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President Donald Trump has demanded a Justice Department investigation into meatpacking companies he believes are driving up beef prices through illegal means. "I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation," Trump posted on Truth Social. "We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation's food supply. "Action must be taken immediately to...

In the most significant economic case to reach the Supreme Court in years, Trump’s authority to issue emergency tariffs faced deep skepticism from key conservatives — including Chief Justice John Roberts and Justices Amy Coney Barrett, Neil Gorsuch and Brett Kavanaugh. • While justices had tough questions for both sides, a majority expressed reservations about the administration relying on declared emergencies to issue the unchecked tariffs. • As plaintiffs presented their case, Kavanaugh repeatedly noted that courts had previously allowed then-President Richard Nixon to use similar emergency powers to impose tariffs during his administration. • Both sides previously framed the...

President Donald Trump’s tariffs will cost global businesses upward of $1.2 trillion in 2025, with most of the cost being passed onto consumers, according to a new analysis from S&P Global. In a white paper released Thursday, the firm said its estimate of additional expenses for companies is probably conservative. The price tag comes from information provided by some 15,000 sell-side analysts across 9,000 companies who contribute to S&P and its proprietary research indexes. “The sources of this trillion-dollar squeeze are broad. Tariffs and trade barriers act as taxes on supply chains and divert cash to governments; logistics delays and...

President Trump said his proposed 100% additional tariffs on goods from China were "not sustainable."

President Trump fired the Bureau of Labor Statistics commissioner last month because he didn’t like the monthly jobs numbers. He claimed the numbers were “rigged.” But Friday’s monthly report for August confirms that job creation has stalled amid his tariff barrage. Employers added a mere 22,000 jobs last month while the numbers were revised down for the previous two by a combined 21,000. This means only 107,000 new jobs were created in the last four months—an average of 27,000. Monthly job gains averaged 167,000 last year. Nearly all of the new jobs last month were in social assistance and healthcare...

SummaryShipping firms, port operators, retailers welcome progress Industry experts say 30% tariffs remain a risk for US consumers Shipping rates could rise with a cargo rush BERLIN/LOS ANGELES, May 12 (Reuters) - The container shipping industry on Monday welcomed an agreement between the United States and China to temporarily slash punishing tariffs, saying it expected to be buoyed by a resulting recovery in bookings from China to the U.S.The United States will cut extra tariffs it imposed on Chinese imports in April to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125% for the...

The White House says President Trump is “determined” to maintain at least a 10% tariff on all imports, meaning all nations should expect a baseline tax on their goods even if they negotiate trade pacts with the U.S. Dozens of trading partners are scrambling to negotiate down sky-high levies that Mr. Trump imposed, then paused, in early April. It’s a fluid process, but this much should be clear: Mr. Trump will only go so low.“The president is determined to continue with that 10% baseline tariff. I just spoke to him about it earlier,” White House press secretary Karoline Leavitt said...

House Speaker Mike Johnson (R-LA) backs President Donald Trump on tariffs, he made clear during an appearance at an Axios News Shapers event this week. Trump has the backing of Johnson, who said according to Axios that the tariffs “are working.” “I think the executive has a broad array of authority that’s been recognized over the years,” Johnson said. “If it gets close to where the imbalance is there, then we would step in.” However, if it came to that, Johnson said the first line of defense would be calling Trump directly. “But I think the first protocol, to be...

Amazing. Just amazing. The consummate Bidenomics simp and former New York Times columnist Paul Krugman is trying to make “Trumpflation” a thing in the public discourse. “Lies, Damned Lies and Trumpflation,” railed Krugman in his latest February 14 certifiable screed. What was hilarious was that the first five paragraphs of his piece literally had nothing to do with the economy aside from drumming up conspiracy theories about President Donald Trump’s Centers for Disease Control and Prevention potentially hiding data on the next hypothetical pandemic. Then came the kicker: “But while I’m not an epidemiologist, I do know something about inflation.”...