Author: usaeverydaylife

Ryosei Akazawa, Japan’s economic revitalization minster, speaks to members of the media at the Japanese embassy in Washington, DC, US, on Friday, May 30, 2025.Bloomberg | Bloomberg | Getty ImagesJapan had made some progress in a fifth round of trade talks with U.S. officials aimed at ending tariffs that are hurting Japan’s economy, Tokyo’s chief tariff negotiator said.”Tariffs have already been imposed on autos, auto parts, steel and aluminum, and some of them have doubled to 50% along with 10% general tariff. These are causing daily losses to Japan’s economy,” Ryosei Akazawa, said in Washington on Friday after talks with officials,…

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An exterior view of the Michael’s Arts & Crafts store at the Paxton Towne Centre near Harrisburg.Paul Weaver | Lightrocket | Getty ImagesCraft labels from the now-shuttered fabrics seller Joann are making their way to a new home: Michaels.The Michaels Companies announced on Thursday that it had completed its purchase of Joann’s intellectual property and private label brands — in an acquisition that arrives as the Texas-based arts and crafting chain works to expand its own fabric, sewing and yarn offerings.”We’re honored to have the opportunity to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration…

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Various whiskey bottles on shelves in a bar.Hiob | Istock | Getty ImagesGlobal spirit makers are staring down a sobering cocktail of challenges as tariffs and brand boycotts threaten to exacerbate wider shifts in drinking habits.French cognac maker Rémy Cointreau on Wednesday became the latest spirits maker, following Diageo and Pernod Ricard, to withdraw its sales targets on increased economic and trade uncertainty.”Given the continued lack of macroeconomic visibility, the geopolitical uncertainties surrounding U.S.-China tariff policies, and the absence to date of a recovery in the U.S. market … the conditions required to maintain [Remy Cointreau’s] 2029-2030 targets are no longer…

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The latest economic reports show a surprisingly stable U.S. job market, but there are “cracks in the foundation” that could spell trouble for workers in the coming months, according to Andrew Flowers, chief economist at Appcast, a recruitment marketing provider.The U.S. added 139,000 jobs in May, beating expectations and down slightly from 147,000 in April, according to new data from the Bureau of Labor Statistics. The unemployment rate held steady at 4.2% while the underemployed rate, or the share of part-time workers who want full-time jobs, remained unchanged at 7.8%.Looking at the bigger picture, the job market is “treading water”…

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Next week’s inflation data could be the first to show the impact of higher tariffs. Economists expect that the May readings for the consumer and producer price index — both inputs for the Federal Reserve’s favorite inflation gauge later this month — could start to show a rise in goods inflation, which is sensitive to the higher levies imposed by the Trump administration on imports. The consumer price index, or CPI, for example, is expected to have held steady in May, up 0.2% from April, according to economists polled by FactSet. Excluding volatile food and energy prices, however, CPI is…

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CNBC’s Jim Cramer walked investors through next week on Wall Street, pinpointing the latest consumer price index report and a number of investor days, including one from BlackRock.He also touched on how the feud between President Donald Trump and Tesla CEO Elon Musk reverberated through a market that is sensitive to social media posts from prominent figures.”We should be headed for a quiet week, but, you know what, we’ve got to stay close to Truth Social to see what’s going on in the White House before we assess anything these days,” he said. “Given what happened with the president and…

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 President Donald Trump said on Friday that he has no plans to speak with Elon Musk, signaling the president and his former ally might not resolve their feud over a sweeping tax-cut bill any time soon.Addressing reporters aboard Air Force One, Trump said he wasn’t “thinking about” the Tesla CEO.”I hope he does well with Tesla,” Trump said.However, Trump said a review of Musk’s extensive contracts with the federal government was in order. “We’ll take look at everything,” the president said. “It’s a lot of money.”Trump may get rid of the red Tesla Model S that he bought in March after showcasing Musk’s electric cars on the White House lawn, a White House official said, speaking on condition of anonymity.Musk, for his part, did…

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