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Arlington, VA
Politics
Trump's Tariffs Temporarily Reinstated After Appeals Court Blocks Two Rulings
The Trump administration can temporarily continue collecting tariffs after an appeals court lifted a lower court's block on the President's sweeping duties that have shaken global markets. The US Court of Appeals for the Federal Circuit paused the ruling by the US Court of International Trade on Thursday, May 29. The trade court had struck down most of President Donald Trump's global tariffs, saying he had improperly used the International Emergency Economic Powers Act to impose the duties. The dozen states and five small businesses who sued to block Trump's tariffs have unti…
Reston, VA
News
Covid-
19: Here Are Symptoms Of New Variant Sparking China Surge Now Surfacing In US
A highly transmissible COVID-19 variant behind a rise in cases in China has made its way to the United States, and now attention is starting to focus on whether its symptoms bear any distinctions from numerous other strains. Earlier report: COVID-19: NB.1.8.1 Strain Behind China Surge Surfacing In US Cases of the NB.1.8.1 variant have shown up in US airport screenings, but there have not been enough for it to appear on the Centers for Disease Control and Prevention (CDC) tracker of COVID variants. NB.1.8.1 is now considered a “variant under monitoring,” with current vaccines expe…
New Rochelle, NY
Business
Federal Court Strikes Down Trump's Global Tariffs, Citing Abuse Of Emergency Powers Law
A federal court has blocked President Donald Trump's sweeping tariffs, ruling that he improperly used emergency powers to launch trade wars that badly hurt businesses and rocked global markets. The ruling was handed down by a three-judge panel at the US Court of International Trade on Wednesday, May 28. The judges' decision came amid several lawsuits accusing Trump of abusing his power as President to slap arbitrary tariffs on other countries. The court determined that Trump doesn't have the authority to use the International Emergency Economic Powers Act to impose the sweeping duties …
Arlington, VA
Business
'Trump Always Chickens Out': Hear His Response To Wall Street's '
Taco
' Trade Strategy
Economists say Wall Street just experienced a "TACO" Tuesday, but it had nothing to do with tortillas or salsa. Traders and other stock market watchers have been discussing what's called the "TACO" trade strategy. TACO is an acronym that stands for "Trump Always Chickens Out," a reference to President Donald Trump's constantly changing tariff threats and retreats. Financial Times columnist Robert Armstrong has been widely credited with creating the TACO nickname earlier in May. "The recent rally has a lot to do with markets realising that the US administration does not have a very hig…
Simsbury, CT
News
Covid-
19: Strain Behind New China Surge Now Surfacing In US, CDC Says
A new strain of COVID-19 gaining traction overseas is now being detected in the United States, according to health officials tracking the virus. Click here for a new, updated story: COVID-19: Here Are Symptoms Of New Variant Sparking China Surge Now Surfacing In US Airport screenings have identified cases of the NB.1.8.1 variant — the same strain linked to a surge in infections in China — among international travelers arriving in several US states, CBS News reports. The variant has been found in passengers tested at airports in the New York City area, California, Virginia, and Washington…
Arlington, VA
Business
Trump Reignites Trade War With EU, Threatens Apple With iPhone Tariffs
President Donald Trump issued new tariff threats against the European Union and Apple, relaunching trade feuds that have shaken the US economy throughout 2025. Trump threatened the EU with a 50% tariff in a post on his social media platform Truth Social on Friday, May 23. He claimed the higher duties would go into effect on Sunday, June 1. The President accused the EU of being "difficult to deal with" in trade negotiations. "Our discussions with them are going nowhere!" Trump posted. "Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There …
Fairfield, CT
Business
Trump Tells Walmart to ‘Eat the Tariffs’ After CEO Says Price Hike Coming
Two days after America’s largest retailer, Walmart, said it would raise prices to cover the cost of President Donald Trump’s tariffs, the president responded with a three-word retort: “Eat the tariffs.” In an earnings call on Thursday, May 15, Walmart CEO Doug McMillon told investors that the company would likely need to increase prices on groceries and general merchandise, despite a 2.5 percent increase in first-quarter earnings for 2025. “We will do our best to keep our prices as low as possible,” he said, according to MarketWatch. “But given the magnitude of the tariffs, even at the redu…
Arlington, VA
Real Estate
Spring Housing Market Slumps Under Trump's Tariffs, Builders Warn
Homebuilders are warning about a slow spring due to President Donald Trump's sweeping tariffs and high interest rates, according to a new survey. Builder confidence dropped sharply in May, falling to 34 on the National Association of Home Builders/Wells Fargo Housing Market Index released on Thursday, May 15. That's down six points from April, matching the low from November 2023 and marking the worst reading since December 2022. In the Northeast, sentiment slipped three points to 44 on a three-month moving average. A score above 50 means more builders see conditions as good than p…
Hartford, CT
Business
Walmart Raising Prices Due To Trump's Tariffs, CEO Says: Here's What's More Expensive
Executives at Walmart are warning that the retail giant will raise prices on many everyday items due to President Donald Trump's sweeping tariffs. Walmart will hike the costs of many grocery items and general merchandise, CEO Doug McMillon said during an earnings call on Thursday, May 15. The announcement comes as Walmart's revenue rose 2.5% in the first quarter of 2025. McMillon said the chain can't swallow the greater costs caused by Trump's tariffs. "We're positioned to manage the cost pressure from tariffs as well or better than anyone, but even at the reduced levels, the hig…
Arlington, VA
Business
Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says
April's retail sales flatlined as Americans pulled back on spending, the latest sign that trade tensions under President Donald Trump's tariffs are taking a toll on the US economy. Total retail and food service sales rose just 0.1% in April, compared to March's 1.7% surge, the U.S. Census Bureau said on Thursday, May 15. April's monthly gain was within the margin of error (+/- 0.5%), suggesting no meaningful growth. From February to April, total sales rose 4.8% compared to the same period in 2024. The healthy gains appear to be slowing down after consumers rushed in February and March …
Arlington, VA
Business
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook
Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.2% from March, the Bureau of Labor Statistics said on Tuesday, May 13. Consumer prices rose 2.3% from April 2024, the smallest yearly inflation since February 2021. The annual inflation number was slightly below the 2.4% Dow Jones forecast, CNBC reported. Wall Street didn't react much to the consumer price index (CPI) data, with stocks and Treasury yields staying relatively unchanged when …
Simsbury, CT
Business
Apple Could Be Raising iPhone Prices Soon, Report Says
Apple is considering a price increase for its new iPhone models scheduled for release this fall, according to a brand-new report. The price hike would coincide with anticipated enhancements in features and design modifications, The Wall Street Journal reports. Sources familiar with the matter indicate that the technology giant is strategically evaluating this move to ensure it aligns with the launch of new, ultra-thin designs, The Journal reported. The company is distancing itself from any direct association between the potential price hikes and the ongoing US tariffs on Chinese imports, …
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