All posts tagged "Forbes"

At a cabinet meeting Tuesday, President Donald Trump floated the idea of imposing a 200% tariff rate on pharmaceuticals, which could cause the cost of medications to skyrocket.

"We'll be announcing something very soon on pharmaceuticals," Trump said. "We're gonna give people about a year, a year-and-a-half to come in, and after that, they're gonna be tariffed if they have to bring the pharmaceuticals into the country — the drugs and other things into the country — they're going to be tariffed at a very high rate, like 200 percent. We'll give them a certain period of time to get their act together."

Forbes reported that the enormous tariff rate, "could affect some $200 billion in imports and raise prices on Americans’ medications if it takes effect."...

Millions of international travelers who are turned off by President Donald Trump's policies on everything from tariffs to immigration are choosing to spend their vacation dollars elsewhere — and it's costing the U.S. economy up to $29 billion, according to reporting in Forbes.

The report cited a study from the World Travel & Tourism Council that revealed the U.S. was the only country out of 184 studied that was expecting a decline in tourist spending in 2025.

Forbes quoted Julia Simpson, president and CEO of WTTC, saying, “While other nations are rolling out the welcome mat, the U.S. government is putting up the ‘closed’ sign."...

In his latest attack on the press, Donald Trump called out another reporter by name for writing unflattering investigative pieces on the president and his business ventures.

Trump wrote on Truth Social Monday, "Not that it really matters, but a terribly untalented writer for badly failing Forbes Magazine, Dan Alexander, who probably can’t get a meaningful job in the business, has written so inaccurately about me that it is ridiculous."

Alexander's latest article focused on the Trump Organization's "dishonesty" over the size of its properties — an issue that was central to New York Attorney General Letitia James' civil fraud lawsuit against Trump in 2024 that resulted in a $355 million judgment against him, effectively barring him from doing business in the state....

The Trump administration may continue to deny that they've been sending mixed messages on tariffs since "Liberation Day" back in April, but a timeline published by Forbes laid out in black and white the reality of President Donald Trump's erratic trade policy.

The timeline of "The 22 Times He's Changed His Mind On Tariffs" comes as Trump's latest action on steel and aluminum imports ballooned to 50% on Wednesday.

The timeline included comments from aides like Peter Navarro and Howard Lutnick claiming in televised interviews that Trump was “not going to back off” his tariffs. White House press secretary Karoline Leavitt declared "there would be no exemptions" to Trump's tariffs on foreign goods....

Amazon stocks fell by 2% Tuesday after White House Press Secretary Karoline Leavitt slammed the retail giant for a "hostile and political act" over President Donald Trump's tariffs, according to Forbes.

Two percent of Amazon's $1.97 trillion USD market capitalization comes out to a loss of $3.9 billion.

The White House was responding to a Punchbowl News report "citing an unnamed source with knowledge of the plan...to show how much of a good’s cost on the site comes from tariffs," Forbes reported. ...

New reporting by Forbes revealed that at least 10 members of Congress traded Tesla stock of up to $1.27 million after Elon Musk endorsed Donald Trump for the presidency.

The three dozen trades, which occurred after July 12, 2024, raised new concerns over congressional conflict of interest since Musk is now entrenched in the federal government.

Forbes cited data from Capitol Trades, which monitors congressional activity in the stock markets....