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Trade War

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Here's What’s About To Cost More As Trump's China Tariffs Target Popular US Imports Here's What’s About To Cost More As Trump's China Tariffs Target Popular US Imports
Here's What’s About To Cost More As Trump's China Tariffs Target Popular US Imports Smartphones, shoes, toys, and cookware are just a few of the Chinese-made goods that could soon cost more as the Trump administration ramps up its trade war with China. A new Washington Post analysis highlights the impact of rising tariffs on consumer products widely used across the United States.  China is the second-largest exporter of goods to the US, shipping nearly $439 billion in products last year.  That includes a wide range of items found in everyday homes—many of which are now directly in the tariff crosshairs. Among the top targets: Smartphones ($41.3B in imports), …

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by Joe Lombardi
Business
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey A majority of CEOs across the country are now bracing for a recession within six months as confidence in the US economy tumbles to its lowest level in years due to President Donald Trump's tariffs, according to a new survey. The industry group Chief Executive released the findings from a poll of 329 CEOs and business owners on Monday, Apr. 14. The survey showed growing alarm over Trump's escalating tariffs, which many fear will push the country into a downturn. According to the survey, 62% of CEOs expect a recession over the next six months – the highest level in recent years and up fr…

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by Chris Spiker
News
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Concerns about inflation have spiked to their highest level in nearly 45 years, while consumer confidence plunged for the fourth straight month as Americans grow increasingly anxious about the economy, a new survey said. Americans now expect prices to climb 6.7% over the next year, the University of Michigan's Surveys of Consumers said on Friday, April 11. That's the highest inflation expectation reading since 1981 for the closely watched survey. While inflation cooled slightly in March, the latest federal numbers came before President Donald Trump announced his "liberat…

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by Chris Spiker
Business
Trump Retreats From Many Tariffs, Raises China's Rate To 125% After Days Of Market Freefall Trump Retreats From Many Tariffs, Raises China's Rate To 125% After Days Of Market Freefall
Trump Retreats From Many Tariffs, Raises China's Rate To 125% After Days Of Market Freefall President Donald Trump has stepped back from many of his tariffs while escalating Chinese duties even higher, sparking a dramatic market comeback after some of the worst trading days since the start of the COVID-19 pandemic. The 90-day pause will apparently apply to some tariffs for more than 75 countries that haven't issued retaliatory duties. Trump announced the halt on his social media platform Truth Social on Wednesday, April 9. A 10% tariff will remain in place for the countries included in the pause. The White House said the 10% duty will also apply to Canada and Mexico, NBC News…

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by Chris Spiker
Business
Volatile Markets Spiral As Trump Threatens China, White House Denies Tariff Pause Rumor Volatile Markets Spiral As Trump Threatens China, White House Denies Tariff Pause Rumor
Volatile Markets Spiral As Trump Threatens China, White House Denies Tariff Pause Rumor Chaos has shaken Wall Street for a third day as the White House denied rumors of a pause on President Donald Trump's sweeping new tariffs that sparked the worst sell-off since the start of the COVID-19 pandemic. The Dow Jones Industrial Average opened down roughly 1,250 points on Monday, April 7. The massive drop continued the market freefall that happened in the aftermath of Trump's "liberation day" announcement. Soon after trading opened, the Dow surged back into the green by around 10:15 a.m. The bounce back appeared to be in response to social media posts claiming Trump was conside…

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by Chris Spiker
Business
Brace For Higher Prices: Here’s What's Expected To Cost More Due To Trump’s Tariffs Brace For Higher Prices: Here’s What's Expected To Cost More Due To Trump’s Tariffs
Brace For Higher Prices: Here’s What's Expected To Cost More Due To Trump’s Tariffs As President Donald Trump embarks on a sweeping worldwide trade war, American consumers are bracing for a significant financial impact that is expected to go well beyond sinking stocks. The administration’s newly announced tariffs, set to take effect almost immediately, will raise prices on a broad spectrum of goods, leaving households to wonder just how much more they will pay at the register. The impending tariffs are expected to affect nearly all imports, with a minimum 10 percent increase on goods from various countries.  However, the most substantial hikes will target products fr…

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by Joe Lombardi
Business
Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs
Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs Goldman Sachs has nearly doubled the odds of a US recession, warning that President Donald Trump's sweeping new tariffs could drive up prices, slow growth, and force the Federal Reserve to cut interest rates because of higher unemployment. A recession is now 35% possible in 2025, the investment banking firm said in an economics research report published on Sunday, March 30. That's a dramatic increase from Goldman Sachs' 20% prediction made earlier in March. The increased odds come as Trump prepares to roll out sweeping new tariffs on Wednesday, April 2, which the President has dubbed "…

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by Chris Spiker
News
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Americans' concerns about rising unemployment are at their highest since the global financial crisis as President Donald Trump’s escalating tariffs and economic policies sink consumer confidence. Two-thirds of US consumers expect unemployment to increase over the next year, the University of Michigan's Surveys of Consumers said on Friday, Mar. 28. This marks the highest level of job market pessimism since 2009, reflecting widespread fears that economic uncertainty. Joanne Hsu, Michigan’s director of the surveys, said March's rising worries underscore mounting concerns across all d…

