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Gulf Today
24-05-2025
- Business
- Gulf Today
The hidden moral cost of America's tariff crisis
In the spring of 2025, as American families struggle with unprecedented consumer costs, we find ourselves at a point of "moral reckoning." The latest data from the Yale Budget Lab reveals that tariff policies have driven consumer prices up by 2.9% in the short term. In comparison, the Penn Wharton Budget Model projects a staggering 6% reduction in long-term GDP and a 5% decline in wages. But these numbers, stark as they are, tell only part of the story. The actual narrative is one of moral choice and democratic values. Eddie Glaude describes this way in his book 'Democracy in Black': Our economic policies must be viewed through the lens of ethical significance — not just market efficiency. When we examine the tariff regime's impact on American communities, we see economic data points and a fundamental challenge to our democratic principles of equity and justice. Far too often, the burden of such policies falls disproportionately on those who are least able to bear it. Black Enterprise reports that Black-owned businesses face a dual challenge: economic survival and preserving their role as community anchors. The average American household is preparing to shoulder an additional $3,800 annual costs. Still, this figure masks a more profound inequity — BIPOC communities and working-class families spend a higher percentage of their income on consumer goods, meaning they bear a disproportionate share of the tariff burden. The state of our economic solvency is particularly crucial because it intersects with a concept known as the 'value gap." The value gap is a premise that white(ness) lives are valued more than others, which Gluade argues remains embedded in our economic and legislative policies. Trump's enacted tariffs' disparate impact on ethnic and uniquely diverse-owned businesses isn't merely coincidental; it reflects more profound structural inequities in our financial system. Small businesses, particularly those in marginalized communities, face existential threats. According to Small Business Majority, 53% of small companies are concerned about tariffs' negative impacts. These aren't just statistics — they represent community pillars, generational wealth builders, and engines of local economic mobility. Adherence to a moral imperative requires us to move beyond purely economic calculations. It invites deeply reflective and prophetic questioning of ourselves and our systems. We must ask: What kind of society do we wish to be? How do our trade policies reflect our values? The answer lies not in protectionist rhetoric but in "democratic practices" — policies that strengthen communities rather than fracture them. Many economists forecast that 72% of small businesses anticipate higher prices; we are not just seeing market dynamics at work. The country is witnessing the erosion of community resilience, the narrowing of economic opportunity, and the weakening of social bonds that sustain democratic life. Finding sound solutions requires reimagining our economic policies through a moral lens and prioritizing equity and community well-being. Hence, developing trade policies that: * Recognize the interconnected nature of economic justice and democratic health * Account for disparate impacts on marginalized communities * Support rather than undermine local economic ecosystems * Prioritise long-term community stability over short-term political gains The potential impact of the proposed tariff on US communities and consumers could not result in economic consequences. Such tariffs bring to bear a moral crisis that demands a response grounded in principled and practical solutions. Pathways forward are possible with increased economic adjustments; they fundamentally rethink how we value community, equity, and democratic participation in financial decisions. A democracy's economy ought to be more than just market efficiency. It should be morally courageous and committed to shared prosperity. Fierce debate over Trump-era tariffs transcends mere spreadsheets and GDP calculations. It is not an argument about trade deficits or quarterly economic indicators — it's a mirror reflecting our national identity and core values. When leaders indiscriminately slap tariffs on steel from Canada or solar panels from China, we're not just adjusting numbers on a balance sheet but making profound statements about how we view our place in the global community. Unfortunately, protectionist policies often hit hardest in unexpected places: the main street's mom & pop shops, rural American manufacturers who can't afford higher material costs, the local farmer watching crops rot because their usual markets have vanished, or the single parent facing steeper prices at the grocery store. Instead of retreating behind economic walls, policies that match the complexity of our times are essential — policies that protect American workers while staying true to our traditions of innovation, fair play, and economic opportunity for all. We are left to choose between continuing in a direction that exacerbates economic inequality and community fragmentation or embracing a vision of monetary policy as a moral practice that strengthens our democratic fabric while ensuring no community bears an unjust burden in our pursuit of economic security.
