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President Donald Trump said that he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug.
President Donald Trump expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.
National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.
Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week.
The EU is America’s biggest business partner and the world’s largest trading bloc. The US decision will have repercussions for governments, companies, and consumers on both sides of the Atlantic.
Kristi Noem says Trump wants FEMA 'remade,' and more tariffs are set for U.S. trade partners: Weekend Rundown Homeland Security Secretary Kristi Noem said President Donald Trump wants the Federal Emergency Management Agency “remade” rather than dismantled entirely.
In Kerr County, Trump was greeted by Gov. Greg Abbott, who on Friday announced the federal government updated Trump's disaster declaration to include more counties. Abbott said the move "will provide critical assistance to Texans and communities impacted by the devastating flooding."