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by Chris Spiker
Business
US-Canada Air Travel Down 70% Amid Trump's Trade War, '51st State' Aggression US-Canada Air Travel Down 70% Amid Trump's Trade War, '51st State' Aggression
Us-canada Air Travel Down 70% Amid Trump's Trade War, '51st State' Aggression Bookings for flights between the US and Canada have plummeted as President Donald Trump threatens tariffs on Canadian goods and challenges the country's sovereignty.  Airline capacity between the neighboring nations has been reduced through October, aviation data firm OAG said on Wednesday, Mar. 26. Forward bookings between the US and Canada are down more than 70% compared to 2024. The most significant cuts are hitting peak travel months in July and August, when millions of Canadian tourists traditionally head south of their border. "For all scheduled airlines operating…

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by Chris Spiker
News
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically President Donald Trump has imposed a 25% tariff on all foreign-made autos, the latest in a chaotic series of tariff threats and trade war escalations that have fueled significant economic turmoil and anxiety. Trump signed an executive order to place the tariffs on cars and light trucks at the White House on Wednesday, Mar. 26. The tariffs go into effect Wednesday, Apr. 2, and the US will begin collecting duties on the following day. The measure builds on the existing 2.5% auto tariffs, which Trump has claimed would generate more than $100 billion in new annual revenue for the…

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by Chris Spiker
Police & Fire
Most Americans Say Trump Is Too Close To Russia, Erratic On Economy: Poll Results Most Americans Say Trump Is Too Close To Russia, Erratic On Economy: Poll Results
Most Americans Say Trump Is Too Close To Russia, Erratic On Economy: Poll Results A majority of Americans believe President Donald Trump is "too closely aligned" with Russia and is handling the US economy in an erratic manner, according to a new Reuters/Ipsos poll. The two-day poll, completed Wednesday, March 12, found that 56 percent of respondents — including 89 percent of Democrats and 27 percent of Republicans —agreed that Trump was too close to Moscow.  In contrast, 40 percent disagreed, and four percent did not answer the question. Trump has dramatically shifted US foreign policy since starting his second term in January, including publicly berating Ukrainian…

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by Joe Lombardi
Business
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Consumer prices rose slightly less than expected in February, but President Donald Trump's escalating trade wars and a declining labor market are keeping economic uncertainty high. Inflation increased 0.2 percent in February and 2.8 percent over the past year, according to new Bureau of Labor Statistics data released on Wednesday, Mar. 12. The yearly inflation number remained well above the Federal Reserve's two-percent target. The monthly increase was smaller than January's jump of 0.5 percent. February's figures were also a little lower than Dow Jones expectations, CNBC reported. Co…

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by Chris Spiker
Politics
Ontario Premier Walks Back 25% Surcharge Threat On Electricity To NY, Other States Ontario Premier Walks Back 25% Surcharge Threat On Electricity To NY, Other States
Ontario Premier Walks Back 25% Surcharge Threat On Electricity To NY, Other States Just one day after announcing a 25% surcharge on electricity exports to three US states–including New York–Ontario Premier Doug Ford has agreed to suspend the fee following talks with US officials. Ford and US Commerce Secretary Howard Lutnick announced Tuesday, March 11, that they had agreed to meet in Washington, DC on Thursday, March 13, alongside the US Trade Representative, to discuss the future of the U.S.-Mexico-Canada Agreement (USMCA) ahead of an April reciprocal tariff deadline. “In response, Ontario agreed to suspend its 25 percent surcharge on exports of electricity to Michigan,…

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by Michael Mashburn
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
Business
US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study
US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study Layoffs are sweeping across the country at a pace not seen in years, hitting government workers, retail employees, and tech professionals the hardest, according to a new study. US employers announced 172,017 layoffs in February, the highest total since the height of the COVID-19 pandemic in July 2020, according to a report released by outplacement firm Challenger, Gray & Christmas on Thursday, Mar. 6. Last month's cuts were 245 percent higher than January and more than double the job losses from February 2024. February marked a dramatic spike in job losses, as businesses and federal age…

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by Chris Spiker
Business
Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico
Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico President Donald Trump is giving US automakers a brief delay on tariffs imposed against Canada and Mexico as trade war tensions escalate and concerns rise domestically about the economy. The pause was confirmed at a news briefing by White House Press Secretary Karoline Leavitt on Wednesday, Mar. 5. The move came one day after Trump officially placed 25 percent tariffs on Canadian and Mexican goods while raising tariffs on Chinese imports to 20 percent. The country's "Big Three" automakers — Stellantis (formerly Chrysler), Ford, and General Motors — talked with Trump abou…

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by Chris Spiker
Business
Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy
Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy Job growth in the private sector slowed to its weakest pace in seven months, as hiring lags amid economic uncertainty and rising trade tensions, according to new data. Private employers added just 77,000 jobs in February, the ADP said in its National Employment Report released on Wednesday, Mar. 5. That number marks the smallest job growth since July 2024 and was down sharply from January's revised total of 186,000. February's data is the latest in a wave of troubling economic indicators during the first two months of President Donald Trump's return to office. "Policy uncertainty…

