Temu halts shipping direct from China as de minimis tariff loophole is cut off
Earlier this week, Temu increased prices and added “import charges” ranging from 130% to 150% on products shipped direct from China.
Financial News
Nvidia says Anthropic is telling ‘tall tales’ in its defense of U.S. AI chip restrictions on China
President Donald Trump is reportedly working on updating the chip restrictions, adding another layer of uncertainty to the already contentious policy.
Trump says he’ll blame Biden again for 2nd quarter GDP after blaming him for Q1 drop
Trump defended his tariff policies, which many have blamed for a decrease in stock market prices since he began his second term in the White House.
Commerce Secretary Lutnick says one trade deal is done, but waiting on approval from unnamed country’s leaders
Lutnick said a trade deal is “done, done, done, done,” but he declined to say which country he was talking about.
Treasury Secretary Bessent says it’s up to China to de-escalate trade tensions
The comments come with markets on edge over the direction of tariffs.
Americans are getting flashbacks to 2008 as tariffs stoke recession fears
‘It’s the old poors teaching the new poors,’ said one content creator.
Buy now, stock up or delay: Here’s what consumers are snapping up or putting off in face of tariffs
Fears of tariff-related higher prices have motivated consumers to buy cars early, but it’s also contributing to a hesitance to buy and a hunger for deals.
Amazon sellers raise prices after Trump’s China tariff: ‘It’s unsustainable’
Amazon third-party sellers are raising prices and looking for new suppliers after President Trump lifted tariffs on goods from China.
Bank of England chief focused on tariff ‘growth shock’ but downplays UK recession risk
Bank of England Governor Andrew Bailey said Thursday that the central bank is focused on the potential U.K. growth shock from U.S. tariffs.
Treasury Sec. Bessent says China, U.S. have ‘opportunity for a big deal’ on trade
Bessent named-checked Bridgewater founder Ray Dalio, who recently expressed fears of a sharp fallout from President Donald Trump’s tariff policies.