The 100% tariff on branded pharmaceuticals that will go into effect on Oct. 1 sounds dramatic. Especially at a time when middle-class complaints about drug prices are a salient political issue and Trump is promising to bring them down. But the new tariff contains a big carveout for any firm with US manufacturing facilities and … Read More
The United States is widening the reach of its trade blacklist, making it harder for subsidiaries and affiliates of certain companies to access American products — a move set to hit Chinese businesses, among others. The Department of Commerce’s notice said the latest shift aims to “address diversion concerns,” such as the formation of new … Read More
Halloween is a month away, yet retailers have had their merchandise out since late August with the hopes that consumers buy early. The National Retail Federation (NRF) found 49% of consumers started their shopping earlier than normal. When all the receipts are tabulated, the trade group predicts consumers will spend $13.1 billion this year on … Read More
Ford just reported its best month ever for electric vehicle sales. In August, the automaker sold 10,671 EVs across its lineup, a 19% increase over the same month last year. Most of that growth came from the Mustang Mach-E, which sold 7,226 units — up more than 35% year-over-year and the highest monthly total since … Read More
Manufacturing and its role in the United States is top of mind for companies as they look to strengthen their supply chains and operations while navigating the Trump administration’s business and trade policies, key among them tariffs. Companies have poured billions of dollars into fortifying their U.S. footprint or securing deals with partners that have … Read More
Days ahead of a meeting between its leader, President Recep Tayyip Erdogan, and President Donald Trump, Turkey has removed tariffs on some American-made automobiles, agricultural products, chemicals, fuels and alcoholic beverages. The tariffs in question were put in place in 2018, during Trump’s first term in office, as retaliation for duties levied on Turkey. Now, … Read More
U.S. business activity slowed for a second straight month in September, and though firms complained about tariffs increasing costs they were not raising prices for their goods and services, which bodes well for the inflation outlook. The survey from S&P Global on Tuesday suggested that businesses were absorbing most of the import duties and supported … Read More
US stocks are trading at record levels with earnings season right around the corner, and improving expectations for Corporate America’s profit growth indicate that the rally can keep going. Among the companies in the S&P 500 Index that provided guidance for their third-quarter results, more than 22% were expecting to beat analysts’ expectations — the … Read More
Apple CEO Tim Cook said price hikes on the newest iPhone models aren’t tied to President Donald Trump’s sweeping tariff plans. “There’s no increase for tariffs in the prices to be totally clear,” Cook told CNBC’s Jim Cramer from Apple’s Fifth Avenue store location in New York City, as the latest iPhone model launched in … Read More
For the second time in less than two months, the CEO of a publicly traded company admitted that tariff cost burdens will not be passed down fully, if at all, to consumers. With one CEO saying tariffs were too low. Ethan Allen CEO Farooq Kathwari told Bloomberg on Sept. 8 that domestic production protects them … Read More
