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Americans are spending less at McDonald’s. Fewer container ships are expected at the Port of Los Angeles. Procter & Gamble is raising prices. Mattel is shifting production out of China. Evidence for the economic impact of President Trump’s trade wars is everywhere — except, for the most part, in economic data itself. Consumer spending hasn’t…
When the Covid pandemic hit, factories in China shut down and global shipping traffic slowed. Within a matter of a few weeks, products began disappearing from U.S. store shelves and American firms that depend on foreign materials were going out of business. A similar trend is beginning to play out, but this time the catalyst…
The United States imposed 25 percent tariffs on imported auto parts on Saturday that could sharply raise prices for new and used vehicles as well as for repairs and insurance. The latest tariffs, which President Trump ordered in March as part of his plan to promote domestic manufacturing, come after the 25 percent levies on…
The chaotic start to President Trump’s second term roiled the economy at the beginning of the year, as consumers and businesses scrambled to react to a constant stream of tariff announcements and policy shifts. The policies, and the uncertainty they created, were enough to push economic growth into reverse in the first quarter. U.S. gross…
Japanese consumers have historically steered clear of foreign rice. But facing high prices, they rushed last week to buy the first South Korean imports to Japan in decades, clearing the shelves within days, South Korean officials said. It was a relatively small amount, a little over two tons, compared with Japan’s overall shortage, but it…
On Friday, amid a tariff-induced frenzy that drove hordes of consumers to panic-buy iPhones, President Trump announced a tariff exemption on electronics like smartphones and computers. For a moment, widespread anxiety about a potential $2,000 iPhone dissipated. But two days later, the Trump administration said smartphones and computers were likely to be hit with new…
There are not many certainties in the world of money, but this traditionally has been one of them: When life turns scary, people take refuge in American government bonds. Investors buy U.S. Treasuries on the assumption that, come what may — financial panic, war, natural disaster — the federal government will endure and stand by…
This time, maybe the stock market is the economy. Financial markets around the world have plummeted in the days since President Trump announced sweeping tariffs, setting off a global trade war. The S&P 500 declined more than 10 percent in two days last week. It swung wildly on Monday amid news of further tariffs and…
Charlene and Phil Willingham had been thinking for a while about replacing the 20-year-old appliances in their kitchen, but with the sudden prospect of rising costs, they decided that this was the moment. The Willinghams, both retired, turned up at a store in the suburbs of Chicago on Friday with a long shopping list: stove,…
In the United States, the affordability of eggs has prompted a national discussion — underscoring anxieties about the economy and the government’s role in addressing them. In Japan, there’s an equivalent: rice. Over the past year, Japan has grappled with a more than 200,000-ton shortage of its staple grain. Rice prices have skyrocketed, and supermarkets…
