President Trump's stricter immigration policies are impacting the U.S. labor force. Over 1.2 million immigrants left the workforce since January, affecting various sectors like farming, construction, and healthcare. Immigrants comprise a significant portion of these industries, with 45% of agricultural workers being immigrants. This labor shortage is causing...
The US ended a tariff exemption for low-value imports, impacting shipments from many countries. This exemption, allowing goods under $800 to enter tax-free, was deemed a 'catastrophic loophole' by the White House, used to evade tariffs and import illegal goods. While a six-month transition period with a flat...
The EU proposed removing tariffs on American industrial goods, including cars, retroactively from August 1st. This fulfills a key part of a US-EU trade agreement. The move aims to stabilize trade relations and benefit businesses and citizens on both sides of the Atlantic. The proposal, which includes preferential access...
A new study reveals that the richest 400 Americans, led by Elon Musk, paid an average effective tax rate of 24% from 2018-2020, lower than the 30% rate for other taxpayers. This is partly due to lower taxes on capital gains and business income. Economists Emmanuel Saez and...
The US is ending a tariff exemption on imports under $800, meaning shoppers will face import taxes of 10-50% or a flat fee of $80-$200. Consumers will likely see increased prices on goods from international sellers like Shein and Temu. To avoid surprises, check the product origin, whether...
President Trump highlights a government report claiming his tariffs will reduce the federal debt by $4 trillion over ten years. This is higher than previous estimates. However, the actual revenue depends on factors like tariff longevity and economic impact; the report didn't account for potential negative economic consequences....
The end of the US de minimis exemption for imported goods valued at $800 or less will significantly impact consumers. President Trump's executive order eliminates this tariff exemption, leading to price increases on many products, particularly from China. Many international postal services, including DHL, are temporarily suspending or...
US inflation, peaking at 9.1% in June 2022, prompted the Federal Reserve to prioritize controlling price increases through high interest rates. Initially, this seemed to achieve a 'soft landing,' avoiding recession. However, factors like tariffs and geopolitical shifts have cooled the labor market. Fed Chair Jerome Powell now...
US inflation, as measured by the personal consumption expenditures price index (excluding food and energy), is expected to have risen. A report predicts a 2.9% year-over-year increase in July, the fastest pace in five months, and a 0.3% monthly rise. This presents a challenge for the Federal Reserve, who...
Russia's Central Bank is implementing new ATM withdrawal limits starting September 1st, 2025. This follows months of widespread disruptions to mobile services and internet access, impacting ATMs and online banking. These disruptions are linked to counter-drone measures amid successful Ukrainian military operations. High cash circulation and a...
