President Trump's plan to impose steep new tariffs

President Trump is planning to impose steep new tariffs, potentially raising $600 billion annually, which could burden consumers with higher prices and be the largest tax rise imposed by any president, leading to potential damage to the global trading system.

Impact of New Tariffs on U.S. Companies and Consumers

New tariffs on imports from China, Canada, and Mexico are causing concern among U.S. companies and consumers. Companies are finding ways to avoid tariffs through strategies like lobbying for exemptions, changing sourcing locations, and engaging in tariff engineering. Tariff engineering involves creative methods like relabeling products to lower duty rates or making product modifications. While companies can try to mitigate the impact of tariffs, consumers may ultimately bear the burden.

Alcohol Industry Shift towards Non-Alcoholic Drinks

US Surgeon General's warning about alcohol as a cause of cancer prompts major beer and spirits companies to focus on non-alcoholic drinks to attract health-conscious consumers, with a growing market for no-alcohol beverages.

Impact of Tariffs on Chinese Imports on American Jobs and Consumers

Chinese automaker BYD's low-priced electric vehicle Seagull has American automakers and politicians concerned due to its quality and price. President Biden is expected to impose tariffs on Chinese imports, continuing Trump's tough-on-China trade policies. However, tariffs can lead to job losses and higher costs for U.S. consumers.

Real Estate Commission Changes in the US

Realtors in the US are facing significant changes in how they get paid due to new rules starting on August 17. The changes eliminate the traditional 5-6% commission structure and require agents to discuss compensation upfront with buyers.

Bloomberg Surveillance Newsletter

Bloomberg Surveillance newsletter provides daily insights from Bloomberg Television's morning show. Consumers are tired of high prices.

Rising Grocery Prices in the US

Grocery prices in the US have increased by nearly 40% since 2019, with some items like eggs and sports drinks seeing even higher price hikes. Consumers are adapting by seeking cheaper alternatives and deals to cope with the inflation.

Regulations on Gas Cars by Biden Administration

Rep. Don Davis expressed concerns about the regulations on gas cars by the Biden administration, advocating to follow consumers instead of relying on Washington, D.C. to determine winners and losers. He emphasized the importance of not moving too quickly and involving the industry and consumers in the process.

Antitrust Lawsuit Against Apple

The Department of Justice sued Apple for anti-competitive practices, claiming its iPhone ecosystem is a monopoly that harms consumers and competitors. The lawsuit could force changes in Apple's most valuable businesses.

Critique of a New Credit Card Bill

A sponsored content by the Electronic Payments Coalition criticizes a new credit card bill proposed by Sens. Dick Durbin and Roger Marshall, claiming it will benefit large corporations like Walmart and Target instead of small businesses. Various reports highlight that the bill may lead to increased costs for consumers and small businesses while benefiting mega-stores. The content urges Congress to consider the negative impacts on consumers and small businesses.

Impact of Congressional Bill on Small Businesses and Consumers

The Electronic Payments Coalition opposes a bill in Congress pushed by Senators Durbin and Marshall, claiming it would hurt small businesses and benefit large retailers. Studies show that the bill could lead to small businesses losing out on rewards while large retailers benefit financially. The bill is criticized for potentially increasing consumer data security risks.

Credit Card Bill Impact on Small Businesses and Consumers

The article discusses a new credit card bill in Congress that is said to benefit small businesses and consumers but, in reality, favors large corporate mega-stores. The bill could lead to small businesses bearing the burden while big retailers like Walmart and Target profit. Studies show that small businesses and consumers may not see the benefits promised by the bill, and there are concerns about increased costs and loss of rewards programs.