Update 874 – Tariff Rate Date MoveMay CPI, Rescissions Bill Lead Week On Tuesday, President Trump announced that the United States had completed a framework for a trade deal with China, calling for both countries to loosen export controls and bring tariff rates back down to levels agreed to in the Geneva “truce.” The next …
Update 874: Round-Up on Trade, Prices, Recissions Read More »
Update 872– The Trump-Musk Meltdown:Elon Attacks OBBB… But to Any Effect? Yesterday, President Trump and Elon Musk’s disagreement over the projected deficit impact of Trump’s reconciliation package erupted into public view on social media. While the dust seems to have settled somewhat as of today, this split raises questions about Musk’s political influence going forward. …
Update 871 – Tariffs’ Court Battles;Musk Mission Ends in Fiscal Failure Trump’s trade agenda hit a major but tentative roadblock this week as two courts halted many of his tariffs, ruling his use of emergency powers “unlawful.” As the appeals process unfolds, the administration is able to maintain its tariff rates, but its long-term survival …
Update 869 – Treasuries Downgraded:Causes, Costs of Moody’s Rating Cut The United States’ debt rating was downgraded from Aaa to Aa1 by Moody’s Ratings on Friday. The move makes Moody’s the final of the three major credit rating agencies to move the nation’s credit rating down from triple A to one notch below perfect. Moody’s …
Update 868 – Reconciliation Halted:House Budget Stops Massive Tax Bill In a somewhat surprising turn of events today, the House Budget Committee rejected the GOP reconciliation blueprint, with four Republicans joining Democrats in opposition. The Republican defectors cited concerns over the proposal’s overall deficit impact, as well as delays in implementing cost-reduction measures like Medicaid …
Update 864 – GDP Contracts by 0.3%;Trump Skins FY26 Domestic Spending Three key pieces of economic data were released this week. The Fed’s preferred measure of inflation ticked down to 2.3 percent in March, nearing the Fed’s two percent target, while a strong 177,000 jobs were added to the economy and unemployment remained unchanged at …
Update 863 – A Tariffying 100 Days:GDP, Markets, Polling All in Retreat Yesterday marked 100 days since Trump began his second term, a period marked by chaotic and unpredictable shifts in economic policy and a prioritization of Wall Street and the wealthy at the expense of everyday people. His administration, with acquiescence by congressional Republicans, …
Update 860 – Trump Winging it on Tariffs,Moves to Dismantle Direct File, CFPB Last weekend, the Trump administration exempted some electronic products from its reciprocal tariff regime, an exception likely to be brief. Trump and his advisors have hinted at an investigation to determine an eventual duty on these products. Separately, this week, the administration …
Update 857 – WH: 90-Day 10% Tariff FreezeFor 75 Trade Partners; China Rate at 125% House Republicans are determined to push multiple pieces of economic policy legislation through the chamber this week before they leave town for the Easter recess, including resolutions to keep banking overdraft fees high and payment apps like Cash App and …
Update 855 – Import “Liberation Day”As Trump Recasts US Tariff Rates Yesterday constituted what may be the most consequential day of U.S. and global economic policy in over a century. It was anybody’s guess as to how President Donald Trump would structure his tariff announcement, from country-by-country calculations or establishing sectoral standards and reciprocal duties. …
