Here’s how tariffs on Canada, China and Mexico may impact U.S. consumers

Key Points

President Donald Trump is imposing a 25% tariff on Canada and Mexico and a 10% tariff on China starting on Saturday, the White House said.
Tariffs will likely result in higher prices for U.S. consumers, both directly and indirectly, economists say.
Tariffs are a tax on foreign imports that are paid by the U.S. businesses importing those products. They will likely pass those costs to customers, economists explain.

Source

Finance

Stocks making the biggest moves premarket: Ulta Beauty, Airbnb, Gap, American Eagle and more

May 30, 2025

Check out the companies making headlines before the bell: UiPath — Shares surged 12% after the automation software company posted first-quarter operating income and revenue figures that exceeded FactSet estimates. UiPath also raised its full-year revenue guidance and sees its current-quarter revenue coming in between $345 million and $350 million, while analysts polled by FactSet […]

Finance

Trump tariffs would still ‘pinch’ consumers even if trade court block holds, economist says

May 30, 2025

Key Points A federal trade court blocked a large piece of President Trump’s tariff agenda in a ruling Wednesday. An appeals court temporarily paused that order on Thursday. Even if the lower court’s ruling holds, the average household would lose $950 of purchasing power in 2025 as a result of tariffs that remain on the […]

Finance

U.S.-China talks ‘a bit stalled’ and need Trump and Xi to weigh in, Treasury Secretary Bessent says

May 30, 2025

Key Points U.S.-China trade talks “are a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News. After a rapid escalation in trade tensions last month, Bessent helped the world’s two largest economies reach a breakthrough agreement in Switzerland on May 12. The U.S. has pushed ahead with […]