The formula at the core of President Donald Trump’s tariff announcement that continues to rattle markets is bewildering economists, who say it is based on flawed assumptions.Economists argue that Trump’s formula relies on a flawed, underestimation of a key metric, resulting in inflated tariff rates for countries.According to the Office of the United States Trade Representative, the formula underpinning Trump’s sweeping “reciprocal” tariff plan is the country’s trade deficit with the U.S., divided by its exports, then divided by two. Trump also implemented a 10% baseline tariff on almost every country.Zoom In IconArrows pointing outwardsHowever, Trump’s formula for calculating tariff rates for…
Author: usaeverydaylife
Opponents of President Donald Trump and billionaire Elon Musk rallied across the U.S. on Saturday to protest the administration’s actions on government downsizing, the economy, human rights and other issues.More than 1,200 “Hands Off!” demonstrations were planned by more than 150 groups, including civil rights organizations, labor unions, LBGTQ+ advocates, veterans and elections activists. The protest sites included the National Mall in Washington, D.C., state capitols and other locations in all 50 states.Protesters assailed the Trump administration’s moves to fire thousands of federal workers, close Social Security Administration field offices, effectively shutter entire agencies, deport immigrants, scale back protections for transgender people and cut federal funding for health programs.Musk, a Trump adviser who…
Two chemical industry groups are asking President Trump for a complete exemption to free their factories from new limits on hazardous air pollution.Under a new rule finalized by the Biden administration last year, chemical plants would soon be required to monitor and reduce emissions of toxic pollutants, like ethylene oxide, a cancer-causing ingredient used in antifreeze and plastics.Now the two groups, the American Chemistry Council and the American Fuel & Petrochemical Manufacturers, which represent the nation’s major chemical companies, are seeking a temporary presidential waiver for all polluters to the rule.The new requirements burden their member corporations with “significantly costly…
Salvadoran police officers escort alleged members of the Venezuelan gang Tren de Aragua recently deported by the U.S. government to be imprisoned in the Terrorism Confinement Center (CECOT) prison, as part of an agreement with the Salvadoran government, in Tecoluca, El Salvador, in this handout image obtained March 16, 2025. Secretaria de Prensa de la Presidencia | Via ReutersA federal judge didn’t have the authority to order the Trump administration to broker the return of a Maryland man who was mistakenly deported from the U.S. to a notorious El Salvador prison, government attorneys argued Saturday as they urged an appeals court…
WASHINGTON — Sometime soon — Sunday maybe, perhaps Thursday — Alex Ovechkin will reach the summit.In a career jammed with consequential goals, none will be remembered more than the next one. We’ll talk about it then, and we’ll do it in the grandest of terms, because that’s how it all works.To say he’s chasing immortality, whole cloth, would be incorrect; that’s a fish he caught long ago. He is, though, still chasing something. The biggest record in his sport. The biggest name. The biggest number. Scoring one goal is hard. Scoring more of them than anyone else, ever, is something…
Crocs are cool again. But the footwear company’s comeback story is more than just a fashion statement.The iconic clog was a staple of early 2000s fashion. However, the brand’s profitability eroded in the years following the Great Recession as it struggled to expand internationally. From 2008 to 2016, there were four years where the company’s operating margin was negative, according to data from FactSet.Crocs CEO Andrew Rees took the helm of Crocs in 2017 and spearheaded its turnaround strategy. “When I joined the company, we refreshed the management team, we refreshed the strategy, and that was really all about getting to…
As President Donald Trump’s “reciprocal” tariffs announcement sent shockwaves across Wall Street, the world’s richest people lost billions of dollars in net worth almost overnight.On Wednesday, Trump announced a baseline 10% tariff for imported goods from all countries set to take effect on April 5, and “individualized” tariffs as high as 50% on a series of specific countries and regions. The announcement sparked a stock market meltdown: The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite each fell by more than 5% on Friday, following similar losses on Thursday.Collectively, the two-day drop wiped out $30.9 billion in net worth…
TAMPA, Fla. — They don’t talk about legacy at UConn. There’s no point. Why acknowledge the obvious? Because at UConn, talking about the importance of national championships isn’t pointing out the elephant in the room; the room is the elephant. It is the standard bearer, whether or not you say it out loud. And anyone who walks through those doors at UConn goes there for that exact reason.In Storrs, the minimal expectation is excellence, perfection is the goal. There is no shortage of reminders. The gym is bordered in chairs from each of the Huskies’ Final Fours (they’ll soon add…
Prime Minister Benjamin Netanyahu of Israel is set to meet with President Trump at the White House on Monday, according to a White House official, in the second such visit by the Israeli leader since the new administration began in January.Mr. Netanyahu will arrive in Washington after renewing Israel’s military campaign against Hamas in Gaza late last month, despite efforts by Mr. Trump’s aides to broker a new truce to stop the fighting there and free more hostages.A spokesman for Mr. Netanyahu did not respond to a request for comment. The Israeli prime minister has been in Hungary on a…
The stocks that investors shied away from the most this week could be poised to rebound if the market makes a comeback. Stocks have taken a severe beating, with many investors selling positions after President Donald Trump unveiled his latest tariff policies late Wednesday. All three major averages closed in the red this week, with the tech-heavy Nasdaq Composite leading the losses, falling 10%. Investors are trying to play it safe, still cautious that the sell-off could get worse. Citi Wealth chief investment officer Kate Moore told CNBC’s ” Squawk Box ” Thursday morning that ” the uncertainty factor is…
