in effect until Tuesday, Apr. 2. "I did this as an accommodation, and out of respect for, President Sheinbaum," Trump posted. "Our relationship has been a very good one, and we are working hard, to…

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by Chris Spiker