Cheaper goods from China are set to become a lot more expensive for U.S. consumers with the May 2 expiration of a loophole that allowed lower cost packages to enter the country duty-free. Ultra-low cost retailers like Shein and Temu are among the major players that until Friday relied on a tax loophole that allowed…
By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at “60 Minutes,” CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Updated on: May 2, 2025 / 8:45 AM EDT / CBS News…
Baby products are getting more expensive under tariffs – CBS News Watch CBS News The journey to parenthood is getting more expensive as tariffs on imported baby products are making them harder to afford. Elaine Quijano reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now…
President Trump describes his administration’s sweeping new tariffs on other countries as a tool for accomplishing a range of key economic goals, including reviving U.S. manufacturing. Recently, he’s been highlighting another aim: Lowering, or even eliminating, individual income taxes for most Americans. “When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe…
US President Donald Trump says there is “a very good chance” of reaching a trade deal with China, even as his own trade envoy acknowledged just hours earlier that no tariff discussions are taking place between Washington and Beijing. “Will we make a deal? There’s a very good chance we’re going to make a deal…
Reporter’s Notebook: Tariffs bring back COVID-era fears for small businesses – CBS News Watch CBS News Rising import costs are squeezing small businesses. Many say it feels just like the early days of the COVID-19 pandemic. “CBS Evening News” co-anchor John Dickerson explains. Be the first to know Get browser notifications for breaking news, live…
China will hold off on entering serious trade talks with the US while it waits to see which of Donald Trump’s advisers will have his ear and how other countries will respond to the 90-day pause on tariffs, according to sources. The Trump administration was “too divided” and China was in no rush to negotiate…