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Tariffs

All articles tagged with #tariffs

Tariff Refund Clash Escalates as Courts Eye Payouts
business3 hours ago

Tariff Refund Clash Escalates as Courts Eye Payouts

Following the Supreme Court's ruling invalidating much of Trump's tariffs, companies including FedEx, Dyson and L’Oréal have filed lawsuits seeking refunds under the International Emergency Economic Powers Act, with more than $100 billion at stake. The government had previously pledged refunds if Trump lost but now signals a lengthy fight; Treasury Secretary Scott Bessent said refunds could not start for about a month, while roughly 900 claims have been filed in federal court. The outcome could reshape tariff revenues and their effect on U.S. consumers and the economy as courts navigate how and when refunds are issued.

via The New York Times|
#business#ieepa#litigation
Trump's SOTU Sparks Mixed Reactions on Tariffs and a New Retirement Plan
business7 hours ago

Trump's SOTU Sparks Mixed Reactions on Tariffs and a New Retirement Plan

Economists and business leaders offered a mixed read on Donald Trump's State of the Union address: while Bill Ackman praised his federally matched retirement plan as a potential bipartisan wealth-builder, critics like Paul Krugman accused the speech of distortions and warned tariff policies could worsen affordability. Ian Bremmer noted a polarized national mood, Peter Schiff cautioned inflation hasn’t truly improved under Trump, and Roger Altman argued the address was more show than a catalyst for growth, even as observers forecast modest growth and cooling inflation with tariffs possibly sticking around and AI energy costs looming.

via Business Insider|
#bill-ackman#business#inflation
Beijing and Berlin vow deeper economic ties amid turbulence
world11 hours ago

Beijing and Berlin vow deeper economic ties amid turbulence

China and Germany pledged to deepen economic ties and strengthen strategic dialogue despite disagreements over Russia’s war in Ukraine, with Xi urging mutual trust and Merz calling for a balanced, fair partnership. Berlin urged Beijing to use its influence on Moscow, while noting a rising German trade deficit with China and pushing for steps to reduce overcapacity, ease barriers for foreign companies, and expand European manufacturing links (including Airbus orders).

via AP News|
#china#germany#tariffs
politics11 hours ago

Trump’s marathon State of the Union frames tariffs, immigration and a midterm playbook

President Trump delivers a lengthy State of the Union focused on the economy, tariffs and immigration enforcement, interlaced with personal guest stories and praise for allies, while Virginia Gov. Abigail Spanberger delivers the Democratic response emphasizing affordability and cost‑of‑living concerns. The night features dramatic anecdotes, protests on the National Mall, a designated survivor, and policy chatter on stock trading bans and AI energy costs, highlighting sharp partisan divides ahead of the 2026 midterms.

via Politico|
#immigration#politics#spanberger
Tech Rally Lifts SPY and QQQ Ahead of Trump's State of the Union
market-news14 hours ago

Tech Rally Lifts SPY and QQQ Ahead of Trump's State of the Union

Tech stocks led a rebound for the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) on Tuesday, with AMD, INTC, CRM and QCOM up 3%+ and Amazon and Tesla also higher; Trump announced a global tariff of 10% that could rise to 15% later, keeping tariffs in focus; The Conference Board’s February consumer confidence rose to 91.2, while Fed official Austan Goolsbee urged keeping rates unchanged until inflation is at 2%; the State of the Union is tonight at 9 p.m. ET; the S&P 500 gained 0.77% and the Nasdaq 100 gained 1.09%.

via TipRanks|
#market-news#qqq#spy
Trump’s ‘greatest economy’ claim meets the data
economy22 hours ago

Trump’s ‘greatest economy’ claim meets the data

BEA data show 2025 real GDP rose 2.2% (Q4 at 1.4% annualized), a slowdown from 2024, with the Oct–Nov 2025 shutdown subtracting about 1 percentage point from Q4 growth. Job growth was weak in 2025 (~15,000 payrolls per month), though January 2026 added 130,000, and unemployment stood at 4.3%; federal employment fell 327,000 since Oct 2024. A Supreme Court ruling curtailed Trump’s tariffs, which now face exemptions and hinge on a new 10–15% rate; the average tariff is about 9.1%. Public opinion remains skeptical (about 39% approve the economy vs 59% disapprove), suggesting the data undercut the president’s boast about the economy.

