Gasoline/USD

The Trump administration on Friday will impose new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union, over allegations of lax enforcement of forced labor bans, just as a temporary 10% global tariff expires. The move is the White House's latest effort to restore President Donald Trump's campaign vision of a near-global ...

Please let this statement serve to represent, until further notice, that from this point forth, any and all damages done to Ships, Cargo, or anything related thereto, will be paid for by Iranian Money that the United States has in its possession, and controls. These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do. Thank you for your attention to this matter! President DONALD J. TRUMP

Senior US Official Briefs: US Sets 10%-12.5% Tariff For Many Nations That Don't Ban Forced Labor, Citing Forced Labor; Tariffs Begin As Prior 10% Global Duty Expires; Exempts Oil, Gas, Fertilizer, Food Stuffs U.s. Official Says It Is Not The Case That These Measures Simply Replicate The Ieepa Tariffs Struck Down By The Supreme Court, And That The President Will Use The Tools At His Disposal, Including Tariffs, To Achieve The Outcomes He Wants. U.s. Official Says Oil And Gas, Fertilizer And Certain Foodstuffs Will Be Exempted, Along With Goods Subject To Section 232 National Security Tariffs And Usmca-compliant Goods, Given The Integrated Nature Of North American Supply Chains And High U.s. Content Levels. U.s. Official Says The New Section 301 Tariffs Take Effect At 12:01 A.m. (0401 Gmt) July 24, With An Effective Date For Goods In Transit Of 12:01 A.m. (0401 Gmt) July 28, As Section 122 Tariffs Expire On July 24.

The Trump administration is exploring the removal of Federal Reserve Governor Michael Barr, Bloomberg News reported on the 22nd, citing multiple sources. The focus is an external investigation by the Fed into the spring 2023 collapse of Silicon Valley Bank (SVB), with the move seen as an effort to hold Barr accountable—he was the Fed's Vice Chair for ...

Retail sales increased 1.0% to $73.7 billion in May. Sales were up in all nine subsectors, led by increases at gasoline stations and fuel vendors. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were up 0.9% in May. In volume terms, retail sales increased 0.3% in May. The largest increase in retail ...

In the week ending July 18, the advance figure for seasonally adjusted initial claims was 187,000, a decrease of 22,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 208,000 to 209,000. The 4-week moving average was 207,500, a decrease of 7,250 from the previous week's revised average. The previous week's ...

On Monday, the Trump administration issued this ‘fact sheet’ and supporting Executive Orders (here, here, & here). Here is a brief summary of what they contain. • Under Section 338 of the Tariff Act of 1930, the US is to impose additional 50% tariffs on certain goods from Canada allegedly in response to Canada’s discriminatory treatment of American ...

Marietta, GA

With Section 122's flat 10% tariff expiring on 24 July, the switch to Section 301 and Section 338 tariffs will send the US average import tariff back above 2025's IEEPA-era level to 12.4%, up from a May low of 7.7%. And this time it should stick: Section 301 requires formal USTR investigations and is far harder to challenge in court. History shows these ...

U.K. Prime Minister Andy Burnham’s announcements during his first 24 hours on the job underscore the political and financial challenges he faces as he tries to jump-start the country’s sluggish economy. Burnham, from Britain’s left-leaning Labour Party, faces restive voters seeking relief from the high cost of living. At the same time, the investors who ...