If you haven't heard by now, the U.S. government has another economic stimulus package up its sleeve. President Trump in all his strategizing has unveiled a plan to return the revenue generated by his controversial tariff program to every American, with the exception of high-income earners. This has middle-class America already budgeting those checks into their holiday spending plans perhaps a bit prematurely as though it's already money in the bank. It's been four years since the last round of stimulus payments, and the new
The mall staple was able to get ahead of tariff impacts during the first half of the year through preemptive actions, Chief Financial Officer Voin Todorovic said in a statement Thursday, but the levies caught up to the company in its most recent quarter and will continue to weigh on its performance into 2026. "We expect this elevated level of impact to continue through the fourth quarter and into the next fiscal year," Todorovic said.
I think there's been a lot done with tariffs to have a more level playing field. I wouldn't say it's level now, but for years we faced either tariffs or non-tariff trade barriers. For instance, in Europe it was 10 percent if we exported there if they exported here it was 2, 2.5. Exporting to China was 25 to 50 percent tariffs. And again, the same 2, 2.5 in this country, setting aside full-size trucks.
the retail giant argued the Trump administration has misused the federal law, the International Emergency Economic Powers Act (IEEPA), it cited to impose the tariffs. IEEPA grants the president certain power, but they may only be exercised to deal with an unusual and extraordinary threat with respect to which a national emergency has been declared for purposes of this chapter and may not be exercised for any other purposes', Costco said in the lawsuit, quoting the law.
In an interview with investor and entrepreneur Nikhil Kamath released on Sunday, Musk said he warned Trump against tariffs, arguing they "create distortions in markets." The Tesla CEO has previously expressed concern that import taxes would cause a recession and drive up the prices of goods. In April, the EV maker stopped taking orders for some models in China, which then faced a retaliatory 125% tariff.
The UK and the US have agreed a deal to keep tariffs on UK pharmaceutical shipments into America at zero. Under the agreement the UK will pay more for medicines through the NHS in return for a guarantee that US import taxes on pharmaceuticals made in the UK will remain at zero for three years. The deal comes after US President Donald Trump threatened to raise tariffs to as high as 100% on branded drug imports.
An uncertain economic environment has led some consumers to be more selective about where they spend their money. As a result, some are reaching for cheaper styles - fast-fashion retailers like Shein took market share from competing brands in 2024, according to data and analytics company GlobalData - or buying secondhand clothing. Many retailers and restaurants, such as baby apparel brand Carter's and department store chain Macy's, have been shuttering stores.
President Donald Trump might not be ruining Christmas, but he's making it more expensive. American families are expected to spend $1 trillion on gifts and other goods this November and December, roughly 4 percent more than they spent last year. But they're paying more for everything-artificial trees, ornaments, toys, novelty sweaters. They have fewer options to choose from when they log on to Etsy and browse upscale boutiques.
It's being called the EV slowdown. It is the idea that electric vehicle sales in America are expected to either cool off or completely crash, depending on who you ask, now that the $7,500 tax credit is gone. Some of that is indeed part of a natural reality check, as it turns out not all new-car buyers in the U.S. are just ready to quit gasoline cold-turkey by the end of the decade.
Black Friday and Cyber Monday are big moneymakers for brands, and companies are feeling extra pressure to squeeze the most they can out of every sale in today's economic environment. For months, brands have grappled with higher costs of goods, changes to their supply chains and low consumer confidence. Retail executives know that shoppers expect promotions for Cyber Week, but they also want to ensure their balance sheets are strong going into 2026.
The trade policy of U.S. President Donald Trump has upended the commercial relationships that countries spent decades building through layers of diplomacy. The so-called reciprocal tariffs that Trump imposed broadly on the famous April 2 of this year are still evolving. The crude chart he presented to the world on the day the president dubbed Liberation Day became obsolete within just a few months. The White House is constantly shifting its trade policy, making changes that are leaving traders stunned.
Well first of all, Maria, we're $38 trillion in debt, he replied. We've averaged $1.89 trillion deficits over the last five years. In the next 10 years, the projection's about $26 trillion from accumulated deficits. We have to address the deficit problem. We are on borrowed time here. So many people are whistling by the graveyard. If we're bringing in revenue through the tariffs, that oughta be applied to reduce the deficit, not just making a cash payment to Americans.
A statement from China's state news agency said both countries should "keep up the momentum, keep moving forward in the right direction on the basis of equality, respect and mutual benefit, lengthen the list of cooperation and shorten the list of problems, so as to make more positive progress, create new space for China-U.S. cooperation and bring more benefits to the people of both countries and the world."
Global financial markets closed today with a historic rally, as the S&P 500 recorded its largest single-day gain since 2008. The surge followed the announcement by the U.S. President of a 90-day suspension of reciprocal tariffs for countries that have not taken retaliatory measures. According to financial and geopolitical analyst John Batista Bocchino, this decision represents "a tactical relief for markets," but does not resolve the deeper structural tensions shaping global trade.
President Trump created tariff whiplash earlier this year, first imposing tariffs on almost every country, then dialing them back. Since then, Trump has struck what his administration has said are trade deals with some countries. But despite these deals, it doesn't mean there's any certainty regarding what taxes businesses will end up paying on imports. To explain, we're joined now by NPR White House correspondent Danielle Kurtzleben.
American Signature Inc (ASI), parent company of American Signature Furniture and Value City Furniture, said Sunday that it has secured $50 million in debt financing as it seeks a buyer in an auction process. Here's what to know. What is ASI and why is it bankrupt? Founded it 1948 and based in Columbus, Ohio, American Signature Inc is the parent company of two home furnishings retail chains: American Signature Furniture and Value City Furniture.
AP Photo/Mark Schiefelbein President Donald Trump insisted that the U.S. is on the cusp of a record-setting surge in tariff revenue, claiming the full benefit of his trade policy has yet to be reflected in official figures. In a lengthy post on Truth Social late Sunday, the president argued that global buyers who had rushed to STOCK UP on goods in order to avoid paying the Tariffs in the short term, but added that such stockpiling was wearing thin:
Importers of the prized leaves have watched costs climb, orders stall and margins shrink under the weight of President Donald Trump's tariffs. Now, even after Trump has given them a reprieve, tea traders say it won't immediately undo the damage. "It took a while to work its way through the system, these tariffs, and it will take a while for it to work its way out of the system."
In September, an eminently recognizable footwear company changed hands - and went private as a result. Specifically, 3G Capital announced its purchase of Sketchers on September 12, which also marked the end of Sketchers' days as a publicly traded company. With that deal's completion now in the rear view mirror, details are beginning to emerge about how existing Sketchers shareholders fared as a result, and it turns out that not everyone is thrilled.That's led some Sketchers stockholders to file a lawsuit.
Cecafé, Brazil's coffee exporters council, called the tariff hike "a complete loss of competitiveness." "The tariff reversal comes after months of intense work representing the interests of Brazilian coffee. It is a historic victory for the entire coffee agribusiness production chain," the council said in a statement. Brazil has long been a key supplier of beef and coffee to the United States.
By ELEONORE HUGHES RIO DE JANEIRO (AP) Brazilian Vice President Geraldo Alckmin said Saturday that Brazilian exported goods to the U.S. including coffee, beef and tropical fruits would still be tariffed 40%, despite President Donald Trump's decision to remove some import taxes. In a dramatic move on Friday, Trump scrapped levies announced in April on what he called Liberation Day' in hopes of encouraging domestic production and lifting the U.S. economy.
