The European Union and Canada are not happy with a recent move by the United States. The U. S. has decided to double the tariffs on steel imports from 25% to 50%. This decision is causing a lot of uncertainty in the global economy. It also means higher costs for both consumers and businesses on both sides of the Atlantic. The U. S. made this announcement at a rally ...
The mood among U. S. shoppers has taken a hit. A recent survey showed that people are getting more anxious about prices going up. This is mainly because of new taxes on imported goods, known as tariffs. The survey, done by a well-known university, found that the feeling of confidence among consumers has dropped to one of the lowest points ever recorded. T...
The U. S. Department of Commerce has decided to undo a recent rule that was set to limit the export of AI chips to various international markets. This move came after pushback from the tech industry and several countries. The rule, which was supposed to start on a Thursday, aimed to control the number of AI chips that could be sent abroad without federal permission. ...
In April, the U. S. saw a slight dip in inflation rates. This is a brief calm before the storm. Why? Because trade tensions are about to heat up. The government and the Federal Reserve have been working hard to keep inflation at a steady 2 percent since the pandemic. They finally saw some relief in April. But don't get too comfortable. Experts predict that prices wil...
The United States is set to close a significant trade loophole, which will have a direct impact on the pricing strategies of popular Chinese online retailers like Shein and Temu. This loophole, known as the "de minimis" exemption, has allowed these companies to ship low-value items to the US without paying duties or import taxes. The exemption has been a game-changer...
A significant change is coming to how Americans buy goods from China and Hong Kong. A special rule, known as the de minimis exemption, is being phased out. This rule allowed items worth up to $800 to enter the U. S. without tariffs or customs forms. This exemption was a big deal for shoppers and retailers alike. It made buying cheap goods from overseas super easy. Ho...
The White House had a strong reaction to Amazon's idea of showing tariff costs on some of its products. This sparked a heated exchange between the president and the company's founder. The idea was to display the added cost of tariffs next to the prices of certain items on Amazon's website. This move could have shown consumers how much Trump's tariffs were affecting t...
The current administration has decided to soften the blow of auto tariffs. This change is set to happen on a Tuesday. The focus is on easing duties on foreign parts used in cars made in the U. S. Additionally, there will be a move to prevent tariffs on imported cars from piling up with other taxes. The shift is part of a broader strategy. It aims to foster a stronge...
California is gearing up to challenge Trump’s tariffs in a significant legal battle. The state’s governor and attorney general are teaming up to file a lawsuit that could limit the president’s power to impose tariffs. This move comes after Trump recently slapped steep tariffs on major trading partners, which he later scaled back but kept in place at a lower rate. Th...
The world of international trade is in for a major shake-up. The United States has significantly increased its tariffs, which are taxes on imported goods. This move has sent ripples through the global market, redirecting billions of dollars in exports that were originally headed for the U. S. Now, these goods are flooding into other countries, including Canada. This ...