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Yahoo
7 hours ago
- Business
- Yahoo
White House says Trump will double tariffs on steel, aluminum tomorrow
WASHINGTON — White House press secretary Karoline Leavitt says President Donald Trump will double steel and aluminum tariffs on Wednesday. As Canadian officials were preparing for meetings in Washington on Tuesday, Leavitt said Trump would sign an executive order to increase the duties to 50 per cent later in the day. In March, Trump imposed 25 per cent tariffs on steel and aluminum imports to the United States. Trump announced his intention to double the duties at a steel plant on Friday. 'He made that announcement in Pennsylvania and he plans to deliver on that promise to Pennsylvania," Leavitt said when asked whether there would be exemptions during Tuesday's media briefing. Elsewhere in Washington, Canada-U.S. Trade Minister Dominic LeBlanc was joined by Kirsten Hillman, Canada's ambassador to the United States, in a meeting with U.S. Commerce Secretary Howard Lutnick later on Tuesday. Canadian industries have said the tariffs will have a devastating impact and have called on Ottawa to provide support. Canada is the largest steel supplier to the United States, accounting for nearly 25 per cent of all imports in 2023. About a quarter of all steel used in America is imported. On May 30, Bea Bruske, president of the Canadian Labour Congress, called Trump's plan to double steel and aluminum tariffs "yet another direct attack on Canadian workers and a reckless move that will send shock waves across the Canadian economy." "This decision will shut us out of the U.S. market completely, devastating Canada's steel and aluminum industry and threatening thousands of good-paying, unionized Canadian jobs," Bruske said. Economists have said the higher tariffs could lead to significant cost increases for Americans. The government's producer price index found the price of steel products has gone up roughly 16 per cent since Trump implemented the tariffs. Trump imposed 25 per cent steel tariffs and 10 per cent aluminum levies during his first administration for about a year. The Washington-based Tax Foundation reported that during that period, companies were forced to pay higher prices and the duties resulted in the loss of about 75,000 manufacturing jobs. The Peterson Institute for International Economics found that each job saved in steel-producing industries by the tariffs came at a high cost to consumers — roughly $650,000 per job. This report by The Canadian Press was first published June 3, 2025. Kelly Geraldine Malone, The Canadian Press Sign in to access your portfolio
Yahoo
13 hours ago
- Automotive
- Yahoo
Proposed new auto loan tax deduction could help buyers get break on interest
If taxpayers actually end up seeing a new, proposed tax break on the interest borrowers pay on car loans, at least some can claim it all started in the Motor City. President Donald Trump, who was running for his second term last year, dropped that car loan bombshell during his comments at the Detroit Economic Club on Oct. 10, 2024, less than a month before the presidential election. Trump said then that he planned to propose making interest on car loans fully deductible. Now, we're getting more of the details for what such a deduction could look like based on what was tucked into the broad tax plan released by House Republicans on May 12. The White House calls the proposed legislation "One, big, beautiful bill." If you're looking to buy one, big, beautiful SUV or truck or car, pay attention to the haggling in Washington to see whether a new deduction on car loans will become a reality. The good news: The GOP bill calls for an above-the-line deduction of up to $10,000 in car loan interest during a given taxable year. You'd pay no tax on that interest, if you qualified. Creating an above-the-line deduction means that the proposed tax break on car loan interest would not just apply to the roughly 10% of taxpayers who itemize deductions. It also would apply to the vast majority of people who do not itemize and instead claim the standard deduction. The standard deduction became far more prevalent after the major tax changes in the Tax Cuts and Jobs Act of 2017 — the Trump tax cut initiative that expires at the end of 2025. Trump is seeking to extend those tax cuts that are set to expire later this year. The so-so news: All new car and truck buyers who take out a car loan won't qualify for the deduction. Much will depend on your income — and the car or truck that you buy. Under the plan, House Republicans are calling for making the auto loan interest deduction limited to $10,000. But the deduction would phase out by $200 for every $1,000 of modified adjusted gross income above $100,000 for single filers and $200,000 for joint filers, according to an analysis by the Tax Foundation, a nonprofit research organization. As a result, a single person with $149,001 in income or more would not receive any deduction, according to Mark Luscombe, principal analyst for Wolters Kluwer Tax & Accounting in Riverwoods, Illinois. The deduction phases out entirely, based on his calculations, for a married couple making $249,001 or more. More personal finance: Restart of student debt collections expected to trigger more student loan scams The auto loan interest deduction would be temporary under the GOP plan, and it would apply to auto loans that are taken out in 2025, 2026, 2027 and 2028. If you took out a five-year car loan in 2027, for example, you could only expect two years for a deduction on your