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On Tuesday, President Donald Trump informed CNBC’s ‘Squawk Box’ that the proposed tariffs on drugs/pharmaceuticals imported into the United States could reach as high as 250%, which is the highest rate he has ever mentioned. He indicated that he wanted to start out with a small tariff on pharmaceuticals, but within a period of one year or perhaps a year and a half, he would want to ramp up the level to 150% and then to 250%.  That being said, the president has a history of making threats about tariffs but then backing away from them, so whether we will see consequences of pharmaceutical tariffs being imposed at the 250% level remains uncertain. Earlier in July, Trump had even put forward the terms of a 200% tariff on pharmaceuticals. In April, the Trump administration launched a...

Aligning with their father’s protectionist economic policies geared toward the same goal, President Donald Trump’s oldest sons are launching a new firm with a business project that is partially focused on ‘revitalizing American manufacturing.’ New America Acquisition I Corp, a blank-check business backed by Eric Trump and Donald Trump Jr., asked for an initial public offering (IPO) of up to $300 million on August 4. According to their filing, this special purpose acquisition company (SPAC), which the family has previously used to create firearms shops and media businesses, will combine with companies that are either based in the United States or mostly operate within the nation. The filing states that the launched new firm would want to merge with one or more companies valued at ...

President Donald Trump declared on Thursday that he intended to nominate Stephen Miran, a major supporter of the government’s tariff policy, to briefly hold a seat on the Federal Reserve’s Board of Governors. Widely known for laying the groundwork for Trump’s comprehensive tariff policy, Miran now heads the Council of Economic Advisers and has continuously supported Trump's economic efforts since she assumed her position. Stephen Miran is replacing Adriana Kugler, named by former President Joe Biden in 2023, who has stepped down. Her tenure was meant to end in January, but last week she suddenly declared her resignation without giving any justification for her leaving. “I believe this role is rather important for the president,” Miran told CNBC on Wednesday. If the Senate confirms hi...

So far in 2025, the job market for IT jobs in the United States has not shown great strength; downward revisions to the Bureau of Labor Statistics statistics for May and June indicate that job losses in July are part of the IT sector slowdown than had been earlier believed. Although the Bureau of Labor Statistics showed little job increase last month, the weak payroll growth statistics obscured a more troubling problem. A significant percentage of the employment growth recorded for May and June was erroneous. Amidst U.S.-China trade war, the domestic mine project has increased the number of labourers. According to the BLS, May's statistics called for an IT sector slowdown revision of 125,000 jobs, hence resulting in only 19,000 jobs being added; June’s figures were adjusted even furt...