Uncertainty around President Trump’s ever-changing tariff agenda is already hitting small businesses hard, and threatening their very survival, operators say. With baseline 10% taxes on all imported goods in effect and country-based levies looming, business operations have become significantly more challenging for the U.S.’ nearly 35 million smaller enterprises, owners told CBS MoneyWatch. One of the…
Temu, a low-cost retailer based in China, has overhauled its business model by halting shipments of Chinese-made goods to customers in the U.S. The move follows the May 2 expiration of the so-called de minimis exemption from tariffs for low-value parcels sent to the U.S. from abroad. The Trump administration’s move earlier this year to…
New tariffs for auto parts kick in, Trump to meet newly-elected Canadian PM Mark Carney – CBS News Watch CBS News President Trump is insisting the economy is fine as new tariffs on imported auto parts took effect this weekend. Meanwhile, the president will meet face to face at the White House Tuesday with Canadian…
President Trump on Sunday announced movies as the latest target for tariffs because the U.S. movie industry “is DYING a very fast death.” In a Truth Social post, the president said he’s authorizing the Department of Commerce and the United States Trade Representative to begin the process of imposing a 100% tariffs “on any and…
Things are getting awkward for the Federal Reserve. With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington on Tuesday and Wednesday. But fears of a slowdown are mounting, and President Donald Trump and some of his deputies keep hammering the central bank for an interest-rate cut. Caught…
Trump’s 25% tariff on imported auto parts kicks in – CBS News Watch CBS News The latest shot in President Trump’s global trade war was fired on Saturday. New tariffs on imported car parts took effect but the economy proved resilient. Willie James Inman has the latest. Be the first to know Get browser notifications…
Normandy, France — The heroic D-Day landings in Normandy marked the beginning of the end of World War II, where thousands of the Americans who fell in the assault still rest in graves in northwestern France. It was the sacrifice of the American and European Allied soldiers during the Normandy Invasion, and of course their great…
To investors worried about the direction of volatile markets over the next few weeks, fear not. I have some good news for you. The impact of US President Donald Trump’s tariff tantrum is abating. The markets are back to normal – at least for now. But to understand why markets have somewhat recovered, albeit temporarily,…
Why this CEO supports Trump’s 25% steel tariff – CBS News Watch CBS News While many businesses are steeling themselves for trade war losses, the American steel industry has a brighter outlook. Elaine Quijano reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On…
The Three Brothers Diner has been serving the Danbury, Connecticut community for the last 50 years. The family-run business, which is managed by Stanley Kallivrousis, has navigated economic uncertainty before, including the 2008 recession and the COVID-19 pandemic. However, it is the decrease in consumer sentiment that’s now plaguing the Danbury hotspot. “People aren’t as…