American companies rushed to secure foreign goods in July, ahead of planned tariff increases at the beginning of August, thereby further widening the US trade deficit. Rather than decreasing the deficit – as Trump claimed would happen – the tariff chaos and continued flip-flops have created insecurity among U.S.-based businesses, which are concerned about rising […]
Tag: Tariffs
Labor market weakens more than expected – employers weary of investment
Solidifying fears of a negative impact of the Administration’s chaotic tariff and trade policy, U.S. employers have largely stopped investing in new labor. The June jobs numbers came in well below estimates at just 73,000 new jobs created last month. Furthermore, and more concern, the revisions for May showed that hiring was much lower than […]
Foreign investment and spending in the U.S. continue to drop
In a continued downward trend, expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses decreased by $24.9 billion, or 14.2 percent. At $151.0 billion, they were below the annual average of $277.2 billion for 2014–2023. In a new release today by the U.S Department of Commerce, Bureau of Economic Analysis, expenditures by […]
American consumers pull back spending amid Trump policy chaos
With ongoing uncertainty from the Administration regarding international trade, American consumers are anxious and have reduced their spending substantially in May. Retailers experienced their second consecutive month of plummeting consumer spending. And the decline is growing. After a slight decline of just -0.1% in April – May retail sales fell off the proverbial cliff, […]
U.S. trade policy chaos expected to spur Global economic slowdown
With the world’s largest economy sputtering amid ongoing chaotic tariff and trade policy, the World Bank released its twice-annual Global Economic Prospects report on June 10. The report slashed its annual U.S. growth rate from 2.3% – which it had predicted just six months ago, to just 1.4%. If the prediction is correct, it would […]
U.S. manufacturers’ orders plunge in April under Trump Tariffs
Just last week, the White House promoted in an article, “MADE IN THE USA: President Trump’s Vision is Revitalizing American Industry,” how Trump’s policies were ‘working’ to rebuild America’s manufacturing sector. However, new economic data released today from the Commerce Department’s Census Bureau showed that new orders for U.S.-manufactured goods plunged sharply in April. The […]
Trump’s tariffs spur unprecedented stockpiling of foreign goods
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced on Tuesday that Americans went on a no-holds-barred foreign goods shopping spree like no other. The goods and services trade deficit was an astounding $140.5 billion in March, with total imports of $419.0 billion! In total, the trade deficit increased by $17.3 billion from February. […]
Price transparency for consumers – a ‘hostile and political act’ in Trump’s world
In a truly bizarre press briefing this morning, the Administration’s press secretary Karoline Leavitt stated that a reported measure by Amazon to start displaying the cost of tariffs next to the total price of products on the site was a “hostile and political act.” Really? Showing consumers the actual cost of the goods they purchase […]
A ‘bonanza’ of lies for America – Trump proposes ‘make-believe’ tax policy
In a typical short-on-details, big-on-claims Truth Social post on Sunday, President Trump touted a ‘make-believe’ tax benefit that could come from his chaotic tariff plan. Trump stated that “when Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year […]
Pre-tariff panic buying drives the auto sector as consumers look to avoid Trump’s chaos
March consumer retail spending data came in hotter than expected yesterday – led by surging motor vehicle and parts sales. Up a whopping 5.3% month-over-month, auto and auto parts sales seem to have been impacted by those consumers who wanted to get ahead of looming 25% tariffs that took effect on April 2. Consumers spent […]