President Donald Trump confirmed that his administration is considering sending direct payments of $1,000 to $2,000 to American taxpayers, funded by revenue from his new tariffs on imported goods. The proposal would mark a historic redistribution of tariff income, with Trump describing it as a potential “dividend to the people of America.”
On CNBC’s Squawk Box, Ford CEO Jim Farley applauded President Trump’s proposed 25 percent tariff on heavy‑duty trucks, calling it an opportunity to level the playing field for American manufacturers. He acknowledged, however, that parts tariffs—ranging from 25 to 70 percent—create a major “headwind” for Ford, adding roughly $2 billion in costs. Farley expressed optimism that solutions are within reach through ongoing negotiations with the administration.
Americans are waking up to a bitter reality: their daily cup of coffee costs more than ever. According to the Bureau of Labor Statistics, a coffee price crisis is hitting wallets hard, with prices up 20.9% from last year and 3.6% in just one month—the steepest increase since 2011.
The U.S. Supreme Court is set to hear arguments on whether President Donald Trump exceeded his authority by imposing sweeping tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). Lower courts have ruled that IEEPA does not authorize such broad trade actions without clear congressional approval. Trump’s administration argues otherwise, saying the statute empowers the president to “regulate importation” during declared emergencies, which they interpret to include the power to impose tariffs.
The U.S. trade deficit surged to $78.3 billion in July—its highest level in four months—driven by a sharp spike in imports ahead of expected tariff increases. The Commerce Department reported Thursday that the gap jumped 32.5% from June’s revised $59.1 billion, marking the steepest monthly deterioration in nearly a year.
European postal services are suspending shipments to the United States as President Donald Trump's tariff overhaul dismantles a long-standing import duty exemption. The disruption centers on the expiration of the "de minimis" exemption, which allowed packages under $800 to enter the U.S. duty-free. With the exemption set to expire next Friday, confusion over the new rules has already led postal carriers across Europe to pause U.S.-bound shipments.
Radical leftist Brazilian President Luiz Inácio Lula da Silva escalated tensions with the United States on Thursday, accusing President Donald Trump of lying about Brazil’s trade record and vowing that his country would not “bow down” to Washington. Lula’s remarks came during an official event in Recife, hours after Trump criticized Brazil’s high tariffs and the ongoing prosecution of conservative former President Jair Bolsonaro.
Ontario Premier Doug Ford sharply criticized President Donald Trump during a CNN interview, accusing him of deliberately harming American workers through aggressive tariff policies. Ford cited job losses, rising costs in the auto industry, and strained U.S.-Canada trade relations as signs of failed economic leadership.
