Trucks coming from Mexico enter the United States to an inspection station after crossing the border in Otay Mesa, California, on April 1, 2025. Sandy Huffaker | AFP | Getty Images The dread of something bad happening is usually more severe than the event itself.This could well be the case for U.S. President Donald Trump’s wide-ranging tariff plan. Even though Trump initially described it as “reciprocal tariffs,” implying that the U.S. would match other countries’ import levies, the White House is reportedly considering a 20% charge on most goods and services. The figure sounds high, but is dramatically lower than, for…
Author: usaeverydaylife
The U.S. government is set to increase tariff rates on several categories of imported products. Some economists tracking these trade proposals say the higher tariff rates could lead to higher consumer prices.One model constructed by the Federal Reserve Bank of Boston suggests that in an “extreme” scenario, heightened taxes on U.S. imports could result in a 1.4 percentage point to 2.2 percentage point increase to core inflation. This scenario assumes 60% tariff rates on Chinese imports and 10% tariff rates on imports from all other countries.The researchers note that many other tariff proposals have surfaced since they published their findings…
There were times, before Israeli airstrikes on Gaza shattered the two-month-old cease-fire on March 18, when Huda Abu Teir and her family could almost believe things might go back to normal.After fleeing from their home to a shelter for displaced people, and then to a tent, another shelter and on to another encampment during 15 months of war — six or seven displacements in all — they had returned to their house in Abasan al-Kabira, in southeastern Gaza, where they lived with Huda’s grandparents and uncles.Back at home a few weeks ago, Huda, 19, threw a pizza party for her…
Israel’s Foreign Minister Israel Katz in Jerusalem on October 7, 2024. Ahmed Gharabli | Afp | Getty ImagesIsraeli Defense Minister Israel Katz announced a major expansion of the military operation in Gaza on Wednesday, saying large areas of the enclave would be seized and added to the security zones of Israel.In a statement, Katz said there would be large-scale evacuation of population from areas where there is fighting, and urged Gazans to eliminate Hamas and return Israeli hostages as the only way to end the war.He did not make clear how much land Israel intends to seize, however.It has already set…
Artificial intelligence has become an increasingly popular theme among family offices in Singapore and the wider Asia region, LH Koh, managing director and head of global family and institutional wealth at UBS said at CNBC’s CONVERGE LIVE event in Singapore last month.”Our family office clients are focusing on this as perhaps the most interesting and important sector,” he said in a conversation with CNBC’s Robert Frank.Koh, whose clients are based across the Asia-Pacific region, believes the “trend focusing on AI will still continue.”He cited a 2024 UBS survey which found that more than three-quarters of family are keen to invest in generative…
British Prime Minister Keir Starmer and U.S. President Donald Trump shake hands during a joint press conference in the East Room at the White House, Feb. 27, 2025 in Washington, D.C., U.S.Carl Court | Via ReutersAs countries around the world brace for the implementation of U.S. President Donald Trump’s trade tariffs and with more targeted levies likely impending, the U.K. still hopes it can escape the worse of the import duties.Britain has touted its far more balanced trading relationship with the U.S. in recent weeks, looking for a more lenient approach from Trump. The White House leader is railing against…
An 800-mile rail corridor stretching from Angola’s northern border to the Atlantic Ocean was former President Joseph R. Biden Jr.’s signature project in Africa, meant to counter Chinese influence and reshape America’s engagement with the continent.When President Trump came into office this year, he quickly moved to dismantle decades of American aid to Africa, raising fears that the United States was pulling back from its commitments. The future of America’s involvement in the rail project was an open question.But this week, the acting U.S. ambassador in Angola, James Story, gave the first indication that the Trump administration was on board…
Foreign currencies are advertised in a window in Times Square, one of New York’s and the nation’s top tourist attractions, on March 28, 2025, in New York City. Spencer Platt | Getty ImagesThe rollout of U.S. President Donald Trump’s tariffs regime is dampening sentiment toward the dollar and prompting investors to look elsewhere for their foreign exchange (FX) trades, strategists told CNBC. The dollar index, which measures the value of the greenback against a basket of major rivals, was little changed on Wednesday morning. The U.S. currency began a steady rise in late 2024 that peaked in mid-January — however, the…
European markets are heading for a negative open Wednesday as global traders brace themselves for a raft of fresh trade tariffs to be announced by U.S. President Donald Trump’s administration.The U.K.’s FTSE 100 index is expected to open 24 points lower at 8,558, Germany’s DAX down 38 points at 22,501, France’s CAC 4 points lower at 7,872 and Italy’s FTSE MIB 74 points lower at 37,977, according to data from IG. Global markets traded in mixed territory Tuesday amid concerns that the White House could be erring toward more punitive import duties after Trump said earlier this week that his “reciprocal tariffs”…
SEIZED OZEMPIC, WEGOVY AND OTHER WEIGHT LOSS DRUGS AT JFK AIRPORT’S INTERNATIONAL MAIL FACILITY.CNBCCOPENHAGEN, Denmark — Europe’s pharmaceutical sector is bracing for the potential impact of U.S. tariffs as hopes of an industry-wide exemption by U.S. President Donald Trump fade.The pharmaceutical industry has until now been exempt from trade levies, but Trump confirmed last week that he would soon impose tariffs on the sector.Drugmakers are now lobbying the president for a phased approach to duties on imports to the U.S., Reuters reported Tuesday, citing four sources familiar with the discussions. The sources said the levies may not be announced Wednesday…
