tariffs

"Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of #Trump’s sweeping #tariffs on nearly all imports.

Sales at retail stores, restaurants dropped 0.9% in Mayafter decline of 0.1% in April..pulled down by a steep drop in auto sales, after Americans ramped up their car-buying in March to get ahead of Trump’s 25% duty on imported cars and car parts. Excluding autos, sales fell 0.3%" #TrumpTax https://abcnews.go.com/Business/wireStory/us-retail-sales-fall-americans-turn-cautious-after-122924889

The calm in the #markets has been unnerving.

You might think the world has been enjoying a season so tranquil that the #stock, #bond & #currency markets have fallen asleep.

Yet the world has been anything but peaceful lately, whether in the #UnitedStates, #Ukraine or the #PersianGulf. And the #FederalReserve gave the markets another reason for concern on Wednesday when it held #InterestRates steady.

#economy #inflation #stagnation #tariffs #employment #immigration #war
https://www.nytimes.com/2025/06/20/business/stock-bond-market-investing-israel-iran-gulf.html?smid=nytcore-ios-share&referringSource=articleShare

More #Tariffs Threat Makes US Trade Partners Wary of Signing Deals -

Tariff negotiations with the #Trump administration are running into roadblocks, as partners balk at signing deals without knowing how badly they’ll be hit by separate levies on exports
#TrumpTax
https://www.bloomberg.com/news/articles/2025-06-26/fear-of-sectoral-tariffs-proving-roadblock-for-trump-trade-deals

Nike says #Trump tariff war cost it $1bn

#Indonesia, #Vietnam and #China manufactured 95% of its footwear.

#Tariffs of up to 60% has been imposed on them.

« #Nike reported its worst quarterly earnings in more than three years, as revenues slumped 12% to $11.1bn in the three months to the end of May. » #tootsea

https://www.theguardian.com/business/2025/jun/27/nike-says-trump-tariff-war-could-cost-it-1bn

For decades, Republicans have pretended to be the "party of the private sector" by falsely claiming that the economy only adds government jobs under Democratic presidents.

Today's jobs report from ADP disproves that GOP talking point and shows once again that Democrats are the true party of private-sector job creation, which has slowed dramatically under Trump:

#Jobs #Economy #Unemployment #Trump #Recession #Tariffs #USPol

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