Shelf of pharmaceutical products. D3sign | Moment | Getty Images The pharmaceutical industry is scrambling with scenario planning as U.S. President Donald Trump’s 200% tariff proposal threatens to drive up drug prices and rip out corporate profit margins. The president once again warned on Tuesday that long-awaited industry-wide tariffs would be announced “very soon” after…
As President Donald Trump intensifies his trade war to stack up tariffs on many Asian countries that produce the goods that consumers in the U.S. rely on, low-cost Asian retail upstarts Temu and Shein may yet find a way back to big success in the U.S. market. The Asian rivals to Amazon were directly targeted…
US President Donald Trump speaks during a multilateral lunch with visiting African Leaders in the State Dining Room of the White House in Washington, DC, on July 9, 2025. Jim Watson | Afp | Getty Images President Donald Trump said Wednesday the U.S. will slap a 50% tariff on Brazil‘s imports, partly in retaliation for…
President Donald Trump, accompanied by U.S. Secretary of State Marco Rubio (L) and U.S. Defense Secretary Pete Hegseth (R), discusses his decorating of the Cabinet Room during a cabinet meeting at the White House on July 08, 2025 in Washington, DC. Andrew Harnik | Getty Images President Donald Trump signaled he would send more letters…
The European Union (EU) is stuck in limbo as uncertainty persists around when a trade agreement with the U.S. might be reached. The goal had been to agree on a framework by July 9, when a temporary reprieve from U.S. President Donald Trump’s “reciprocal” tariffs was initially meant to expire. The EU was seemingly still…
WASHINGTON, DC – JULY 7: An aide picks up a page from a letter to Japan and South Korea, signed by U.S. President Donald Trump, announcing 25% tariffs beginning on August 1st, during the daily press briefing in the Brady Press Briefing Room at the White House on July 7, 2025 in Washington, DC. Andrew…
US President Donald Trump speaks during a cabinet meeting in the Cabinet Room of the White House in Washington, DC, on July 8, 2025. Andrew Caballero-Reynolds | AFP | Getty Images President Donald Trump said he will impose a 50% tariff on copper imports on Tuesday, and suggested more steep sector-specific duties are on the…
A top White House economic advisor on Tuesday likened the odds that President Donald Trump‘s tariffs will lead to higher prices to those of a meteorite striking earth. “Rare events happen. We get pandemics or, or meteors or whatever,” said Stephen Miran, chairman of Trump’s Council of Economic Advisers, on CNBC’s “Squawk Box.” But “there’s…
The evening skyline in Victoria, Australia. Prasit Photo | Moment | Getty Images Australia’s central bank held its policy rate at 3.85%, saying it needed more time to assess inflation data. Economists polled by Reuters had been expecting a cut of 25 basis points to 3.6%. In its statement Tuesday, the Reserve Bank of Australia…
Treasury Secretary Scott Bessent on Monday said the Trump administration will make “several” trade-related announcements in the next 48 hours, signaling imminent progress even as U.S. tariff deadlines appear to be shifting. Speaking on CNBC’s “Squawk Box,” Bessent also declined, yet again, to rule out the possibility that he could serve as the next chair…
