Latest news with #importtaxes
Yahoo
6 days ago
- Business
- Yahoo
Fed's Bostic: Recent data show price pressures may be building
WASHINGTON (Reuters) -Recent data on consumer inflation showed price pressures may be building in the wake of rising import taxes imposed by the Trump administration, Atlanta Fed president Raphael Bostic said on Wednesday. "We may be at an inflection point," Bostic said a day after data for June showed prices rising faster than the month before, with particularly large increases for some categories of heavily imported goods. "The headline number moved away from our target, not towards seen the highest increase in prices that we've seen all year." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 days ago
- Business
- Reuters
Fed's Bostic: Recent data show price pressures may be building
WASHINGTON, July 16 (Reuters) - Recent data on consumer inflation showed price pressures may be building in the wake of rising import taxes imposed by the Trump administration, Atlanta Fed president Raphael Bostic said on Wednesday. "We may be at an inflection point," Bostic said a day after data for June showed prices rising faster than the month before, with particularly large increases for some categories of heavily imported goods. "The headline number moved away from our target, not towards seen the highest increase in prices that we've seen all year."
Yahoo
6 days ago
- Business
- Yahoo
Fed's Bostic: Recent data show price pressures may be building
WASHINGTON (Reuters) -Recent data on consumer inflation showed price pressures may be building in the wake of rising import taxes imposed by the Trump administration, Atlanta Fed president Raphael Bostic said on Wednesday. "We may be at an inflection point," Bostic said a day after data for June showed prices rising faster than the month before, with particularly large increases for some categories of heavily imported goods. "The headline number moved away from our target, not towards seen the highest increase in prices that we've seen all year." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Trump Says He'll Send Tariff Letters to More Than 150 Countries
President Donald Trump said he would send letters to more than 150 countries notifying them of tariff rates as he pushes ahead with a trade agenda that has sent US partners racing to avoid higher import taxes. 'We'll have well, over 150 countries that we're just going to send a notice of payment out, and the notice of payment is going to say what the tariff' rate will be, Trump told reporters on Wednesday at the White House. 'It's all going to be the same for everyone, for that group.'
Al Arabiya
7 days ago
- Business
- Al Arabiya
Trump to Put Tariffs of Over 10% on Smaller Nations, Including Those in Africa and the Caribbean
President Donald Trump told reporters Tuesday that he plans to place tariffs of over 10 percent on smaller countries including nations in Africa and the Caribbean. 'Well probably set one tariff for all of them,' Trump said, adding that it could be a little over 10 percent tariff on goods from at least 100 nations. Commerce Secretary Howard Lutnick interjected that the nations with goods being taxed at these rates would be in Africa and the Caribbean, places that generally do relatively modest levels of trade with the US and would be relatively insignificant for addressing Trump's goals of reducing trade imbalances with the rest of the world. The president had this month been posting letters to roughly two dozen countries and the European Union that simply levied a tariff rate to be charged starting August 1. Those countries generally faced tax rates on the goods close to the April 2 rates announced by the US president, whose rollout of historically high import taxes for the US caused financial markets to panic and led to Trump setting a 90-day negotiating period that expired July 9. Trump also said he would probably announce tariffs on pharmaceutical drugs at the end of the month. The president said he would start out at a lower tariff rate and give companies a year to build domestic factories before they faced higher import tax rates. Trump said computer chips would face a similar style of tariffs.