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by Chris Spiker
Business
Expect To Pay More For These Items As Trump Tariffs Take Effect Expect To Pay More For These Items As Trump Tariffs Take Effect
Expect To Pay More For These Items As Trump Tariffs Take Effect US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect as of midnight Tuesday, March 4. Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 20 percent.  Mexico and Canada account for about 70 percent of US crude oil imports. Earlier Report: Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears Now, many economists are warning that American consumers will be paying more for a host of staple ite…

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by Joe Lombardi
Business
Price Hikes Likely At Best Buy, Target As Trade Wars Escalate, CEOs Say Price Hikes Likely At Best Buy, Target As Trade Wars Escalate, CEOs Say
Price Hikes Likely At Best Buy, Target As Trade Wars Escalate, CEOs Say Shoppers at Best Buy and Target should prepare for higher prices as new tariffs on imports from Mexico, Canada, and China disrupt supply chains, according to the companies' CEOs. The heads of the retail giants sent out warnings about likely price hikes for everything from fresh produce to expensive electronics. On Tuesday, Mar. 4, President Donald Trump officially enacted 25 percent tariffs on goods from Mexico and Canada, along with raising tariffs on Chinese imports to 20 percent. Best Buy CEO Corie Barry said the chain heavily relies on China and Mexico as its top two…

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by Chris Spiker
Business
Canada, Mexico, China Retaliate As Trump's Tariffs Spark Trade Wars: 'We're Ready To Fight' Canada, Mexico, China Retaliate As Trump's Tariffs Spark Trade Wars: 'We're Ready To Fight'
Canada, Mexico, China Retaliate As Trump's Tariffs Spark Trade Wars: 'We're Ready To Fight' Canada, Mexico, and China are responding to President Donald Trump officially placing tariffs on the three nations, escalating tensions with the US's key trading partners and increasing concerns about rising costs for American consumers. The US officially imposed 25 percent tariffs on Canadian and Mexican goods on Tuesday, Mar. 4. On the same day, the US also raised tariffs on Chinese imports to 20 percent. On his social media platform Truth Social, Trump claimed the solution to the trade wars is bringing more businesses into the country. "IF COMPANIES MOVE TO THE UNITED STATES, THERE ARE …

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by Chris Spiker
Politics
Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears
Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears President Donald Trump announced that tariffs on Canada and Mexico will take effect in less than a day, sending the stock market tumbling amid fears of a trade war. Trump said on Monday afternoon, March 3, that the US will impose 25 percent rates on imports from the two neighboring nations and the United States’ primary trading partners, effectively quashing any last-minute hopes for a negotiated agreement. “There’s no room left for Mexico or for Canada” to negotiate to prevent the tariffs from taking effect on Tuesday, March 4, Trump said at the White House, adding, “They’re all set.” The…

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by Joe Lombardi
Business
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Consumer confidence took its biggest dive in more than three years, adding to growing concerns over inflation, job security, and the broader economy — as Americans grapple with high prices and uncertain financial conditions. The Conference Board's Consumer Confidence Index fell 7.0 points in February to 98.3, the nonprofit business research group said on Tuesday, Feb, 25. That marks the metric's steepest monthly decline since August 2021. The Expectations Index also dropped 9.3 points to 72.9. That number gauges consumers' outlook on jobs, income, and business conditions. Fo…

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by Chris Spiker
Business
Proposed 25% US Tariff On Canadian Goods Will Be Paused After Earlier Deal With Mexico Proposed 25% US Tariff On Canadian Goods Will Be Paused After Earlier Deal With Mexico
Proposed 25% US Tariff On Canadian Goods Will Be Paused After Earlier Deal With Mexico Just hours after a similar agreement was reached with Mexico, the United States has agreed to paused planned tariffs on Canadian goods for 30 days. The deal was reached late Monday afternoon, Feb. 3 after President Donald Trump and Canadian Prime Minister Justin Trudeau concluded their second conversation of the day. "I just had a good call with President Trump," Trudeau said in a statement announcing that Canada is implementing a $1.3 billion border plan  "reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increase…

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by Joe Lombardi
Business
US, Mexico Reach Deal To Delay 25% Tariffs US, Mexico Reach Deal To Delay 25% Tariffs
US, Mexico Reach Deal To Delay 25% Tariffs Mexico and the US have reached an agreement to delay steep tariffs that were set to take effect on Tuesday, Feb. 4. Click here for a new, updated story: Proposed 25% US Tariff On Canadian Goods Will Be Paused After Earlier Deal With Mexico Mexican President Claudia Sheinbaum announced the deal Monday morning, Feb 3. It will pause the 25 percent levies for a month, and follows negotiations between Mexican officials and the Trump administration on border security and drug trafficking.  Mexico committed to deploy 10,000 troops dedicated to stopping illegal drugs and migrants from…

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by Joe Lombardi