All posts tagged "Trump Tariffs"

MAGA followers were furious Friday after the Supreme Court delivered a significant blow to President Donald Trump, ruling that he exceeded his constitutional authority by imposing broad tariffs under emergency powers legislation.

The high court's decision struck down Trump's tariffs in a 6-3 vote.

On social media like X, MAGA loyalists voiced their anger over the ruling. ...

Bloomberg reports that some stores will struggle to keep shelves stocked with children’s gifts thanks to the lingering damage of President Donald Trump’s tariffs.

“Parents getting around to do toy shopping this Black Friday week should expect a far thinner selection of toys than last year,” said Jason Miller, a professor of supply chain management at Michigan State University.

“After a strong start to the year, metric tons of containerized toy imports have been down double digits each month since May, with some months seeing imports drop more than 30 percent from 2024 levels,” Miller told Bloomberg....

Republicans insist that the "Big, Beautiful Bill," plus President Donald Trump's tariff and immigration policies, could energize the U.S. economy. But a nonpartisan scorekeeper reports Friday that this claim is not true, calling it a "drag on growth" ahead of the 2028 elections.

A new report from the Congressional Budget Office predicts that "over the next three years, policies implemented this year by Trump and the Republican-led Congress will have little effect on growth before the 2028 election," Politico reports.

"In 2027 and 2028, the effects of reduced net immigration on the labor force and the waning of the reconciliation act’s near-term boost to demand act as a drag on growth," according to the report. "Partially offsetting those effects, an increase in domestic production, driven by higher tariffs, provides a boost to economic growth. As a result, real GDP growth in those years is roughly the same as it was in CBO’s January 2025 projections."...

Farmers are reporting record yields for crops this fall but it's unclear who will buy them.

The ongoing trade war between China and the U.S. is testing farmers' faith in the Trump administration, Politico reports.

“When our members are in the fields harvesting, they will be staring at a visual representation of this economy and this looming farm crisis. They will be looking at literal piles of corn and other row crops,” said Lesly Weber McNitt, vice president of public policy at the National Corn Growers Association, in an interview with Politico. “They don’t know where it’s going.”...

President Donald Trump's promise to bring back U.S. manufacturing jobs has backfired as tariff-exposed industries are losing jobs, CNN reports.

The "American manufacturing renaissance" Trump pledged has had the opposite result following the president's trade war, impacting manufacturing, construction, and transportation industries, according to new analysis by Apollo Global chief economist Torsten Slok.

Slock reviewed a three-month moving average of employment data from the Bureau of Labor Statistics and found that these tariff-impacted sectors had job loss in recent years; however, this is the first time that payroll growth has been negative over a period of the last several months. ...

Crashing lumber prices are sending a "troubling" warning sign for the U.S. economy following uncertainty over President Donald Trump's tariffs and a "deteriorating housing market," the Wall Street Journal reported Monday.

"Crashing wood prices are troubling because they have been a reliable leading indicator on the direction of the housing market as well as broader economic activity," according to the Journal.

Two U.S. sawyers last week said they will decelerate production and "curtail output, slowing the decline."
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