The European Union warns that a 30% tariff on goods imported from the bloc by the United States would effectively halt trade. EU Trade Commissioner Maroš Šefčovič expressed concern over the potential for “super-negative” effects on both sides of the Atlantic and emphasized the EU’s desire for a negotiated agreement with Washington. The EU is delaying countermeasures on US exports to allow for more negotiation, but is preparing to retaliate. European stocks fell on Monday following the new tariff threat.
Read More
U.S. customs duties revenue exceeded $100 billion for the first time this fiscal year, largely due to increased tariffs imposed by the Trump administration. The Treasury Department reported $113 billion in customs-duty revenue year-to-date, accompanied by a $27 billion overall surplus in June, contrasting with a deficit from the previous year. These tariffs, aimed at boosting domestic production and addressing trade imbalances, have been applied to various trading partners, including China, Brazil, and Japan, although the fluctuating nature of these policies introduces uncertainty regarding future revenue. Treasury Secretary Scott Bessent suggests the US could collect over $300 billion in tariffs by the end of the year.
Read More
A recent report reveals that the U.S. is projected to be the only country out of 184 to experience a decrease in foreign visitor spending in 2025. This decline, driven by policies and rhetoric from the Trump administration, could result in a loss of billions of dollars for the U.S. economy. The World Travel and Tourism Council’s study indicates a potential $12.5 billion loss in international spending, with some analysis suggesting the shortfall could be much higher. The drop is particularly notable among Canadian visitors, while countries like Mexico are expected to see significant growth in tourism revenue.
Read More
The U.S. dollar has just experienced its most significant decline for the first half of any year since 1973, and that’s a pretty startling statistic to digest. It immediately begs the question: what’s causing this, and what does it mean for the average person? The last time we saw a drop of this magnitude was back in the early seventies – a period marked by significant economic shifts. Now, we’re seeing echoes of that, and it’s natural to feel a bit disoriented by it all.
Essentially, a weaker dollar means that the value of the currency is decreasing compared to other currencies around the world.… Continue reading
A new study reveals that same-sex weddings and related spending by couples and out-of-state guests have generated approximately $5.9 billion in economic activity over the past decade. This includes an estimated $4.9 billion directly spent on weddings by 473,000 same-sex couples, plus nearly $1 billion from out-of-state guests. This spending supported an estimated 41,300 jobs and generated $432.2 million in state and local sales tax revenue. Despite recent state-level challenges, the Respect for Marriage Act ensures federal recognition of same-sex marriages.
Read More
Employees terrified of ICE raids are failing to show up for work, creating a significant disruption across various sectors. This isn’t simply a matter of undocumented workers staying home; the fear extends to US citizens as well, those who may appear to be of Hispanic origin and are mistaken for undocumented immigrants. The uncertainty surrounding ICE’s actions, including the reported instances of citizens being detained without warrants, has fostered a climate of widespread anxiety.
This fear isn’t confined to specific industries like farming or construction; its impact is being felt across the board. Reports are emerging from various sectors, including restaurants, auto body shops, and even courtrooms, where a shortage of interpreters is being reported due to this widespread fear.… Continue reading
US aluminum premiums have skyrocketed to record highs following the implementation of tariffs, a development that’s sparked considerable debate and reveals a complex interplay of economic factors. The initial reaction might be one of patriotic celebration – a perceived triumph of protectionist policies designed to bolster domestic manufacturing. However, a closer examination suggests a more nuanced, and less celebratory, reality.
The significant reliance on aluminum imports, particularly from Canada, immediately throws cold water on the notion of a simple win for American manufacturers. While the intention might have been to shield American aluminum producers from foreign competition, the reality is that the US remains heavily dependent on imported aluminum.… Continue reading
The EPA’s proposed rollback of environmental regulations, while touted as economically beneficial, is projected to have severe public health consequences. Analysis indicates the rule changes could result in an estimated 30,000 annual deaths and cost $275 billion in lost savings due to increased pollution. Experts deem these figures conservative, with even partial dismantling resulting in higher levels of harmful pollutants. Despite the EPA’s claims of economic benefits, the agency’s own prior assessments demonstrate the substantial health and financial advantages of maintaining existing regulations.
Read More
President Trump’s tariffs, including a 10% baseline and 30% on Chinese goods, are forcing numerous retailers to raise prices. Major companies like Walmart, Mattel, and Best Buy have announced price increases on various products, citing the tariffs’ significant impact on their costs. This increase affects a wide range of goods, from toys and electronics to clothing and automobiles. Further price hikes are expected from companies including Ford, Subaru, and Procter & Gamble, highlighting the broad economic consequences of the tariffs.
Read More
India’s monsoon rains, a lifeline for the nation’s agriculture and economy, arrived eight days early this year—the earliest arrival in sixteen years. This unprecedented timing has sparked both excitement and concern, highlighting the increasing unpredictability of global weather patterns and the challenges posed by climate change.
The early arrival, while initially welcomed, raises questions about the long-term implications for India’s agricultural sector. Many summer crops don’t require as much water as they’ll now receive, risking potential damage or even crop failure from over-saturation. This early deluge could lead to a cascade of negative consequences, affecting not only farmers’ yields but also impacting the overall economy and potentially global food supplies.… Continue reading
John Q. Hosedrinker 
Matt Underwood