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Tariffs

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Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect after President Trump signed an order late Saturday afternoon, Feb. 1. Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 10 percent. Canada also has an adjusted 10 percent rate for energy products, include crude oil. Mexico and Canada account for about 70 percent of US crude oil imports. Now, many economists are warning that American consumers will be paying more for a host of staple i…

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by Joe Lombardi
Business
Trump To Hit Canada, Mexico, China With Tariffs: Here's When, How Much Trump To Hit Canada, Mexico, China With Tariffs: Here's When, How Much
Trump To Hit Canada, Mexico, China With Tariffs: Here's When, How Much Donald Trump's months-long threats of implementing tariffs on other countries are apparently hours away from becoming a reality. Click here for a new, updated story - Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say White House Press Secretary Karoline Leavitt announced at a news conference Friday afternoon, Jan. 31 that both of America's neighbors, Canada and Mexico, will be slapped with 25 percent tariffs on goods. A third nation, China, America's main economic rival, will be hit with 10 percent tariffs. They take effect on Saturday, Feb. 1, and are "for …

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by Joe Lombardi
News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
Politics
Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees
Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees President Donald Trump is calling for the elimination of federal income tax, advocating for a shift to a tariff-based revenue system.  He argues that this approach, which he says previously made the US “richer” and a more “powerful” economy, would mark a pivotal turning point for the nation. "America is going to be very rich again, and it's going to happen very quickly," Trump said during a speech in Florida on Monday, Jan. 27 at the 2025 Republican Issues Conference at the Trump National Doral Miami. "Instead of taxing our citizens to enrich foreign nations, we should be tariffing an…

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by Joe Lombardi
Business
Arabica Coffee Prices Spike Amid Colombia-US Tariff Dustup Arabica Coffee Prices Spike Amid Colombia-US Tariff Dustup
Arabica Coffee Prices Spike Amid Colombia-US Tariff Dustup Prices of Arabica coffee hit record highs in the aftermath of threats of tariffs by both the United States and Colombia after a dispute involving migrant deportation flights. Arabica futures hit a record of $3.56 in the Intercontinental Exchange on Monday, Jan. 27, a day after the back-and-forth dustup a day earlier, according to The Wall Street Journal. The previous record of $3.48 was recorded in early December. The US imports about 30 percent of its coffee from Colombia. Colombia agreed to accept the flights after earlier turning back two planes. This prompted President Donald Trump to…

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by Joe Lombardi
Politics
Colombia Agrees To Accept Migrant Deportation Flights After Trump Threatens 25% Tariffs Colombia Agrees To Accept Migrant Deportation Flights After Trump Threatens 25% Tariffs
Colombia Agrees To Accept Migrant Deportation Flights After Trump Threatens 25% Tariffs Colombia, one of the United States' key allies in Latin America, has agreed to accept migrant deportation flights after earlier turning back two planes, prompting President Donald Trump to threaten steep sanctions. Trump said Sunday afternoon, Jan. 26 that he would impose "emergency" 25-percent tariffs on Colombian goods after it blocked the flights. But negotiations between the countries led to an agreement late Sunday night and Trump withdrew the tariff threats. “The Government of Colombia has agreed to all of President Trump’s terms, including the unrestricted acceptance of all undocume…

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by Joe Lombardi
Politics
Trump Threatens 25% Tariffs After Colombia Turns Back Flights Carrying Migrants From US Trump Threatens 25% Tariffs After Colombia Turns Back Flights Carrying Migrants From US
Trump Threatens 25% Tariffs After Colombia Turns Back Flights Carrying Migrants From US President Donald Trump says he will impose 25 percent "emergency" tariffs on Colombian goods after the key South American ally refused to allow two two flights from the US carrying migrants to land. Click here for a new, updated story - Colombia Agrees To Accept Migrant Deportation Flights After Trump Threatens 25% Tariffs "The US cannot treat Colombian migrants as criminals," Colombia President Gustavo Petro said in a statement on Sunday, Jan. 26. "I deny the entry of American planes with Colombian migrants into our territory. "The US must establish a protocol for the dignifie…

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by Joe Lombardi
Politics
Trump Proclaims ‘Liberation Day,’ Reveals Array Of Planned Actions In Inaugural Address Trump Proclaims ‘Liberation Day,’ Reveals Array Of Planned Actions In Inaugural Address
Trump Proclaims ‘Liberation Day,’ Reveals Array Of Planned Actions In Inaugural Address Donald Trump proclaimed “liberation day” in his inaugural address after being sworn in to a second non-consecutive presidential term in the Capitol Rotunda just after noontime on Monday, Jan. 20. Click here for a new, updated story - Trump Ends All Jan. 6 Cases With Pardons, Commutations, Dismissals, Signs Flurry Of Executive Orders  "America will soon be greater, stronger, and far more exceptional than ever before," said Trump, who at age 78, became the oldest person to ever start a presidential term. In the half-hour long speech, he vowed that “the golden age of America begins rig…

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by Joe Lombardi
Politics
Justin Trudeau Will Resign As Canadian Prime Minister Justin Trudeau Will Resign As Canadian Prime Minister
Justin Trudeau Will Resign As Canadian Prime Minister Justin Trudeau has announced his resignation as head of Canada’s Liberal Party, paving the way for a new prime minister after nearly a decade in office.  Trudeau, who has led the party since 2013, stated, “Despite my best efforts to work through it, Parliament has been paralyzed.”  He made this announcement late Monday morning, Jan. 6, in Ottawa, and will remain in his roles until a replacement is elected during an emergency meeting scheduled for Wednesday, Jan. 8. Pressure had been building within the party for months as it began losing popularity in polls. Tensions escalated wh…

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by Joe Lombardi
Politics
Trump Taps Billionaire Financier, Long Island Native For Commerce Secretary Trump Taps Billionaire Financier, Long Island Native For Commerce Secretary
Trump Taps Billionaire Financier, Long Island Native For Commerce Secretary President-elect Donald Trump has picked another New Yorker for a top Cabinet post. Howard Lutnick, a Long Island native from Jericho and the chairman and CEO of Cantor Fitzgerald, is his pick for commerce secretary. “He will lead our tariff and trade agenda, with additional direct responsibility for the Office of the United States Trade Representative,” Trump announced on Truth Social on Tuesday, Nov. 19. Earlier Report: Trump Selects Vaccine-Skeptic Robert F. Kennedy Jr. As Secretary Of Health, Human Services Lutnick, a co-chair of the president-elect’s transition team, has spent …

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by Michael Mashburn