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Economy

Trump’s massive import taxes haven't done much economic damage — yet

By PAUL WISEMAN, CHRISTOPHER RUGABER and ANNE D'INNOCENZIO
May 19, 2025 11:24 am - For months, American consumers and businesses have been hearing that President Donald Trump’s massive import taxes — tariffs — would drive up prices and hurt the U.S. economy. But the latest economic reports don’t match the doom and gloom: Inflation actually eased last month, and hiring was solid in April.
Student loans have been confusing lately. Here’s a guide to know where you stand

By ADRIANA MORGA
May 17, 2025 1:42 pm - Between collections resuming, courts blocking student loan programs and layoffs at the Education Department, borrowers might be confused about the status of their student loans.
Illinois’ motor fuel tax is working as intended: Fixing roads and keeping up with costs

By Frank Manzo IV
May 17, 2025 1:28 pm - Every July 1 since 2019, Illinois’ motor fuel tax ticks upward with the rate of inflation. And every year, the same talking heads emerge attacking it as some evidence of broken government.
US consumer sentiment slides to 3-year lows as trade war raises inflation anxiety

By CHRISTOPHER RUGABER
May 16, 2025 2:56 pm - U.S. consumer sentiment fell slightly in May for the fifth straight month, surprising economists, as Americans increasingly worry that President Donald Trump’s trade war will worsen inflation. The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, declined 2.7% on a monthly basis to 50.8, the second-lowest level in the nearly 75-year history of the survey. The only lower reading was in June 2022. Since January, sentiment has tumbled nearly 30%.
US stocks power within 3% of their record as Wall Street closes out a winning week

By STAN CHOE
May 16, 2025 8:54 am - U.S. stocks rose again to close out their winning week. The S&P 500 climbed 0.7% Friday for a fifth straight gain and pulled within 3% of its record set in February. The Dow Jones Industrial Average added 331 points, and the Nasdaq composite climbed 0.5%.
A rare warning from Walmart during a US trade war: Higher prices are inevitable

By ANNE D'INNOCENZIO
May 15, 2025 8:58 am - Walmart, which became the nation's largest retailer by making low prices a priority, has found itself in a place it's rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats. Executives at the $750 billion company told industry analysts Thursday that they are doing everything in their power to absorb the higher costs from tariffs ordered by President Donald Trump. Given the magnitude of the duties, however, the highest since the 1930s, higher prices are unavoidable, and they will hurt Walmart customers already buffeted by inflation over the past three years. Walmart reported strong sales for the first quarter on Thursday, though profits slipped.
Inflation cooled again, but economists don't expect that to last

By CHRISTOPHER RUGABER
May 13, 2025 12:59 pm - Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many business owners expect inflation will climb in the coming months.
Trump’s tariff truce with China brings some relief but uncertainty over what's next

By JOSH BOAK and DIDI TANG
May 12, 2025 5:24 pm - President Donald Trump’s agreement with China to temporarily slash tariffs for 90 days offered the world a bit of welcome relief. But what persists is a sense of uncertainty and the possibility that some damage from the trade war could already be done.
US businesses that rely on Chinese imports express relief and anxiety over tariff pause

By MAE ANDERSON and ANNE D'INNOCENZIO
May 12, 2025 2:32 pm - American businesses that rely on Chinese goods reacted with muted relief Monday after the U.S. and China agreed to pause their exorbitant tariffs on each other's products for 90 days.
US and China take a step back from sky-high tariffs and agree to pause for 90 days for more talks

By JAMEY KEATEN, DAVID McHUGH, ELAINE KURTENBACH and KEN MORITSUGU
May 12, 2025 7:05 am - U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

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