via Euronews.com|
#bea#economy#gdp
Tariffs to replace income tax would cost far more than they save
economy22 hours ago

Tariffs to replace income tax would cost far more than they save

Trump floated using tariffs to replace the income tax, but tariffs have never generated near enough revenue to substitute for tax income (roughly $195B in customs duties vs about $2.6T in income tax). Higher tariffs would shrink imports and push buyers to domestic substitutes, limiting revenue gains. Complicating the plan: IEEPA tariffs were overturned by the Supreme Court, and officials describe tariff revenue as a melting ice cube, making full replacement of income tax unlikely and potentially costly for consumers and the broader economy.

via Axios|
#economy#income-tax#revenue
Trump’s 2026 SOTU: Economy, Borders and Iran Take Center Stage
politics1 day ago

Trump’s 2026 SOTU: Economy, Borders and Iran Take Center Stage

Live updates frame President Trump’s 2026 State of the Union as a test-bed for a Republican midterm message, focusing on an alleged economy boost from tax cuts, a hard line on immigration and threats or actions toward Iran, while Democrats push to reopen DHS funding and address affordability. The speech also revisits tariffs (recent court ruling against them) and features a mix of claimed successes and contentious points that fact-checkers flag, with Spanberger delivering the Democratic rebuttal from Colonial Williamsburg and Padilla offering a Spanish-language response. Guests include Olympic hockey figures and Epstein survivors, all against a backdrop of polling that shows many Americans remain uneasy about the economy.

via PBS|
#donald-trump#immigration#iran
Trump arrives at Capitol as Democrats mount boycott during tense State of the Union
politics1 day ago

Trump arrives at Capitol as Democrats mount boycott during tense State of the Union

Live coverage shows Donald Trump arriving at the Capitol to address a joint session as Democrats organize a counter‑protest; Supreme Court justices and cabinet members attend, with pre-speech focus on tariffs, potential protections against AI datacenter electricity costs, and immigration policy amid a DHS shutdown and ongoing ICE/CBP debates.

via The Guardian|
#democratsboycott#politics#stateoftheunion
Global tariffs go live at 10% as rate uncertainty lingers
business1 day ago

Global tariffs go live at 10% as rate uncertainty lingers

US global tariffs have taken effect at 10% after mixed messaging from President Trump, with officials saying a 15% increase could come but no directive has been issued yet; the White House is working to update the rate, while a Supreme Court ruling on IEEPA tariffs fuels uncertainty and potential refunds, as international partners respond and some businesses seek refunds or adjust plans.

via BBC|
#business#global-trade#ieepa
Tech Rally Lifts Wall Street Amid AI Fears and Tariff Talk
business1 day ago

Tech Rally Lifts Wall Street Amid AI Fears and Tariff Talk

U.S. stock indexes bounced on Tuesday as tech led a rebound after Anthropic announced new AI tools and investors weighed Trump’s tariff stance; the Dow rose 0.69%, the S&P 500 0.57%, and the Nasdaq 0.87%. AMD jumped 7.6% on a deal to sell up to $60 billion in AI chips to Meta, while Home Depot and Keysight posted solid gains on upbeat results and outlooks, highlighting ongoing AI optimism and tariff jitters ahead of the State of the Union and Fed remarks.

via Reuters|
#ai#business#earnings
Tariffs cost consumers, refunds unlikely despite lawsuits
business1 day ago

Tariffs cost consumers, refunds unlikely despite lawsuits

Costco and other importers are suing to speed tariff refunds, but even if funds are returned, they would mostly go to the importer of record rather than consumers who paid higher prices; the Supreme Court ruling that tariffs were illegal has left refunds unclear and potentially years away. Economists estimate consumers bore about a quarter of tariff costs via higher prices (roughly $1,000 per American household), and Democrats are pressing for consumer refunds while the Trump administration has floated rebates; several companies including Costco and FedEx have filed suits, but in practice consumer refunds remain unlikely.

via CNN|
#business#consumers#costco