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Tag: Tariffs

Small Businesses Lead Surprise Drop in U.S. Private Payrolls
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The Denver Gazette, Approved, National

Small Businesses Lead Surprise Drop in U.S. Private Payrolls

By Reuters | The Denver Gazette WASHINGTON – U.S. private payrolls unexpectedly declined in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing layoffs remaining at low levels late last month. Economists also cautioned against reading too much into the ADP employment report published on Wednesday, arguing its monthly estimate has historically diverged from the government’s private payrolls count produced by the Labor Department’s Bureau of Labor Statistics. “It is too loosely correlated with the official data to be troubling,” said Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics. “It would be unwise to lower forecasts for the official data, however, on...
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State budget director warns Colorado could face 50–50 chance of recession in 2026
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CBS Colorado, Approved, State

State budget director warns Colorado could face 50–50 chance of recession in 2026

By Shaun Boyd | CBS Colorado Mark Ferrandino, the executive director of the Governor's Office of State Planning and Budgeting, says the state has a 50-50 chance of going into a recession in 2026. Ferrandino says changes in tariffs, immigration policy and federal spending have created uncertainty for businesses and consumers. Colorado's effective tariff rate, he says, has increased from 3% in 2024 to 21%. Greg Sobetski, Colorado's chief economist, told lawmakers on the Joint Budget Committee (JBC) the full impact of higher tariffs has yet to hit.  "A lot of these impacts are being born at this point by firms because they can't pass that kind of price shock onto consumers," Sobetski said during the JBC meeting.  Sobetski says the state's economy is growing, but there are ...
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Trump Urges Supreme Court to Restore Presidential Tariff Powers
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National, Approved, Fox News

Trump Urges Supreme Court to Restore Presidential Tariff Powers

By Christina Shaw | Fox News Treasury warns striking down tariffs could force refund of $159B already collected since August The Trump administration asked the Supreme Court Wednesday to quickly make a decision on whether President Donald Trump has the authority to impose his sweeping tariffs under federal emergency law. This appeal is a result of a federal appeals court ruling 7-4 that a vast majority of Trump’s tariffs were illegal according to the 1977 International Emergency Economic Powers Act even though it allowed the duties to remain until the case was resolved. Many states and small businesses challenged Trump’s tariffs in a lawsuit saying they were causing serious economic harm. "These unlawful tariffs are inflicting serious harm on small businesses and jeopardizin...
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Polis Claims Trump Tariffs Hurt Jobs but Many See Benefits
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State, Approved, The Gazette

Polis Claims Trump Tariffs Hurt Jobs but Many See Benefits

By Marianne Goodland | The Gazette A report released Thursday by Colorado’s governor said President Donald Trump’s tariffs policy is disrupting the state’s economy and courting a recessionary scenario. State economists have, in fact, been sounding the risk of a scenario for a year — preceding both the White House’s tariffs changes and the congressional budget that Democrats blamed for Colorado’s $800 million deficit. As recently as June, analysts said the chances of a recession in the next year stood at 50% and climbing. Since Trump took office, tariffs have increased sevenfold to about 21% in Colorado, according to the report. Nationwide, it’s closer to 24%. A year ago, the tariffs averaged around 3%. The last time tariffs went that high occurred in 1910, Gov. Jar...
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Inflation relief hands Trump a talking point on tariffs and the economy
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The Western Journal, Approved, National

Inflation relief hands Trump a talking point on tariffs and the economy

By Randy DeSoto | The Western Journal President Donald Trump took a shot at Goldman Sachs’ CEO and its economists Tuesday while touting July’s inflation number, which came in cooler than expected. Goldman Sachs was among the many investment firms that predicted in April that Trump’s tariff policy would be inflationary, tank the stock market, and likely cause a recession. The Bureau of Labor Statistics reported that the consumer price index rose 2.7 percent in July compared to the same month last year and rose 0.2 percent from June. That compares to a 2.8 percent increase predicted by Wall Street, according to CNBC. Trump responded to the report, posting on Truth Social, “Trillions of Dollars are being taken in on Tariffs, which has been incredib...
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Post editorial board: Trump’s tariffs are doing what critics said they couldn’t
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New York Post, Approved, National

