tariffs

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Report: Americans Will Soon Be Paying 55% of Tariff Costs

American businesses are preparing to raise prices, Goldman Sachs analysts say

(Newser) - US consumers will soon be footing more than half the bill for President Trump's tariffs, according to a new report from Goldman Sachs economists. Six months after tariffs took effect on everything from copper to cars, the investment bank's analysts estimate Americans will be paying about 55%...

Bristling at China's Move, Trump Announces 100% Tariff

Beijing has placed new export limits on rare earth minerals

(Newser) - President Trump on Friday announced a sweeping 100% tariff on Chinese goods, escalating a high-stakes standoff over China's new restrictions on rare earth minerals vital to global technology and manufacturing. The levy will take effect no later than Nov. 1, Trump posted on Truth Social, and will replace...

Stocks Plunge Across Board After Trump's Tariffs Threat

S&P has its worst day since April

(Newser) - A monthslong calm on Wall Street shattered Friday, with US stocks tumbling after President Trump threatened to crank tariffs much higher on China.
  • The Dow fell 878 points, or 1.9%, to 45,479.60, for a drop of 2.7% for the week.
  • The S&P 500 fell 182.
...

Trump Slams China, and the Markets Sink

President accuses Beijing of being 'very hostile' over rare-earth metals

(Newser) - President Trump took an unexpected shot at China on Friday, and the stock market immediately recoiled at the prospect of a new flare-up in relations, reports CNBC .
  • In a Truth Social post, Trump wrote that Beijing was becoming "very hostile" in regard to rare-earth materials, a reference to newly
...

UPS 'Disposing of' Packages Caught Up in Customs Rules

New regulations leave shipments stranded, customers in the dark

(Newser) - UPS customers are facing a shipping nightmare as thousands of packages bound for the United States have been caught in a tangle of new customs rules, leading to a surge in delayed deliveries—and, in many cases, destruction of goods. The logjam began after the Trump administration scrapped the...

Trump Weighs Giving Hurting Farmers Tariff Revenue

It's one option for a reported bailout in the works

(Newser) - Facing a surge in bankruptcies and plummeting crop prices, American farmers could soon see a multi-billion-dollar rescue package from the White House as President Trump moves to address the fallout from his own trade war. Trump is now considering a bailout for the agriculture industry that could reach $14...

The Supreme Court Is Back, and the Stakes Are Huge

Justices take up disputes over Trump's use of presidential power

(Newser) - It's the first Monday in October, which means the Supreme Court gets back to work. This year, the overriding question is how much leeway the court will give President Trump as he flexes presidential authority. Justices are set to issue definitive rulings on major Trump policies—ranging from...

Carney to Again Seek Tariff Relief at White House

Canadian economy is feeling the pressure

(Newser) - As trade tensions escalate and steep tariffs threaten Canadian industries, Prime Minister Mark Carney is heading back to Washington for talks with President Trump in search of relief. Carney is scheduled to meet with Trump at the White House on Tuesday to resume discussions, marking his second such trip...

Trump: 100% Tariffs on Foreign-Made Films

It's unclear how that would work, since films aren't physical products and what 'foreign-made' means

(Newser) - President Trump is reiterating his plan to put 100% tariffs on foreign films entering the US, though "it is unclear how film tariffs would work because movies aren't physical goods," reports the Wall Street Journal . Trump first raised the idea in May, complaining that the US film...

Trump Announces More Tariffs: 100% on Pharmaceuticals

Heavy trucks, furniture, cabinets also are to be hit next week

(Newser) - President Trump announced new tariffs on pharmaceuticals, certain furniture, cabinets, and heavy trucks in a social media post on Thursday, citing national security as one of the reasons. They're to take effect Oct. 1, Axios reports. Shares in some major furniture retailers quickly fell late in the day. The...

Wall Street Bets Trump's Tariffs Will Fall

Hedge funds snap up importer claims as Supreme Court showdown looms

(Newser) - Wall Street has found a new bet: tariff refunds. Investors are snapping up the rights to potential tariff payouts, gambling that the Supreme Court will strike down Trump-era import taxes and trigger government refunds totaling tens of billions of dollars, reports the Washington Post . Some hedge fund and investment...

Matcha Lovers, Prepare: It's Going to Cost You

Prices for the popular powdered tea soar due to global demand

(Newser) - The world's fondness for matcha is about to be tested by steep price increases. Global demand for the powdered tea has skyrocketed around the world, fueled by consumer interest in its health benefits and by the bright green matcha lattes bubbling up on social media. In the US, retail...

After Meeting With Xi, Trump Has News on TikTok

Trump, WH official say 'progress' has been made on deal; Trump also says he'll meet Xi next month

(Newser) - Trump talked with Chinese leader Xi Jinping by phone on Friday in a push to finalize a deal to allow TikTok to keep operating in the US. According to the Wall Street Journal , that deal was approved, with a group of investors set to take control of the company's...

US Soybean Farmers Are in a Very Bad Spot

Tariffs and ensuing boycott put Midwest family farms under pressure

(Newser) - American soybean farmers are facing a severe challenge as China, historically their largest customer, has halted purchases in retaliation for US tariffs on Chinese goods. For farmers like Josh and Jordan Gackle of North Dakota, this marks the first time in their farm's 76-year history that China isn'...

King Charles Offers Trump a First for a US President

Trump is first US leader to have 2 state visits in the UK, which is seeking trade leverage

(Newser) - King Charles III is set to show some royal hospitality to President Trump during his high-profile state visit to Windsor Castle on Wednesday. The two-day affair, featuring a horse-drawn carriage, military bands, and a formal banquet, marks the second such state visit for Trump—a distinction claimed by no...

Whiskey Rivals Join Forces to Fight Tariff

Scotch, bourbon producers say 10% tariff could cost the US lots of money and thousands of jobs

(Newser) - Whiskey rivals Scotch and bourbon are setting aside their competition as new US tariffs threaten to shake up a centuries-old partnership, reports the New York Times . Both US whiskey producers and their Scottish counterparts agree tariffs on Scotch whisky imported into the US are bad for business on both...

CBO: Economy Will Get Worse Before It Gets Better

Agency predicts grim picture on unemployment, inflation in 2025, before improvement in '26

(Newser) - President Trump's tariff policies, immigration crackdowns, and sweeping tax and spending law are expected to increase jobless rates and inflation and lower overall growth this year before they improve next year, according to a new report from the nonpartisan Congressional Budget Office. The CBO on Friday released new economic...

Health Insurance Is Set for a Steep Hike

Expiring ACA subsidies, pricey new drugs could drive premiums higher

(Newser) - Americans can expect a significant jump in health insurance premiums over the next couple of years, with costs set for the largest increase in at least half a decade. Multiple industry surveys project that businesses will see premiums rise by 9% or more in 2026—costs likely to trickle...

Trump Makes New Move to Pressure Russia on Ukraine

President is reportedly mulling 100% tariffs on China, India, but only if the EU does the same

(Newser) - President Trump is reportedly urging the European Union to act with the US in slapping China and India with tariffs as high as 100%, in a bold move meant to pressure Russia over its war in Ukraine. Trump made the demand of EU officials during a Tuesday meeting, where...

Supreme Court Grants Trump 'Lighting-Fast' Tariffs Hearing

High court will hear administration's appeal in November

(Newser) - The Supreme Court granted an unusually quick hearing on President Trump's sweeping tariffs on Tuesday, putting a policy at the center of his economic agenda squarely before the nation's highest court, the AP reports. The justices will hear the case in November, a lightning-fast timetable by the Supreme...

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