President Trump’s tariffs have generated around 20 billion dollars in revenue for the U.S. government, although it’s worth noting that a vast majority of this wealth has been derived from import duties on American businesses. In other words, Americans are paying the federal government (many critics have noted that tariffs are just taxes by another name) for […]
Here Comes the Pain From Trump’s Tariffs
As Donald Trump has given the automotive industry whiplash with his tariffs, which have, at different periods, applied to cars and car parts or haven’t applied at all. While it was hard to tell how the import tax would hit auto manufacturers, the impact is starting to look more concrete, and it ain’t pretty. As CNBC […]
The U.S. and EU Are Fighting Over Who Controls Big Tech
President Trump just slapped 30% tariffs on goods coming from the European Union, escalating a long-simmering conflict over who gets to write the rules for Big Tech. The move came just after Brussels moved forward with more regulations, this time targeting the booming field of artificial intelligence. The latest flashpoint is the EU’s new “Code […]
Mercedes-Benz Says Trump Is Holding It Back
Mercedes-Benz has long been a bellwether of elite consumption. Its luxury vehicles aren’t just status symbols. They’re economic signals, revealing how the world’s wealthy are spending. So when Mercedes releases its quarterly sales data, it’s worth paying attention. The German carmaker released its second-quarter sales figures on July 8, and they paint a picture that […]
Trump Kills Trade Talks With Canada After It Hits U.S. With Digital Services Tax
President Donald Trump announced on Friday that he is terminating all trade talks with Canada after the country decided to move forward with a digital services tax on U.S. tech companies like Meta. The president, who also mentioned high dairy tariffs, called Canada “a very difficult Country to TRADE with,” in a Truth Social post. […]
U.S. Imports Drop 19.8% in April (Yes, That’s a Record)
Imports of goods into the U.S. dropped a record 19.8% in April, according to estimates released by the U.S. Commerce Department on Friday. That drop is in sharp contrast to a 5.7% uptick of goods imported in March, widely believed to be driven by U.S. retailers and consumers buying in advance of President Donald Trump’s […]
Trump Demands Walmart ‘Eat the Tariffs’
Donald Trump is employing a new strategy to ensure that consumers don’t blame him for the increasing cost of goods: begging corporations to save him. In a post on Truth Social on Saturday morning, the President took aim at Walmart and said the corporation should stop blaming his ongoing trade war for rising prices and […]
Walmart Says Prices Will Spike in About Two Weeks as Trump’s Tariffs Hit
The U.S. is currently charging a 30% tariff on most goods coming from China, down from the 145% tariffs President Donald Trump had imposed in the aftermath of his April 2 “Liberation Day” announcement. Online retailers like Temu and Shein have already been hit with higher prices, but the question on every American consumer’s mind […]
How Hollywood is Trying to Handle Trump’s Potential Movie Tariffs
Earlier this week, the American movie industry was thrown out of whack when president Donald Trump revealed his tariffs for international film productions. Reactions to this news was met with negativity and concern from Hollywood and movie fans, even as the president himself argued this would greatly benefit the local industry. But without any real […]
Elon Musk’s Starlink Is Quietly Benefiting From Tariff Negotiations
The Trump administration’s tariff regime has squeezed most Americans, causing new financial pressures as the cost of goods goes up, but at least one person seems to be making out pretty well from the situation: Elon Musk. According to a report from the Washington Post, Musk’s satellite internet company Starlink has attracted new interest from […]