Post editorial board: Trump’s tariffs are doing what critics said they couldn’t

By Post Editorial Board | New York Post For all the “sky-is-falling” cries over President Donald Trump’s tariffs, it looks like his strategy may be working — just as his Aug. 1 deadline nears. In the past week, the Trump folks struck deals with Japan, Indonesia and the Philippines — and may be on the verge of a deal with Europe: On Friday, the prez cited a 50-50 chance of reaching an agreement with the European Union. These developments — on top of previous deals with Vietnam, the United Kingdom and a framework on rare-earth exports and tech restrictions with China — go a long way toward standing up Trump’s vision for the international economy, with better terms for America. And at least so far, no catastrophic fallout. Heck, the nation looks poised to benefit enormously on sev...
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U.S. gets rare earths, China gets 55% tariffs under Trump trade pact
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Approved, National, THE HILL

U.S. gets rare earths, China gets 55% tariffs under Trump trade pact

By Brett Samuels | The Hill President Trump said Wednesday his administration reached a tentative agreement on a trade truce with China following talks between the two sides in London. As part of the agreement, which Trump said was pending his approval and the approval of Chinese President Xi Jinping, China will supply “full magnets, and any necessary rare earths,” Trump said on Truth Social. Trump indicated the U.S. would impose 55 percent tariffs on Chinese goods, while China would impose a 10 percent tariff on U.S. products. “Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!),” Trump posted, describing the relationship between the two sides a...
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After Xi–Trump call, China pushes ‘consensus’ language in trade talks
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Approved, denvergazette.com, National

After Xi–Trump call, China pushes ‘consensus’ language in trade talks

By Yukun Zhang and Liz Lee | Reuters via Denver Gazette BEIJING (Reuters) -China's Vice Premier He Lifeng said China and the United States should strengthen consensus and maintain communication, state news agency Xinhua reported on Wednesday, after the two countries agreed to get a delicate trade truce back on track. U.S. and Chinese officials, including He, concluded two days of negotiations in London on Tuesday to resolve key trade issues in the two superpowers' bruising tariff war, including on a raft of export control measures that have hobbled global supply chain. The two sides should use their consultation mechanism to further "build up consensus, reduce misunderstandings and strengthen cooperation", He was quoted as saying by Xinhua, describing the talks as candid and in-de...
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Mosher: China blinked — and Trump clearly won the first round of his tariff war
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Approved, Commentary, National, New York Post

Mosher: China blinked — and Trump clearly won the first round of his tariff war

By Steven W. Mosher | New York Post, Commentary The opening round of the tariff war with China is over. And earlier this week, President Trump achieved a very clear win.  The president had Chinese leader Xi Jinping on the ropes. Trump’s 145% tariffs on Chinese goods landed a crushing blow to Beijing’s economy, already staggering under the weight of rising unemployment, unsustainable debt, and rising bankruptcies. But instead of giving China a knockout punch, Trump decided to hit the pause button. And it’s worth asking why. READ THE FULL STORY AT THE NEW YORK POST
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Walmart to raise prices due to President Trump’s Tariffs
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Approved, National, National Review

Walmart to raise prices due to President Trump’s Tariffs

By Brittany Bernstein | National Review Walmart said Thursday it plans to raise prices on some goods beginning later this month, in response to President Trump’s tariffs. “We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” Walmart CEO Doug McMillon is expected to say during a Thursday earnings call, according to prepared remarks obtained by several media outlets. The U.S. and China agreed earlier this week to lower their respective reciprocal tariffs for 90 days as they look to end a bruising trade war between the world’s two largest economies. The U.S. reduced the tariff on Chinese imports from 145 pe...
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