car loan interest to apply at this point. The wording of the bill indicates that you would only get the deduction for those specified four years, Luscombe said. Again, the tax rule has yet to be approved, so don't bank on that tax deduction just yet. We're talking about a tax break for buyers of qualified passenger vehicles that are "manufactured primarily for use on public streets, roads, and highways," according to the House Ways and Means Committee section-by-section breakdown of the bill. The vehicle could be a car, minivan, van, sport utility vehicle, pickup truck or even a motorcycle. An applicable passenger vehicle for the tax break also would include all-terrain vehicles and recreational vehicles, if their final assembly took place in the United States. The tax break would apply only to auto loans that were taken out to buy cars or trucks that have their final assembly in the United States. It's debatable at this point whether the tax break would apply to both new car loans, as well as used car loans. The language in a Ways and Means Committee states: "No tax on car loan interest." It does not specify if that applies only to car loans taken out by a consumer to buy a new car. It also does not state whether a car loan for buying a used car would apply. Luscombe said it's not clear what the odds are yet for Congress to pass a car loan deduction or even a deduction with the same rules outlined in the Ways and Means bill. Bills were introduced in both the House and the Senate that focused on the auto loan interest deduction. Detroit Free Press Washington correspondent Todd Spangler reported about one bill by U.S. Rep. Bill Huizenga, which is dubbed the "Made in America Motors Act." Huizenga, R-Holland Township, introduced that legislation May 7, which would allow a deduction of up to $2,500 in a given year for interest paid on a loan to buy a motor vehicle if it was built in the United States. The differences in various bills are likely to emerge and be debated in the coming weeks. "Any provision is likely to be weighed in terms of its impact on the overall budget numbers in trying to make the overall bill meet the budget requirements," Luscombe said. A key point to understand: Your entire monthly car payment would not be fully deductible. If you're paying $834 a month for your car loan, you're not looking at a $10,000 a year deduction. Jonathan Smoke, chief economist for Cox Automotive, said consumers need to understand that car loans are amortized so that each payment covers interest and principal. You're not paying the same amount of interest each year on your car loan. More of your payment goes to cover interest, Smoke said, in the first years of the loan. Therefore, the maximum tax deduction would be in year one and then it would get smaller in future years. Let's assume an interest rate of 9.5% on a six-year car loan. On a $42,000 car loan in this example, the borrower would pay $768 a month. The first year of interest would add up to a bit more than $3,750 in this example. For someone at a tax rate of 24%, that deduction would reduce taxes by roughly $900. But it's important to note that the deduction would decline in subsequent years of that car loan. It's also key to note the dollar value of the deduction would be bigger for someone who makes more money and pays a higher tax rate. It would be smaller for someone who earns less money and pays a lower tax rate. Ivan Drury, director of insights at Edmunds, said interest over the life of a loan is often overlooked as consumers become focused on monthly payment. Interest rates have hovered around 7% for the last two years, he said, and the amount financed has been at or slightly above $40,000. As a result, consumers are paying nearly double the amount of interest that they had in previous years. "While a tax deduction won't wash away all of the increased costs associated with purchasing a new car in today's age, it will certainly dull the edge," Drury said. If the legislation is approved by Congress, consumers would need to pay attention to the interest rate they're paying, Drury said, especially since this deduction wouldn't be available across the board or even on some models where different trim levels are assembled outside of the United States. Another obvious but essential point: You'd need to qualify for a car loan to be able to take advantage of this tax break. Increasingly, experts warn more consumers are experiencing financial fragility, struggling to manage their money and their debt. Many consumers now expect that it will be far tougher to find an affordable car loan and many fear rejections in obtaining credit, according to a survey related to credit access by the Federal Reserve Bank of New York. The survey takes into account what it calls "discouraged borrowers" or those respondents who stated they did not apply for any credit in the past 12 months because they did not think they would get approved, despite reporting a need to borrow. Those discouraged borrowers reached 8.5% in the February survey, the highest level since the start of the survey in October 2013. For auto loan applications, the survey noted, the average perceived probability of a rejection reached 33.5%, the highest level since the start of the series. Cox Automotive's research indicated that consumers saw credit access dip in April, particularly for those with lower credit scores. "Lenders were more cautious about extending credit to higher-risk borrowers," according to Cox Automotive. A variety of issues could dampen someone's ability to buy a car this year or next — loss of a job, fear of losing a job, a credit score that was dinged in 2025 by nonpayment of student loans. Credit scores for student loan borrowers started getting hit again this year, as delinquencies resumed appearing on credit scores. High car prices and high interest rates on car loans are another issue that can cause someone to put off buying a car or truck. Higher tariffs on many cars will drive up prices, too. Ford Motor Co., for example, raised prices in May on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport, which are built in Mexico. Prices increased by as much as $2,000 on some models, as first reported by Reuters. In addition, many drivers owe more than their current car is worth, given the high prices they paid during the pandemic and used car values now, cutting into the potential trade-in value. The expectation is that U.S. car and light truck sales will fall behind last year's red-hot run when it comes to sales in 2025, 2026 and 2027, according to a forecast issued in May by University of Michigan economists. Right now, U-M economists expect U.S. passenger vehicle sales to drop sharply later this year, from an annual pace of 16.4 million in the first quarter of 2025 to 14.8 million in the third quarter once the tariffs on vehicle imports drive up prices for new cars and trucks. So, a tax break on the interest you pay each year on your car loan certainly could rev up an industry facing plenty of challenges. Free Press Washington correspondent Todd Spangler contributed to this report. Contact personal finance columnist Susan Tompor: stompor@ Follow her on X @tompor. This article originally appeared on Detroit Free Press: Proposed car loan interest tax deduction: Who would qualify
Yahoo
a day ago
- Business
- Yahoo
Where in Europe are workers losing ground as taxes rise faster than wages?
Among the 27 European countries covered in the OECD's Taxing Wages 2025 report, seven recorded a decline in real post-tax income in 2024 compared to 2023 for the average single worker without children. This measure reflects the amount of money left to spend or save after taxes are deducted and inflation is taken into account. The countries affected were Italy, Estonia, Czechia, France, Greece, Belgium, and Spain. In Italy, the average wage increased by 3.9% in 2024. With inflation at 1.2%, this translated to a real wage growth of 2.7% before taxes. However, the personal average tax rate—which includes both personal income tax and employee social security contributions—rose sharply by 7.5%. This created a significant gap between real wage growth and the increase in personal taxation, ultimately eroding much of the benefit from higher wages. Cristina Enache, global tax economist at the Tax Foundation, emphasised the impact of increased social security contributions. While this highlights a growing gap between wages and taxation, it doesn't directly reveal how much real post-tax income changed. Personal average tax rates also increased by more than 4.5% in Estonia and Czechia, leading to lower real post-tax incomes in 2024, as real wage growth did not keep pace. Enache of the Tax Foundation noted that in Estonia, the tax burden rise was driven by the removal of certain tax allowances. In Czechia, the increase was primarily due to higher social security contributions from either employees or employers. In France, real wages grew by 0.7%, but the personal average tax rate increased by 1.7%, resulting in lower real post-tax incomes compared to 2023. During this period, Portugal, the UK, and Turkey recorded the highest increases in real post-tax incomes. In Portugal, the personal average tax rate fell by 8%, while real wages grew by 4.7%. 'Portugal reduced its income tax rates for the first six tax brackets, reducing the overall tax wedge for the average income earner,' Cristina Enache told Euronews. In the UK, the average tax rate dropped by 8.7%, although real wage growth was modest at 1.6%. In Turkey, despite a 3.9% increase in the personal average tax rate, a substantial 15.5% rise in real wages led to significantly higher real post-tax incomes in 2024 compared to 2023. However, some critics have accused the national statistical office of manipulating inflation figures. Cristina Enache explained that "real post-tax income" refers to the income a person takes home after taxes, adjusted for inflation. 'A lower real post-tax income means that after taxes and inflation, the individual has less money to spend. Therefore, a decrease in the real post-tax income between 2023 and 2024 means that the worker earning the average wage is losing purchasing power,' she said. 'Bracket creep' occurs when income growth causes individuals to pay higher average income tax rates over time. This typically happens when inflation pushes taxpayers into higher tax brackets or erodes the value of tax credits, deductions, and exemptions. According to the Tax Foundation, 'bracket creep' leads to higher income taxes without any real increase in income. 'Indexing the income tax (and, depending on the design, the social security contributions) to inflation would avoid bracket creep and could mitigate the decrease in real post-tax income for workers,' Enache pointed out. The Euronews article titled 'Where did real wages rise and fall the most in Europe in 2024?' takes a closer look at how wages changed compared to 2023—examining nominal increases, inflation, real wage growth, and average salaries. Sign in to access your portfolio
Euronews
a day ago
- Business
- Euronews
Which European countries are seeing taxes outpace real wage growth?
