Massive fireworks supplier says tariffs forced company to eat millions in added costs – CBS News Watch CBS News With the Fourth of July comes sky-high demand for fireworks, but this year, soaring tariffs could dull the show. Elise Preston reports. Be the first to know Get browser notifications for breaking news, live events, and … Read more
A 90-day freeze on sweeping U.S. tariffs is set to expire on July 9, sowing economic uncertainty as the Trump administration works to revamp the terms of global trade. The stakes for millions of U.S. consumers and businesses are high. Economists warn that the barrage of import duties announced on April 2, which President Trump called “Liberation … Read more
Trump’s global tariff deadline looms What Trump’s looming global tariff deadline could mean for Americans 04:55 Washington — President Trump announced Wednesday that the U.S. has reached a trade deal with Vietnam, days before the July 9 deadline when the pause on his so-called reciprocal tariffs will expire. Under the terms of the agreement, Mr. … Read more
Small businesses facing higher import costs because of steeper U.S. tariffs are having to find different ways of handling the added expense. Facing hefty tariffs on parts shipped from China, one small business owner took the hit by redeeming over 1.8 million reward points on his American Express card. Robert Keeley, owner of Keeley Electronics, … Read more
Fed Chair Powell says Trump tariffs delayed interest rate cuts – CBS News Watch CBS News Federal Reserve Chair Jerome Powell said Tuesday the Trump administration’s tariffs led the Fed to put interest rate cuts on hold. CBS News MoneyWatch correspondent Kelly O’Grady reports. Be the first to know Get browser notifications for breaking news, … Read more
Fed Chair Powell says Trump tariffs delayed planned interest rate cut – CBS News Watch CBS News Federal Reserve Chair Jerome Powell said Tuesday the Trump administration’s tariffs led the Fed to put a planned interest rate cut on hold. CBS News MoneyWatch correspondent Kelly O’Grady reports. Be the first to know Get browser notifications … Read more
Fireworks, a hallmark of July 4th celebrations, are feeling the impact of President Trump’s trade war with China. More than 95% of the fireworks sold in the U.S. come from China, according to data from the U.S. Census Bureau. And while sales of pyrotechnics have grown in past years as more states and counties loosen … Read more
GE Appliances is accelerating a plan to move production of its washers and dryers from China to the U.S. in order to avoid having to pay President Trump’s tariffs, the company announced on Thursday. In a statement last week, GE Appliances President and CEO Kevin Nolan said the reshoring effort “aligns with the current economic … Read more
Canada scraps digital services tax, says trade talks with U.S. have resumed – CBS News Watch CBS News Canadian Prime Minister Mark Carney said that trade talks with the U.S. have resumed after Canada dropped its planned digital services tax. Also, President Trump said over the weekend that he doesn’t plan to extend his 90-day … Read more
Toronto — Canadian Prime Minister Mark Carney said late Sunday trade talks with U.S. have resumed after Canada rescinded its plan to tax U.S. technology firms. President Trump said Friday that he was suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called “a direct and … Read more