ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money, trade war edition. |
President Donald Trump's newest import tariffs took effect Tuesday, and some of the targeted countries swiftly responded with tariffs of their own. |
Canada and China have announced retaliatory tariffs against the U.S., answering the long-threatened levies by the Trump administration on those countries and Mexico. |
Here's part of your answer: U.S. stocks closed sharply lower Monday, after Trump dashed early hopes of a tariff-war reprieve, Medora Lee reports. |
The broad S&P 500 slumped 1.76%, or 104.78 points, to 5,849.72, for the largest one-day loss since December, pushing the index to a loss of nearly 1% on the year. Other indexes saw losses across the board. |
Now, buckle up for rising prices |
The new import taxes are expected to increase the prices of many everyday goods, from gas to alcohol to meat and more, economists predict. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | President Donald Trump's tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade, went live on Tuesday. | | | | US stocks tumbled after Trump confirms 25% Mexico and Canada tariffs will begin Tuesday. Crypto also gives up gains made on strategic crypto reserve. | | | | After promising to impose tariffs on its two neighbors, Mexico and Canada, President Donald Trump has imposed tariffs on goods from these countries. | | | | In purely monetary terms, millennials are having a good decade. | | | | Social Security Fariness Act payments are coming soon to millions of Americans. But that boost could also raise their taxes. What to know. | | | | Gen X, defined as those born between 1965 and 1980, are next in line for Social Security, as its eldest members are just two years away from benefits. | | | | Rodney McMullen, who had been Kroger's CEO since 2014, resigned after an investigation. | | | | Workplace vacation policies should be applied fairly to maintain trust and morale among employees. | | | | Rent jumped the past year in the least costly areas, straining low, middle-income residents. The rise defies a national slowdown in rent hikes | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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