Among the 27 European countries covered in the OECD's Taxing Wages 2025 report, seven recorded a decline in real post-tax income in 2024 compared to 2023 for the average single worker without children. This measure reflects the amount of money left to spend or save after taxes are deducted and inflation is taken into account. The countries affected were Italy, Estonia, Czechia, France, Greece, Belgium, and Spain. In Italy, the average wage increased by 3.9% in 2024. With inflation at 1.2%, this translated to a real wage growth of 2.7% before taxes. However, the personal average tax rate—which includes both personal income tax and employee social security contributions—rose sharply by 7.5%. This created a significant gap between real wage growth and the increase in personal taxation, ultimately eroding much of the benefit from higher wages. Cristina Enache, global tax economist at the Tax Foundation, emphasised the impact of increased social security contributions. While this highlights a growing gap between wages and taxation, it doesn't directly reveal how much real post-tax income changed. Personal average tax rates also increased by more than 4.5% in Estonia and Czechia, leading to lower real post-tax incomes in 2024, as real wage growth did not keep pace. Enache of the Tax Foundation noted that in Estonia, the tax burden rise was driven by the removal of certain tax allowances. In Czechia, the increase was primarily due to higher social security contributions from either employees or employers. In France, real wages grew by 0.7%, but the personal average tax rate increased by 1.7%, resulting in lower real post-tax incomes compared to 2023. During this period, Portugal, the UK, and Turkey recorded the highest increases in real post-tax incomes. In Portugal, the personal average tax rate fell by 8%, while real wages grew by 4.7%. 'Portugal reduced its income tax rates for the first six tax brackets, reducing the overall tax wedge for the average income earner,' Cristina Enache told Euronews. In the UK, the average tax rate dropped by 8.7%, although real wage growth was modest at 1.6%. In Turkey, despite a 3.9% increase in the personal average tax rate, a substantial 15.5% rise in real wages led to significantly higher real post-tax incomes in 2024 compared to 2023. However, some critics have accused the national statistical office of manipulating inflation figures. Cristina Enache explained that "real post-tax income" refers to the income a person takes home after taxes, adjusted for inflation. 'A lower real post-tax income means that after taxes and inflation, the individual has less money to spend. Therefore, a decrease in the real post-tax income between 2023 and 2024 means that the worker earning the average wage is losing purchasing power,' she said. 'Bracket creep' occurs when income growth causes individuals to pay higher average income tax rates over time. This typically happens when inflation pushes taxpayers into higher tax brackets or erodes the value of tax credits, deductions, and exemptions. According to the Tax Foundation, 'bracket creep' leads to higher income taxes without any real increase in income. 'Indexing the income tax (and, depending on the design, the social security contributions) to inflation would avoid bracket creep and could mitigate the decrease in real post-tax income for workers,' Enache pointed out. The Euronews article titled 'Where did real wages rise and fall the most in Europe in 2024?' takes a closer look at how wages changed compared to 2023—examining nominal increases, inflation, real wage growth, and average salaries. The HCOB Eurozone Manufacturing PMI for May 2025 was 49.4, up from 49.0 in April, according to S&P Global. However, this is still in contraction territory, as it was below 50, and marked the slowest pace of contraction in the manufacturing sector since August 2022. Meanwhile, output rose for the third month in a row, with new orders stabilising after almost three years of decline. The rate of backlog depletion also dropped to the slowest pace since June 2022. On the other hand, employment levels continued to lag, although they decreased at the slowest rate since September 2023. Input costs fell for the second consecutive month, which was the fastest decline in 14 months, while output prices slid for the first time since February this year. Business confidence rose to the highest level in more than three years in May. Dr. Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in the May Eurozone PMI report: 'The upward trend in the headline PMI is still continuing, pointing towards a recovery that is progressing. That is backed up by the rise in production we have seen since March. 'What is especially encouraging is that production has picked up across all four major eurozone economies, which really highlights how broad-based this recovery is. With output rising for three months in a row, historical patterns suggest there is a 72% chance we will see another increase in the next month.' However, he highlighted that the possibility of the US imposing steeper tariffs against the EU is a major risk to this outlook. 'Still, companies are noticeably more upbeat than they were last month about producing more a year from now, which shows a certain resilience, even in the face of potential protectionist moves from across the Atlantic,' de la Rubia added. Falling oil and gas prices and lower interest rates supported the eurozone manufacturing sector in May, with production rising in France, Germany, Spain and Italy. The HCOB Spain manufacturing PMI for May was 50.5, a jump from April's 48.1, according to S&P Global. This was ahead of analyst expectations of 48.4. After three straight months of contraction, this was the first expansion in the Spanish manufacturing sector, while also being the highest number since January. May's higher figure could be because of underlying demand improving slightly. While uncertainties affected the sector significantly in April, the market seemed to readjust a little in May. Spanish manufacturing sales volumes fell in May, however, the decline was the smallest in four months. Companies continued to hire for the third consecutive month, while input costs fell for the first time since the beginning of last year. Output prices also dropped at the fastest rate since September 2024, mainly due to higher market competition. Similarly, output sentiment for the next 12 months rose to a three-month high. Jonas Feldhusen, junior economist at Hamburg Commercial Bank, said in the May Spain PMI report: 'Spain's manufacturing sector sent encouraging signals in May. Whether this improvement is partly attributable to early signs of easing in the global tariff conflict remains uncertain. 'While Spain's direct dependence on the U.S. market is relatively limited compared to countries like Germany or Italy, indirect effects from a generally improved global trade outlook may also be contributing.' The HCOB Germany manufacturing PMI for May came down to 48.3, down from April's 48.4, according to S&P Global. This was the 35th month in a row of contraction in the German manufacturing sector, although output advanced for the third month in a row. Manufacturing output was mainly supported by rising export orders from the US and Europe, although overall new orders still fell marginally, dampened by lagging domestic demand. Job cuts slowed to the weakest pace since January 2024, with input stock declines and purchasing activity decreases also slowing. Input prices continued to fall, dragged down by lower oil prices, lagging demand and a stronger euro. Robust competition led to more factory gate price cuts in May, while optimism about future output soared to the highest level since early 2022. Dr. Cyrus de la Rubia noted in the May Germany PMI report: 'Most people have got so used to gloomy headlines from the industrial sector that the good news often slips under the radar. That is why it is worth looking beyond the headline PMI figure, which dipped slightly and is still in contraction territory. The broader picture actually shows some encouraging signs. 'Production has now increased for the third month in a row, and foreign orders have been on the rise for two straight months. What's more, the uptick in output is not limited to just one area – it is showing up across the board, in capital goods, intermediate goods and consumer goods.' He further noted that business sentiment may be optimistic due to the formation of a new government, along with a large infrastructure package, the promise of tax breaks and plans to increase defence spending.
