tariffs

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Car 'Destination' Fees Are Quietly Adding Hundreds

Automakers are hiking this transport charge as tariffs, other costs squeeze profits

(Newser) - Car buyers are running into a line on window stickers that's quietly getting a lot more expensive: the "destination charge." The fee, meant to cover getting a new vehicle from factory to dealer, now averages $1,600, up from roughly $1,200 in 2020, per industry data...

Maine's Lobster Fishermen Have Seen Better Days

Catch declined for 4th straight year, as industry is hit by inflation, tariffs, climate change

(Newser) - Maine's lobster catch declined for the fourth straight year, state fishing regulators said on Friday, as the industry continues to grapple with soaring business costs, inflation, and a changing ocean. The haul of lobsters, Maine's best known export and a key piece of the state's identity and...

24 States Sue to Block Trump's New Tariffs

Democratic-led coalition argues Trade Act misuse after Supreme Court rebuke

(Newser) - Two dozen states are moving to put an end to President Trump's latest round of import taxes. On Thursday, 24 Democratic-led states sued his administration over the new 10% tariff on nearly all imports, arguing Trump is trying to dodge a recent Supreme Court ruling that wiped out much...

Judge: Administration Has to Pay Tariff Refunds

Importers are 'entitled to benefit' from SCOTUS decision, he says

(Newser) - In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the US Court of International Trade wrote that "all importers of record" were "entitled...

Wholesale Inflation Jumps Past Predictions

Stronger producer prices may delay anticipated rate-slashing from Federal Reserve

(Newser) - Investors hoping inflation was gliding down got a jolt from January's wholesale price report. The Bureau of Labor Statistics said on Friday that producer prices, a key gauge of inflation pressures earlier in the supply chain, rose more than economists anticipated. Core producer prices, which leave out more erratic...

FedEx: We'll Give Customers Any Tariffs Refund We Get

Company is suing the US over the levies invalidated by the Supreme Court

(Newser) - Delivery company FedEx says it will return any tariff refund it might get to shippers and customers who paid them. The statement came after FedEx filed suit in the US Court of International Trade to request a refund on what it paid for tariffs set by President Trump under the...

Scads of Importers Step Right Up for Their Tariff Refunds

Companies are flooding the courts to reclaim billions, but they could be waiting awhile

(Newser) - Companies aren't just lining up for refunds, they're stampeding. After the Supreme Court last week invalidated much of President Trump's global tariffs regimen, at least 1,800 firms have sued to claw back duties paid, part of an estimated $130 billion collected in just 10 months. The...

FedEx Sues US Government Over Trump's Tariffs

Delivery giant seeks repayment of duties after Supreme Court ruling

(Newser) - FedEx just put a dollar sign on the Supreme Court's recent tariff ruling . Days after the court found that most of President Trump's import duties were unlawful, the shipping giant filed suit on Monday in the US Court of International Trade, seeking to claw back money it says...

It Could Be a Tense SOTU for the Supreme Court

Trump, who has been railing against the court over its tariff decision, speaks Tuesday night

(Newser) - President Trump delivers his State of the Union speech Tuesday night, and he's tipping his hand on only one aspect of it in advance: "It's going to be a long speech because we have so much to talk about," he told reporters on Monday, reports the...

Doomsday AI Scenario Sends Markets Into Freefall

Viral research note exposes AI-driven market jitters

(Newser) - Wall Street just got spooked by a what-if, the Wall Street Journal reports. A 7,000-word Substack post from Citrini Research, describing a "June 2028" scenario in which AI wipes out the premium on human intelligence and triggers mass white-collar layoffs, went viral—and stocks moved as if it...

Supreme Court Ruling All but Kills 'Tariff Dividend Checks'

Court ruling, missing legislation dim prospects for household rebate plan

(Newser) - Those $2,000 "tariff dividend" checks President Trump has been talking up are looking increasingly unlikely to actually happen, policy experts tell CNBC . When the Supreme Court on Friday invalidated a key plank of Trump's existing tariff program, ruling 6-3 that he misused emergency powers to put much...

Trump Renews Criticism of Tariff Ruling; Markets Shaky

Dow falls 700 points as president slams 'ridiculous' Supreme Court ruling

(Newser) - President Trump laid into the Supreme Court on Friday for ruling against him on tariffs, and he kept up the attacks on the "ridiculous and poorly crafted" decision on Monday. In Truth Social posts , Trump reiterated his assertion that he does not need the approval of Congress to levy...

Trump Yanks Endorsement of Congressman Over Tariffs

Colorado Republican Jeff Hurd will face challenger backed by president in primary

(Newser) - President Trump might have just turned a Colorado primary into a litmus test on tariffs. On Saturday, Trump revoked his endorsement of GOP Rep. Jeff Hurd, blasting the first-term lawmaker in a lengthy Truth Social post for his "lack of support" of the administration's tariff policies, reports the...

Trump Answers Supreme Court With 10% Tariff, Then Raises It

Post says a law that's never been used allows temporary duty

(Newser) - President Trump changed his plan after a Supreme Court loss by announcing Saturday that he is lifting his new blanket tariff on imports to 15%—hours after announcing he was imposing the levy at 10%. In a Truth Social post, Trump said the increase would take effect immediately, calling it...

Trump: SCOTUS Ruling Will Backfire in My Favor

President says he'll find workaround on tariffs that will bring in even more money

(Newser) - President Trump blasted the Supreme Court's decision to invalidate most of his tariffs on Friday—but he vowed that he will use different tactics to bring in even more money. "We have alternatives," he said at an afternoon news conference, reports the Wall Street Journal . "Very...

After Bombshell Ruling on Tariffs, What Now?

Trump suggests he has a backup plan, but details were not immediately available

(Newser) - It will take a while to assess the fallout from the Supreme Court's bombshell ruling Friday that invalidates most of President Trump's global tariffs. For now, one thing both sides will likely agree on is a line from Brett Kavanaugh's dissenting opinion, in which he argues that...

Supreme Court Strikes Down Trump's Tariffs

It's a major loss for the president's economic policy

(Newser) - The Supreme Court struck down President Trump's global tariffs on Friday, delivering what the Wall Street Journal calls a "stinging repudiation" of a central part of his economic agenda. The 6-3 decision focused on whether Trump had the authority to invoke the emergency-powers law of 1977 to enact...

GDP Comes In Much Weaker Than Expected

It rises 1.4% in fourth quarter, well below expectations

(Newser) - Economic momentum took a clear hit at the end of last year, with the record-long government shutdown and a slowdown in consumer spending taking the blame. New data from the Commerce Department shows the US economy expanded at a 1.4% annual rate in the fourth quarter—barely more than...

Trade Deficit Is Near Record High Despite Tariffs

It dropped just 0.2% last year

(Newser) - In a Truth Social post Wednesday night, President Trump said his tariffs had brought down the trade deficit by 78%, but government figures released the next day told a very different story. According to the Commerce Department, the gap between goods and services sold to the US and what it...

Shoppers Should Brace for Steep Price Hikes

After a holiday pause, companies are preparing to pass on tariff costs

(Newser) - Shoppers who enjoyed a brief pause in price hikes may want to brace themselves. After several months of relative calm—and holiday discounts—companies are again bumping up prices on everything from jeans to spices to software, the Wall Street Journal reports. The increases, often in the high-single-digit range, appear...

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