Global markets have been adversely affected by Trump’s tariffs
US President Donald Trump has proposed to impose tariffs of 25% on Chinese goods and 10% on Mexican goods. The tariffs are aimed at reducing America’s $2 trillion trade surplus with China. Trump has also proposed a 25% tariff on the import of cars from Canada and Mexico, along with 10% tariffs on Chinese steel and aluminum.
Economics has been awarded for study of inequality
Daron Acemoglu, who won the 2020 Nobel Prize in Economics, said that introducing democracy is “very hard”. “It is in some sense quite crucial that theyReclaim the high ground of better governance, cleaner governance, and delivering sort of the promise of democracy to a broad range of people,” he added. Acemoglu is one of the three men awarded the prize.
The rate cut was a tough call and good for the economy
The Federal Reserve on Wednesday cut its benchmark interest rate for the first time in over four years and said it would reduce it by a quarter percentage point to 5%. The rate cut comes as the US economy faces slow job growth and a high unemployment rate. The Fed also raised the federal funds rate from a previous range of 5.5% to 5%.
Why elderly farmers do not want to go to the nursing home
Farmers in a US state were forced to sell or break down their farm to pay for long-term care after Medicaid didn’t paid for it, as per a report. Farmers with land worth less than $1 million are at the greatest risk of losing their entire farm over long-term care costs, an attorney said. Farmers in North Dakota faced the same situation.
Dodge puts a price on its first electric car
Dodge has unveiled its Fratzonic Chambered Exhaust system on the Daytona and Scat Pack four-door models of the automaker’s muscle car. The Fratzonic Chambered Exhaust system is designed to deliver a sound that is ” worthy of the brotherhood of Muscle”. The Fratzonic Chambered Exhaust system is supported by four custom Isobolator Bushings and high-energy passive radiators.
The CEO of Delta says that the CrowdStrike incident cost the airline $500 million in 5 days
Delta Airlines CEO Ed Bastian has said that the carrier has “no choice” but to take action against software firm CrowdStrike, which caused the airline’s software outage on July 10. “We have no choice,” Bastian said about potential action against CrowdStrike. He also referred to Microsoft as “the most fragile platform” and asked, “When was the last time you heard of a big outage at Apple?”
There’s a question about the future of the economy
The ‘The Ranch Complex’, a 50-acre property for a family-ominated ranch in the George Washington and Jefferson National Forests, Washington, DC, is designed to house over 100 members. Some of the bedrooms are large and have enough space for a student, but they’re also stocked with plastic bins and duffel bags. There are balconies along the edge of the forest.
Police shoot at protesters as the parliament burns
Kenyan President William Ruto has said that he will not sign into law a new tax bill that has sparked protests across the country. Hundreds of people took to the streets of the country to protest against the bill, which seeks to increase the consumption tax from 5% to 10%. The Kenya Human Rights Commission has also shared a video of officers shooting at protesters.
Biden is trying to buy time with the new tariffs on China
US President Joe Biden’s administration has announced tariffs on imports from China, which will increase tariffs on goods from China to 50% by 2025. The increased tariffs will affect around $18 billion a year in imports. Some of the goods include critical minerals like lithium, rare earths, and cobalt, which could also affect the electric vehicle (EV) industry.
The US is planning to raise tariffs on batteries, computers, and solar cells from China
US President Joe Biden announced new tariffs on $18 billion in imports from China, including electric vehicles, semiconductors and medical products, to “protect American workers and businesses from the flood of unfairly traded products”. The new tariffs are necessary to protect American workers and business from the flood of unfairly traded products, he added. It is expected to affect around $18 billion in annual imports.