Wholesale prices surged in July: BLS The Bureau of Labor Statistics announced this week that wholesale prices in the month of July rose at the fastest pace in three years. We take a look at how this may impact other areas of the economy. Washington, D.C. – The federal government put out a report on…
The Chinese foreign ministry on Thursday said China and India are both major developing countries and important members of the Global South, and “cooperative pas de deux of the dragon and the elephant as partners helping each other succeed is the right choice for both sides”, reported Global Times. China’s President Xi Jinping and India’s…
The producer price index, or PPI, surged last month, far outpacing economists’ forecasts and suggesting that President Trump’s tariffs are starting to significantly drive up the cost of imported goods. Wholesale inflation rose 0.9% in July from the prior month, the Labor Department said Thursday, outstripping economists’ expectations for a 0.2% increase. The jump marks…
The most important meal of the day is also shaping up to be the most skipped meal of the day, at least according to two of the country’s largest fast-food chains. McDonald’s and Wendy’s last week, during their respective earnings calls, said they’re seeing sluggish breakfast sales. The companies attributed the trend to heightened economic…
Louisville, Kentucky — GE Appliances plans to shift production of refrigerators, gas ranges and water heaters out of China and Mexico as part of a more than $3 billion investment to expand its U.S. operations in Kentucky, Georgia, Alabama, Tennessee and South Carolina. The investment — the second-largest in the Louisville-based company’s history — is expected…
South Africa will offer a “generous” new trade deal to the United States on Tuesday to avoid 30-percent tariffs, government ministers said. US President Donald Trump meets with South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, DC, on May 21, 2025.(AFP) Washington on Friday slapped the huge tariff…
Trump delays China tariff deadline for another 90 days – CBS News Watch CBS News President Trump signed an executive order on Monday to delay steep tariffs against China for another 90 days, extending the trade truce between the two countries to continue negotiations. CBS News’ Ramy Inocencio has more details. Source link
The Consumer Price Index in July rose 2.7% on an annual basis, slightly cooler than economists had forecast. By the numbers The CPI was expected to rise 2.8% last month, according to economists polled by financial data firm FactSet. On a month-over-month basis, the CPI rose 0.2%, in line with economists’ forecasts. The CPI, a…
The United States and China have agreed to push back today’s self-imposed deadline for reaching a trade deal. (CNN) – The United States and China have agreed to push back today’s self-imposed deadline for reaching a trade deal, allowing current tariff rates to remain in place for another 90 days as negotiations continue. President Donald…
Reporter’s Notebook: Who actually pays tariffs? – CBS News Watch CBS News John Dickerson goes inside the numbers on who actually pays when tariffs are levied against imports. Source link