The West closes in on Russia's last lifeline
CNN
The United States and Europe have pummeled Russia with unprecedented sanctions over the past several weeks as Vladimir Putin's army bears down on Ukraine. But the West has largely left Russia's largest export untouched: energy.
Until now.
European Union officials on Tuesday said the bloc would slash imports of Russian natural gas by two thirds this year, and the EU announced a plan to achieve energy independence from Moscow "well before 2030." That would separate Europe from its single biggest energy supplier.
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Toys made in China have been exempt from tariffs since President Donald Trump’s first term. That is no longer the case.
Americans are rarely this pessimistic about the economy.
Inflationary pressures eased at the wholesale level last month, another indication of a strong economy before the bulk of President Donald Trump’s aggressive trade policies kicked in.
President Donald Trump and his advisers said this was the plan all along: Scare the bejesus out of the world by announcing astronomically high tariffs, get countries to come to the negotiating table, and — with the exception of China — back away from the most punishing trade barriers as America works out new trade agreements around the globe.
President Donald Trump’s crackdown on immigration is spooking Latino customers and hurting beer sales, according to Constellation Brands.
Retailers are freaking out over tariffs.
Chinese leader Xi Jinping has said his nation is “not afraid,” in his first public comment on the escalating trade war with the United States, as Beijing raised tariffs on US goods to 125%.
Global markets are reeling over President Donald Trump’s haphazard approach to tariffs and an escalating trade war with China. Stocks have been volatile, and an unsettling shift has emerged in the bond market.
So, what happens now that President Donald Trump has art-of-the-dealed his way out of his own centerpiece economic initiative because it nearly broke financial markets?
Inflation slowed sharply in March, new data showed Thursday, underscoring the continued strength and resilience of the economy ahead of President Trump’s aggressive trade moves.
If paying $1,000 for a new iPhone already sounded expensive, consumers should brace for even greater sticker shock later this year. President Donald Trump’s tariffs on foreign goods – specifically those sourced from China – are expected to heighten the prices of everyday tech products, from iPhones to laptops, cars and even smaller gadgets like headphones and computer mice.
The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.