Black America Web
19-05-2025
- Business
- Black America Web
Black Women Lost 106,000 Jobs In April—But The Impact Goes Beyond Headlines
Source: Igor Suka / Getty Big shifts are happening in the job market right now. And if you're a Black woman, the latest numbers may hit a little harder—and a lot closer to home. According to the U.S. Bureau of Labor Statistics, Black women lost 106,000 jobs in April 2025. That's more than any other group. Meanwhile, the national unemployment rate stayed steady at 4.2% and over 170,000 jobs were added across the country. So while the economy is technically 'growing,' many of us are being left out of the picture. The Numbers Don't Lie—But They Don't Tell the Full Story Either Our unemployment rate jumped from 5.1% to 6.1% in one month. That's the biggest increase across race and gender lines. And for a lot of us, it's not just a stat—it's a stressor. These aren't just random jobs. These are careers. Livelihoods. Stability. We're talking about Black women who've been showing up every day—working in schools, hospitals, government offices, behind the scenes and on the front lines. Women with degrees, certifications, and years of experience. Women who are raising kids, paying off loans, helping aging parents, and keeping whole families afloat. So what changed? A big part of the story is what's happening with federal jobs. These roles have long been a backbone for Black families—offering good pay, solid benefits, and room to grow. But between January and April, 26,000 federal jobs were cut. That includes 9,000 in April alone. And while those numbers might seem like just a shift in hiring, there's more behind it. Diversity, Equity, and Inclusion (DEI) roles are being rolled back across agencies and corporations. Executive orders are chipping away at the kind of policies that once gave Black women a fair(er) shot. Further, many DEI roles once held by Black women are vanishing – and with little accountability. The playing field is shifting—again—and it's not in our favor. Economist William Michael Cunningham didn't hold back when speaking to Black Enterprise . 'The unusual nature of this increase in Black women's unemployment is a testament to and a direct result of the anti-DEI and anti-Black focus of the new administration's policies,' he said. RELATED: Opinion: Donald Trump's Reelection Proves That America Hates Black Women Source: VioletaStoimenova / Getty When Black women lose jobs, it doesn't happen in a vacuum. It means less income circulating in our communities. It means more stress on households that already carry so much. Black women are often the primary earners, the caretakers, the backbones. So when we're pushed out of the workforce, everything around us feels that ripple. So yeah, these numbers are more than statistics on a spreadsheet. Let them be a reality check for all of us to what may be ahead. And we'll be watching. SEE ALSO Black Women Lost 106,000 Jobs In April—But The Impact Goes Beyond Headlines was originally published on Black America Web Featured Video CLOSE
Mint
07-05-2025
- Entertainment
- Mint
GIANT 12-feet bronze statue of black woman installed in New York's Times Square. It's called ‘Grounded in the Stars'
A massive 12-feet bronze statue of a black woman has been erected at the bustling Times Square in New York City, and will be on display till June 17, 2025. Created by Thomas J Price, the artwork is titled 'Grounded in the Stars' and has been installed at the Broadway & 46th Street, according to the Times Square website. The installation, according to the site, is part of Times Square Arts Projects, and was erected on April 29, 2025. According to a Black Enterprise report, Price aimed to 'encapsulate the observations, images and open calls of New York, Los Angeles, and London'. The report calls the news installation as a 'subtle nod to Michelangelo's David and captures familiar everyday qualities through the woman's stance, countenance, and clothing'. 'I hope Grounded in the Stars and Man Series will instigate meaningful connections and bind intimate emotional states that allow for deeper reflection around the human condition and greater cultural diversity,' the report quoted the London-based figurative artist as saying. Price said that the intention of his public works is to become part of the place they inhabit and its physical, material history, as well as the visitors 'that pass through and around the location, no matter how fleeting'. A 45-foot naked steel statue of a woman – weighing around 32,000 pounds – was installed in San Francisco, US, on April 10 and is set to remain in place for at least six months, with the possibility of an extension up to one year. The work, R-Evolution, is meant to symbolise female empowerment and strength, Independent reported. The artist behind the masterpiece, Marco Cochrane, said in an interview with the San Francisco Recreation and Parks Agency, 'Women's presence in public art is rare. When they are depicted, it is often through outdated or passive narratives. R-Evolution challenges that. She stands strong, aware, and grounded—calling for a world where all people can walk freely and without fear.' R-Evolution is constructed from 55,000 welds of steel rod and tubing, with an additional 16,000 pounds of steel anchoring it securely. The sculpture features an internal mechanism that simulates breathing for one hour each day and is illuminated from within during the night.
