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Earleen Vizcaino
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Trump Surprised in Qatar!
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*** How Trump's tariffs are squeezing small businesses... *** Trump likes rich people and big businesses and somehow forgets that there are other, yet no less important, groups that contribute significantly to the American economy. Many runs the type of business President Trump doesn't seem to think much about when he raises or lowers tariffs. Yet it's small business owners like who face unwelcome turmoil as Trump wages his trade war. The sales are down from the time Trump took office. In a regular year, you buy what you need and you invest. But now we only have time to focus on inventory, to keep ourselves afloat. There's no time to think about growth. It's just survival. Trump has thrown thousands of American businesses off-balance with tariffs on some $3 trillion worth of imported goods that he has imposed and rescinded with almost no notice. There's a new 10% tariff on most imports, rising to 25% for steel, aluminum, and automobiles. Starting in March, Trump's import tax on Chinese goods was 145% until he lowered it to 30% on May 12. Trump says he wants to raise the cost of imports to encourage more domestic manufacturing. ** But in many cases, that's implausible, and the inevitable result of tariffs is simply higher prices and less consumer choice. ** ..... Source: Yahoo Finance #TrumpsTariffs #trumptariff
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** House Speaker Mike Johnson supports a stock trading ban for US lawmakers ** Some lawmakers again push efforts to ban the controversial practice of congressional stock trading, with other lawmakers again under scrutiny for trading during recent market volatility. Johnson had previously avoided taking a position on the issue, with his new comments coming as varied efforts to enact a ban gain bipartisan support. ..... Source: Yahoo Finance
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** Consumer sentiment hits second lowest reading on record ** US consumer sentiment tumbledĀ furtherĀ in May as the impacts of PresidentĀ Trump's tariff policiesĀ remained top of mind for Americans. Pessimism over the inflation outlook soared again, as one-year inflation expectations jumped to 7.3% ā the highest since 1981 ā from 6.5% the month prior. Just four months ago, consumers had expected inflation of 3.3% over the next year. ...... Source: Yahoo Finance
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** Forecast of higher consumer prices ** In more corporate fallout, Walmart on Thursday warned that rising costs from tariffs soon lead to higher prices for shoppers. The company was the latest to skip giving second-quarterĀ profit guidanceĀ due to Trump's tariffs disrupting global trade. This report could also be a key indicator for other retailers' results. Target, Home Depot, and Lowe's are all set to report next week. "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 said in the release. He added on the earnings call that tariffs have already led to price increases in April and May. .... Source: Yahoo Finance
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