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Tariff

Business
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
Business Travel May Suffer As Trump's Tariffs, Border Policies Fuel Global Concerns: Survey Business Travel May Suffer As Trump's Tariffs, Border Policies Fuel Global Concerns: Survey
Business Travel May Suffer As Trump's Tariffs, Border Policies Fuel Global Concerns: Survey Business travel may soon decline as international companies reassess economic and logistical hurdles created by President Donald Trump's trade wars and border policies. Nearly a third (29%) of corporate travel buyers now expect their company's travel volume to drop in 2025, according to an April survey from the Global Business Travel Association. US firms are forecasting a slightly steeper average decline than international companies. Those expecting less business travel are projecting a 21% drop for their companies on average. Nearly one in five (19%) said they're uncertain about the …

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by Chris Spiker
Business
Trump Lies About $1.98 Gas: See Where That Number Likely Came From Trump Lies About $1.98 Gas: See Where That Number Likely Came From
Trump Lies About $1.98 Gas: See Where That Number Likely Came From President Donald Trump says gas is down to $1.98 a gallon, but that number doesn't exist at any pump in the country. In early May, Trump has repeatedly claimed gas has fallen below $2 a gallon. He made the claim in the White House, social media posts, and during an interview with NBC's Meet the Press on Sunday, May 4. Trump also said gas was $1.98 a gallon when speaking with ABC News on Tuesday, April 29, at the end of his first 100 days back in the Oval Office. "So now, if you look at what's happened, energy is down," Trump said. "Gasoline hit $1.98 in a few states during the last co…

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by Chris Spiker
Business
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes The US supply of new and used vehicles is quickly declining after car shoppers rushed to make purchases before President Donald Trump's sweeping tariffs shook the auto industry, setting the stage for a costly summer. New-vehicle stock fell to 2.69 million units by Tuesday, April 1, according to auto data company Cox Automotive. That was down 10.2% from the start of March and 2.4% lower than the same time in 2024. Buyers flooded showrooms in the final week of March, driven by seasonal trends and fears of price hikes tied to Trump's rapidly changing tariffs. "With import tariffs no…

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by Chris Spiker
Business
Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow
Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow President Donald Trump will place a jarring 104% tariff on Chinese goods, wiping out gains on Wall Street after three chaotic days of trading that wiped out trillions from US markets and elevated recession fears. White House Press Secretary Karoline Leavitt confirmed the dramatic tariff rise during a news conference on Tuesday, April 8. The new 104% duty will officially begin at 12:01 a.m. on Wednesday, April 9. China's tariff rate was raised to a combined 54% when Trump announced his "liberation day" tariffs on Wednesday, April 2. A 34% additional tariff was added to Trump's pre-existing 2…

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by Chris Spiker
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
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
Business
Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom
Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom Consumer confidence continued its freefall in March, tumbling to its lowest level since the early 2010s as inflation fears, President Donald Trump's rapidly changing tariff threats, and stock market pessimism weighed heavily on Americans. The Conference Board's Consumer Confidence Index fell 7.2 points in March to 92.9, the nonprofit said in a news release on Tuesday, Mar. 25. That was the lowest reading since late 2022 and well below the threshold that typically signals a looming recession. The steepest drop came in the Expectations Index, which fell 9.6 points to 65.2 — marking its l…

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by Chris Spiker
Real Estate
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home sales fell in January as prices continued soaring, showing the financial strains potential buyers are facing. Existing-home sales declined 4.9 percent from December 2024 to a seasonally adjusted annual rate of 4.08 million in January, the National Association of Realtors (NAR) said in a news release on Friday, Feb. 21. The median home price climbed 4.8 percent year-over-year to $396,900, the highest amount ever in a month of January. In the Northeast, sales fell 5.7 percent from December to an annual rate of 500,000 homes, though they increased 4.2 percent from January 2024. The m…

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by Chris Spiker