Category: Economy
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Brazil Approves Reciprocity Law in Response to Trump’s Trade War
On Monday (April 14), Brazil put into effect its Commercial Reciprocity Law. The legislation allows the government to adopt trade measures against countries and blocs that impose unilateral barriers to Brazilian products. The bill was approved by Congress at the beginning of the month and sanctioned last week, without vetoes, by President Luiz Inácio Lula…
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It Came Sooner Than You Imagined: “Tariff Surcharges” Are Already Being Charged to Customers
Although Donald Trump’s tariffs and retaliatory measures from other countries have not yet affected economic growth, American companies are not waiting to take action. Some are introducing “tariff surcharges,” announcing new prices on their websites and in letters to consumers. Labucq, which sells high-quality footwear made in Italy, addressed the tariffs and their impact on…
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China Raises Tariffs on the US to 125%, Escalating Trade War
China responded to President Trump’s tariffs on Friday (11), raising its own tariffs on American products to 125%. The announcement was made after Trump administration officials clarified that China now faces a minimum tariff of 145% on all exports to the United States. China mocked Trump’s tariff policies as “a joke” in an official statement…
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China Raises Tariffs on the US to 125%, Escalating Trade War
China responded to President Trump’s tariffs by raising its own on American products to 125%, escalating the trade war. The country is accelerating purchases of Brazilian soybeans to avoid dependence on the US.
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IRS to Share Data on Illegal Immigrants with Trump Administration
The IRS and the Department of Homeland Security (DHS) have reached a data-sharing agreement to support the Trump administration’s immigration enforcement agenda, according to a court document filed on Monday night (7). According to the terms of the agreement, U.S. Immigration and Customs Enforcement will send names and addresses of immigrants living in the United…
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Which States Have the Highest and Lowest Income Taxes?
The average American paid $1,613 in state income tax in 2022. Depending on the state you live in, you might be paying more, less than that, or nothing. What is state income tax? States collect state income tax from residents annually. This tax is separate from the federal income tax, which is paid to the…
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Trade War: Trump Delays Reciprocal Tariff Increase for 90 Days, Except for China
President Trump announced on Wednesday (9) that he would suspend his reciprocal tariffs for most countries for the next 90 days, backing away from his policy that provoked a drop in markets and threatened to harm global trade. But Trump stated that his suspension did not include China, announcing instead that he would increase tariffs…
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Tariffs on Chinese Products Could Rise to At Least 104%, Threatens Trump
President Donald Trump is set to impose a surprising 104% tariff on all Chinese imports on Wednesday (9), announced White House Press Secretary Karoline Leavitt on Tuesday (8). The China was already prepared to see tariffs increase by 34% on Wednesday as part of Trump’s “reciprocal” tariff package. But the president added another 50% after…
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Is the World Heading Towards a Recession?
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President Donald Trump’s tariffs have sparked a fire in global stock markets. Stocks closed lower for the third consecutive session on Monday (7), with President Trump threatening China with additional tariffs of 50%. The Dow Jones Industrial Average fell 349.26 points, or 0.91%, while the S&P 500 dropped 0.23%. The Nasdaq Composite ended the trading…
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How the Automotive Industry is Responding to the 25% Tariffs So Far
President Donald Trump’s 25% tariffs on imported cars went into effect last Thursday. The import tax has already triggered major moves by automakers, from layoffs to pauses in car shipments and price increases. As a result, industry analysts expect consumers to see higher prices, which has led some buyers to visit dealerships in an effort…