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Economy

Trump’s trade war draws swift retaliation as Mexico, Canada and China impose tariffs on the US

By JOSH BOAK, PAUL WISEMAN and ROB GILLIES
Mar 04, 2025 10:34 am - President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.
SBAC aims to champion a robust small business agenda

By Elliot Richardson
Mar 01, 2025 1:20 pm - The latest data from the U.S. Small Business Administration shows that more than 97% of Illinois businesses have fewer than 20 employees. These small businesses are the backbone of our economy, fostering economic development and supporting local communities throughout our state.
US consumers cut spending in January more drastically than at any point in the last four years

By CHRISTOPHER RUGABER
Feb 28, 2025 8:22 am - U.S. consumers cut back sharply on spending last month, the most since February 2021, even as inflation declined, though stiff tariffs threatened by the White House could disrupt that progress.
What to know about the no-shopping ‘economic blackout’ on Feb. 28

By Ben Brasch and Jaclyn Peiser
Feb 27, 2025 9:10 am - A social media campaign has sparked plans for an “economic blackout” on Friday, one of several boycotts planned by activists intent on sending a message to large corporations at a time when many Americans are struggling to keep up with costs.
Weight-loss drugs aren’t just slimming waists. They’re shifting the economy.

By Ariana Eunjung Cha
Feb 24, 2025 11:54 am - Roughly 16 million people — that’s 6% of American adults — taking GLP-1 weight-loss drugs, and their collective purchasing power has the potential to profoundly reshape the economy in the coming years, experts say.
Tariffs could adversely affect Illinois’ businesses and families

By Frank Manzo IV
Feb 22, 2025 1:02 pm - A tariff is simply a sales tax on items brought into the United States from other countries. They are paid by companies that purchase the imports, who proceed to pass on the costs to consumers in the form of higher prices.
What does having the Consumer Financial Protection Bureau on hold mean for consumers?

By CORA LEWIS
Feb 15, 2025 1:54 pm - The Consumer Financial Protection Bureau, which Congress established to monitor credit card companies, mortgage providers, debt collectors and other segments of the consumer finance industry, recently had its work halted by the Trump administration. Here's some background on the scope of the CFPB's activities.
Illinois leaders: Stop pushing for big government, start helping small businesses

By Matt Paprocki
Feb 15, 2025 1:17 pm - Having access to meaningful work is one of the most important factors for families deciding where to plant roots. But since the onset of the pandemic, it’s been increasingly hard to find work in Illinois.
The number of Americans seeking jobless benefits falls as employers continue to hold on to workers

By MATT OTT
Feb 13, 2025 10:35 am - U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates. The number of ...
US inflation got worse with rising groceries and gasoline prices

By CHRISTOPHER RUGABER
Feb 12, 2025 7:48 am - U.S. inflation accelerated last month as the cost of groceries, gas, and used cars rose, a trend that will likely underscore the Federal Reserve's resolve to delay any further interest rate cuts.

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