Here’s the most recent on U.S. trade with top partners
Australian Prime Minister Anthony Albanese said his government would not retaliate against the US tariffs on Australian aluminum and steel. He added that Australia would “closely” monitor the situation. Trump had announced tariffs of 25% on steel and 10% on aluminium imports from Australia, Canada, Mexico, the European Union, South Korea and Japan.
Shoppers and businesses fear higher prices if tariffs on Mexican and Canada imports start Saturday
US President Donald Trump has said that he would impose tariffs of 10% on US$50 billion worth of imports from Canada and Mexico. The tariffs would come into force on Friday. Trump had previously threatened tariffs of up to 60% on goods from China and up to 100% on goods from Mexico.
Sean Duffy is the President’s pick to be the Secretary of transportation
US President Donald Trump’s nominee for the Department of Transportation Sean Duffy, who worked with both parties to replace a bridge between his home state of Wisconsin and Minnesota, revealed that he was an Air Traffic Controller’s wife. Duffy added that his wife had survived a deadly head-on car crash and the road safety has hit close to home for him.
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.