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Global Trade
National Interest
'Focus On Being A DJ,' Trump Tells Goldman Sachs CEO From Hartsdale After Tariff Warning
President Donald Trump is taking aim at Goldman Sachs CEO David Solomon and telling him to focus on his side gig after economists at the Wall Street giant's bank warned that American consumers may soon bear the brunt of the president's tariffs. In a Truth Social post on Tuesday, Aug. 12, Trump defended his trade policy, claiming that “trillions of dollars are being taken in on tariffs” and that the measures have been “incredible for our country, its stock market, its general wealth, and just about everything else.” The post came days after Goldman Sachs' chief economist Jan Hatzi…
Camden, NJ
On Your Side
Americans Eating At Home Most Since 2020 Amid Trump Trade Wars, Camden-Based Campbell's Says
Americans are cooking and eating at home in the largest numbers since the start of the COVID-19 pandemic amid President Donald Trump's sweeping tariffs, according to the head of a major food company. Campbell's president and CEO Mick Beekhuizen made the comments in a news release announcing the company's quarterly earnings on Monday, June 2. The company with a huge brand portfolio, including Pepperidge Farms, Rao's, and Cape Cod Potato Chips, reported a 4% increase in net sales. Beekhuizen's comments come as economic pressure mounts for many Americans due to Trump's global trade wars. "Con…
New Rochelle, NY
On Your Side
Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers
A private equity firm will purchase Skechers as President Donald Trump's sweeping tariffs create growing uncertainty for US footwear companies. 3G Capital will buy Skechers for what could be worth up to $11 billion, the shoemaker announced in a news release on Monday, May 5. Once finalized, the deal will make Skechers private and it'll be delisted from the New York Stock Exchange. Skechers, which is the third-largest footwear brand globally behind Nike and Adidas, will continue to be led by CEO Robert Greenberg and president Michael Greenberg. The company's headquarters will remai…
Arlington, VA
On Your Side
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…
Manhasset, NY
On Your Side
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…
Pound Ridge, NY
On Your Side
Here's Why Coffee Prices Are Surging To Multi-Year High
Coffee prices have reached a multi-year high due to a number of factors, including a crop-destroying frost in Brazil. Fortune reported in July that the coffees trees in Brazil were impacted by a drought and two frosts, leading to the high prices. The country is the world's largest coffee producer, accounting for 40 percent of the world's output of the product, the news site reported. Prices for high-end beans used by some coffee chains increased more than 30% during this period, Fortune reported. COVID-19 restrictions in Vietnam, the world's second-largest coffee exporter, have also cause…
New Rochelle, NY
Breaking News
Chocolate Price Hike Could Be Coming: 'Cocoa Cartel' Nations Agree On Increase
The “cocoa cartel” may be coming to cause the cost of chocolate to spike nationwide, according to reports. A new report from the Wall Street Journal found that two countries that control 60 percent of the worldwide cocoa supply - dubbed the “cocoa cartel” - may soon drive up the cost of chocolate products around the globe. The report states that the Ivory Coast and Ghana are teaming to charge hundreds of dollars more per metric ton of cocoa, which will be put in place later this year. The “cocoa cartel” is expected to charge approximately $400 extra per metric ton, a 16 percent increase. I…