Yahoo
2 days ago
- Business
- Yahoo
Trump tariffs face threat at Supreme Court — over rulings that blocked Biden
(Bloomberg) — A legal argument that the US Supreme Court used to foil Joe Biden on climate change and student debt now looms as a threat to President Donald Trump's sweeping tariffs. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months During Biden's presidency, the court's conservative majority ruled that federal agencies can't decide sweeping political and economic matters without clear congressional authorization. That blocked the Environmental Protection Agency from setting deep limits on power-plant pollution and the Education Department from slashing student loans for 40 million people. The concept — known as the 'major questions doctrine' — is now playing a central role in the case against Trump's unilateral imposition of worldwide import taxes. With Supreme Court review all but inevitable, the justices' willingness to employ the doctrine against Trump may determine the fate of his signature economic initiative. The US Court of International Trade cited the Biden-era rulings and the major questions doctrine when it ruled 3-0 last week that many of Trump's import taxes exceeded the authority Congress had given him. The challenged tariffs would total an estimated $1.4 trillion over the next decade, according to the nonpartisan Tax Foundation. Critics say the administration's tariffs would have an even bigger impact than the estimated $400 billion Biden student-loan package, which Chief Justice John Roberts described as having 'staggering' significance in his 2023 opinion invalidating the plan. 'If this is not a major question, then I don't know what is,' said Ilya Somin, a professor at George Mason University's Antonin Scalia Law School and one of the lawyers challenging the tariffs. 'We're talking about the biggest trade war since the Great Depression.' Until they were partly suspended, Trump's April 2 'Liberation Day' tariffs marked the biggest increase in import taxes pushed by the US since the 1930 Smoot-Hawley tariffs and took the US's average applied tariff rate to its highest level in more than a century. The prospect of that massive tax increase and the resulting economic shock roiled financial markets and prompted fears of imminent recessions in the US and other major global economies. The administration contends the major questions doctrine doesn't apply when Congress gives authority directly to the president, rather than to an administrative agency. The government also says the doctrine is inapt when the subject is national security and foreign affairs – policy areas where the president has long been recognized to have broad powers. 'No one doubts the significance of the challenged tariffs, but significance alone does not implicate the major questions doctrine, otherwise, it would apply to countless government actions, including every emergency statute,' the Justice Department said in a filing at the Court of International Trade. The legal clash centers on Trump's power under the 1977 International Emergency Economic Powers Act, which says the president may 'regulate' the 'importation' of property to address an emergency situation. The Court of International Trade said those words weren't clear enough to legally justify Trump's taxes given that the Constitution gives the tariff power to Congress. In addition to major questions, the panel also invoked the nondelegation doctrine, a related conservative-backed legal theory that says lawmakers can't give away their constitutional legislative and taxing powers. The two doctrines together 'provide useful tools for the court to interpret statutes so as to avoid constitutional problems,' the trade court said. 'These tools indicate that an unlimited delegation of tariff authority would constitute an improper abdication of legislative power to another branch of government.' The ruling is now on temporary hold while a federal appeals court considers whether to keep the tariffs in force as the legal fight continues. So far, the major questions doctrine has divided the Supreme Court cleanly along ideological lines. The six conservative justices were united when the court first used the phrase in a 2022 ruling that said the EPA overstepped its authority with an ambitious emissions-reduction program during Barack Obama's presidency. The majority said it was doing nothing new by subjecting the plan to extra-tough scrutiny. 'We 'typically greet' assertions of 'extravagant statutory power over the national economy' with 'skepticism,'' Roberts wrote, borrowing words from a 2014 ruling. Roberts said the court used similar reasoning, though without the 'major questions' label, when it blocked Biden's pandemic eviction moratorium and his vaccine-or-test mandate for workers. The court's liberals accused their conservative colleagues of creating a convenient exception to their usual laserlike focus on statutory text. 'The current court is textualist only when being so suits it,' Justice Elena Kagan said in dissent in the climate case. 'When that method would frustrate broader goals, special canons like the 'major questions doctrine' magically appear as get-out-of-text-free cards.' The sharp ideological divide masks a more subtle split among the court's conservatives about the purpose of the major questions doctrine. Justice Amy Coney Barrett has described it as a tool for ascertaining the most natural reading of a statute, while Justice Neil Gorsuch has cast it as a means of keeping Congress and the president in their proper constitutional lanes. The key question now is what the court will do with the major questions doctrine when it comes in the context of tariffs and a Republican president who appointed three of the justices. 'The court has not been at all transparent about the grounds on which it will invoke this doctrine,' said Ronald Levin, an administrative law professor at Washington University in St. Louis. 'It's left its options completely open.' —With assistance from Shawn Donnan. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P. Sign in to access your portfolio
