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Economy

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.
Trump claims prices are down. Here’s what the data actually shows.

Andrew Ackerman, Rachel Lerman
May 09, 2025 11:45 am - President Donald Trump has insisted that prices are falling, even as consumers continually express concern about the economy. The reality is complicated.
Illinoisans are sick of new taxes; reject payroll tax

By Matt Paprocki
May 09, 2025 11:37 am - As new tariffs threaten to push up prices, Illinois’ punishing tax climate already is stretching many residents’ and businesses’ budgets.
As US and China begin trade talks in Geneva, Trump's tariff hammer looks less mighty than he hoped

By SEUNG MIN KIM
May 09, 2025 6:51 am - The way President Donald Trump sees it, beating China in a trade war should be easy. Somebody forgot to tell China. So far, the Chinese have refused to fold under the pressure of Trump’s massive tariffs. Instead, they have retaliated with triple-digit tariffs of their own.

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