The federal government managed to escape with a $1.78 trillion shortfall, some $41 billion, or 2.2%, less than fiscal 2024.

The retailer is entering a new era.

'This additional tariff means that Canadian wood has a higher tariff rate going to the United States than Russia does. I want to let that sink in,' Premier David Eby says.

With China's U.S. soybean purchases withheld, Iowa Republican leaders are pressing for a deal with Beijing, the biggest buyer of the American crop.

Trump’s taxes on imports from Canada has hurt the country’s economy, which contracted at a 1.6 percent annual rate in the second quarter.

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The PCE report today was expected to show core inflation at 2.9% and headline inflation at 2.6%.

US ends tariff exemption for imports under $800 on Aug 29th. Expect higher costs on international o...

Investing.com-- U.S. President Donald Trump’s doubled 50% trade tariffs on India took effect from Wednesday as the deadline for the levies passed with no trade deal reached between Washington and New Delhi. U.S. Customs and Border Protection issued a notice on Tuesday outlining Trump’s increased tariffs on a host of goods. But select items like steel, copper, aluminum, pharmaceuticals, automobiles, and electronics will be exempt. Trump had earlier this month outlined 25% tariffs on Indian exports to the United States, and had said the levy would double to 50% in three weeks. The increased tariffs were tied to Washington’s ire over India’s continued purchases of Russian oil. Trump’s doubled tariffs then took effect from midnight on Wednesday. The president has also called on India to further open its agricultural market to U.S. imports– a sensitive topic for the ruling BJP party, which has largely sought to protect its agrarian voting base. India, along with Brazil, now faces the among highest tariff levels imposed by the United States. Indian ministers argued that the tariffs were unjustly imposed, pointing to China’s continued buying of Russian oil, for which the country faces no U.S. tariffs. Prime Minister Narendra Modi has also signaled no intent to curb buying of Russian oil, recently stating that the country will overcome despite the 50% tariffs. New Delhi was Russia’s second-largest buyer of oil after Saudi Arabia, shipping data for July showed. India is highly dependent on oil imports, which represent roughly 80% of the country’s crude consumption. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. India has assured local exporters that the government will take all measures to safeguard them from the increased tariffs, while also pushing for exports to alternative markets such as Europe and China. Earlier in August, New Delhi also outlined potential tax cuts for several Indian sectors to help curb the impact of Trump’s tariffs. But analysts expect increased headwinds for the Indian economy from Trump’s tariffs. ANZ analysts said in a recent note that Trump’s tariffs will pressure India’s most competitive export sectors, while also quashing capital expenditure in the industrial sector. They also flagged a cautious outlook for Indian stocks. Indian markets were closed for a holiday on Wednesday. The Nifty 50 index had fallen 1% on Tuesday. The Indian rupee remained close to record lows hit after Trump’s initial announcement of the 50% tariffs. Successful investors know to check multiple angles before making their move. InvestingPro's three powerful features work together to give you that edge: ProPicks AI runs 80+ stock-picking strategies, including Tech Titans, which doubled the S&P 500's performance in just 18 months! Fair Value combines 17 proven valuation models to help you spot overpriced stocks and undervalued gems. And WarrenAI delivers instant insights on any stock. Ask questions, get vetted answers backed by real-time data (unlike ChatGPT). Our subscribers use all three to identify stocks before double-digit gains and avoid costly mistakes. But with 50% during our Summer Sale, even if you only use one of these features the value pays for itself. Sale ends soon—don't wait until prices go back up.

By Emma Rumney LONDON (Reuters) -Americans keen on a stiff drink at a bar should brace for a sobering rise in prices, with Scotch whisky connoisseurs potentially stomaching an extra $1 on average per drink, thanks to U.S. tariffs on UK and European goods, according to an industry analysis shared exclusively with Reuters. Other EU alcohol, like French champagne, Irish whiskey and Italian prosecco, may see price rises, with the tariffs impacting some $10 billion worth of such imports each year. Brands affected include Diageo (LON:DGE)’s Guinness beer and Pernod Ricard (EPA:PERP)’s Jameson Irish whiskey. U.S. President Donald Trump’s 15% tariff on European Union imports could raise wholesale prices of wine and spirits by more than 80 cents per gallon on average, with a smaller 3 cent increase for beer, the analysis, commissioned by trade association the Wine & Spirits Wholesalers of America, showed. The levies could rake in $987.1 million in federal revenue, once lost sales are taken into account, it said, with the costs likely passed on to U.S. businesses and consumers over time, causing sales and job losses. The U.S. is, by far, the biggest market for the top spirit makers among Western countries and most European wine and spirit producers. IMPACT ON CONSUMERS The analysis assessed the impact of tariffs if the levies are passed on in full. Spirit imports previously enjoyed zero tariffs. It found that U.S. tariffs, including a 10% levy on UK products like Scotch whisky at the port, could significantly raise the price per bottle at a bar or other venue once additional costs from margins and taxes are added. For a 750 millilitre bottle of Scotch, an average $1.92 tariff at the port could translate to a price increase of more than $12 per bottle at the bar, said the analysis, produced for WSWA by New York economic research firm John Dunham & Associates. Assuming just over 12 two-ounce drinks per bottle, that would mean an additional $1 per drink at the bar on average. Cutter Smith, who takes up the post of WSWA chairman in September, said that in some cases, wholesale prices were already on the rise. "It is a company-by-company and, in some cases, brand-by-brand decision, but one thing is certain, if these tariffs stay in place, they will make their way to the consumer," he said. The tariffs have hit just as the U.S. prepares for the holiday season starting in October, when alcohol sales surge due to celebrations and gifting. Pernod Ricard and Diageo declined to comment on the analysis. SALES ALREADY DECLINING Relatively small tariffs on Irish whiskey and Polish vodka also spiral upward as they make their way to bars or other venues, the analysis found, leading to an average price increase of 26 or 52 cents, respectively, per two-ounce drink. The wine and spirits industries had hoped to win an exemption from EU tariffs, but found no relief in a framework trade deal secured on Thursday. U.S. sales are already in decline as inflation-weary or health conscious consumers cut back. A Gallup survey in August found that reported U.S. alcohol consumption hit its lowest on record, and competition from alternatives and other threats have also raised concerns over longer-term growth. Analysts say higher-end brands preferred by wealthier consumers should be less sensitive to price changes, with cheaper and mid-range labels more likely to see demand decline as prices rise. Some domestic producers may benefit if their wine and spirits are cheaper than those of imported rivals, but others are unsure or worry about retaliatory tariffs. The analysis found that European wine would be hardest hit by the 15% levy, with wholesale prices rising by 86 cents per gallon on average, followed by spirits at 82 cents and beer at 3 cents. And some spirit makers like Campari (LON:0ROY) and Diageo have said they would not raise prices or would take other mitigation measures to prevent tariff costs being passed on for now. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is PERP one of them?