Here’s what will get more expensive from 25% tariffs on Mexican and Canadian goods
CNN
President Donald Trump said Monday he still intends to move forward with an across-the-board tariff of 25% on Mexican and Canadian goods, though he said those levies would come on February 1 rather than his previous day-one threat, Trump said in an Oval Office signing ceremony.
President Donald Trump said Monday he still intends to move forward with an across-the-board tariff of 25% on Mexican and Canadian goods, though he said those levies would come on February 1 rather than his previous day-one threat, Trump said in an Oval Office signing ceremony. The tariffs, if enacted, could strain Americans’ wallets, especially given Mexico and Canada are two of America’s top three trade partners. Collectively, they accounted for 30% of the value of all the goods the US imported last year, according to federal trade data. While Trump claims foreign exporters pay the tariffs, US consumers stand to foot a portion of the bill, too, as retailers are unlikely to fully absorb the added costs. Retailers have taken some preemptive steps to stave off increasing prices, including stockpiling goods and shifting production away from countries that could get hit by tariffs. But those measures may only protect consumers for so long. Additionally, many goods can’t feasibly be stockpiled or be produced elsewhere. Here’s where a 25% tariff on Mexican and Canadian goods could hit Americans hardest: The US imported $87 billion worth of motor vehicles and $64 billion worth of vehicle parts from Mexico last year, not accounting for December, the top two goods imported from there that year, according to Commerce Department data. (December trade data is not yet available.)
Allen Media Group announced sweeping cuts that will see all of local meteorologists eliminated or reassigned at its nearly two dozen television stations nationwide.
The extraordinary developments for one of America’s most popular social media apps over this weekend will be one for the history books. The banning — and unbanning — of TikTok involved actions from a former president, a sitting president and a future president and gripped 170 million Americans who use the app daily.
Terry Hodge would have a tough time caring for the 150 or so elderly women at Bethany Health Care Center without the dozens of immigrant nursing assistants, housekeepers, dietary aides and other staffers at the Framingham, Massachusetts, facility.
For many of America’s 170 million TikTok users, US President Donald Trump’s move to delay a legal ban of the popular social media platform was cause for celebration. But in China, where TikTok’s parent company is based, the reception has been less positive.
President Donald Trump is expected to outline his trade policy for his second term in an executive action Monday. But that action – described by sources as a “placeholder” – won’t institute new global tariffs that Trump has promised would raise trillions of dollars.
TikTok is now accessible again in the United States. Just how long that lasts will likely depend on incoming President Donald Trump.
The total number of Champagne shipments from France sank by almost 10% last year to 271 million bottles, marking the second consecutive year of declines.
Members of the Teamsters union have authorized a strike against Costco on February 1 unless they reach a deal with the warehouse retailer before the current contract expires on January 31.
When Keith Bussey first opened his Nothing Bundt Cakes location in Northern California in 2019, he exhausted his 401(k) savings, excited to invest in an up-and-coming franchise. And it really helped that the company had a long-standing tradition of offering its franchisees the option to close on Sundays.
Since Trump’s victory in November, the American Business Immigration Coalition has held several dozen in-person and virtual training sessions with more than a thousand employers to prep for the sweeps.
The incoming first couple have launched a pair of meme coins in the leadup to President-elect Donald Trump’s inauguration.
Move over billionaires. The first trillionaires are on their way.
Instagram has made changes in recent days that appear to be aimed at attracting TikTok users while the short-video app’s future remains in limbo.
The clock has run out on TikTok — at least for now.
Federal Reserve officials have worked hard to set interest rates at levels that minimize inflation and maximize employment over the past couple of years. And they’ve been remarkably successful, a historically rare feat to pull off.
Monday, January 20, commemorates the birthday of the Rev. Martin Luther King Jr. This year, the holiday coincides with President-elect Donald Trump’s inauguration, though the majority of business closures will be for MLK Day.
President Joe Biden will leave the White House with a strong economy, historic gains in the job market, a foundation for future manufacturing growth, and having brought down decades-high inflation without triggering a recession.
Europe’s generous welfare states are coming under increasing strain as weak economic growth collides with rising demands on government budgets, particularly from aging populations.