CBS News
26-03-2025
- Business
- CBS News
Aris Singleton became CEO of TGIN beauty products at 28, and is a proud industry leader
Aris Singleton is at the top of her field as one of the youngest leaders in the beauty industry. Singleton is chief executive officer of the haircare line Thank God It's Natural, or simply TGIN . She is now 31, but became CEO at the age of 28. Singleton has national eyes on her, from an Oprah Daily Award to a place on Black Enterprise's "40 under 40" list. She is among the Chicago Defender's Women of Excellence. In 2023, a collector's edition of Jet Magazine was dedicated just to her. "I would say that's one of my biggest accomplishments," Singleton said. But Singleton will be the first to tell you her success is not a solo act. "I'm very grateful for my childhood and for my upbringing," she said. "I believe that is why I am successful today." Singleton grew up on the East Side of Detroit, Michigan. Even as a little girl, she was interested in big business. "I was always in some sort of business program. My mother had me learning about stocks on the weekends," Singleton said. "My mom was actually an educator, but she always had a business mindset." When Singleton was a teenager, her aunt Chris-Tia Donaldson, a Harvard lawyer, created TGIN. It grew largely out of Donaldson's struggle as a Black woman whose hair did not look like everyone else's in the corporate world. "In the law field back in the early 2000s, it was not acceptable to wear your air in its natural state," Singleton said. "Our hair is an expression, It is a part of who we are, our identity. So when you tell a woman that you can't wear your hair curly, you can't wear your hair this way, you are taking her identity away from her — and it shouldn't be." The natural hair movement was beginning, and the company was taking off. TGIN products were now in now in big-box stores — Target, Walgreens, CVS, Ulta. After graduating with a finance degree from Texas Southern University, Singleton got a call that changed everything. "Chris-Tia said: 'I need you to come work for me for six months. I need you to come help out with operations and finance," Singleton said. "I was only supposed to be here for six months, and here I am eight years later." Singleton went to work in every aspect of TGIN. "I sat in HR, I sat in finance, operations, marketing, sales — I have done it all," she said. But nothing could prepare Singleton for the tragedy that was to come at that point. "I had just turned 28, and Chris-Tia passed not even two months after my 28th birthday," said Singleton. Chris-Tia Donaldson died of breast cancer in 2021 , at just 42 years old. "Losing Chris-Tia was devastating," said Singleton. "I was not expecting to lose her." But Singleton had lost more than an aunt. Donaldson was her role model in business — and life. "I always admired her drive. She never took no for an answer," Singleton said. "Chris-Tia was very much a go-getter, and really pushing the pushing the limit, testing the boundaries. But there was little time to grieve. Suddenly, Singleton was called on to become a CEO. "I had to pull it together," she said. "Payroll had to be done. Business still had to be taken care of. Having that responsibility dropped in your lap, it changes you — but for the better," she said. "I am a better leader, a better woman because of that situation." To this day, TGIN continues Donaldson's legacy. A look at the warehouse shows a growing product line. "We have shampoos, conditioners, oils, leave-in conditioners—and our new collection, the Miracle Styling collection, is more focused on styling," Singleton said. The company is still a family affair. Singleton's business-minded mother, Dr. Piper Farrell, is the chief operating officer. So what is it like working with a CEO daughter? "Honestly, it's fun. It's fun because, you know, for 30 years I was telling her what to do," said Farrell. "Now she thinks that, you know, because we're in business together, she could tell me what to do — but she can't." But in seriousness, Farrell is very proud. "To see this dynamic woman really take the reins of TGIN and lead it into the next generation is just phenomenal," she said. "I'm just impressed by the woman that she has become." The mother and daughter agree that TGIN is all about helping other women become their best in every way possible. "Looking great on the outside is great, but how can we go deeper?" Singleton said. "We are looking at the woman as a whole. How can we support and uplift women as a whole — not just your hair?" TGIN also operates a philanthropic arm — the TGIN Foundation . The late Donaldson created it in 2017 as she was battling breast cancer. The goal is to help women struggling with the disease by helping them get access to care, transportation, and emotional support.
