GET THE APP
Friday, October 3, 2025

Category: Economy
June 3, 2025
Economy
World

Foreign Governments Have Until Tomorrow to Avoid Trump Tariffs.

PULSE POINTS:

❓What Happened: The Trump administration has requested that countries submit their best trade deal proposals by June 4 to avoid the reimposition of reciprocal tariffs on July 8.

👥 Who’s Involved: President Donald J. Trump, U.S. Trade Representative Jamieson Greer, global trade partners, and National Economic Council Director Kevin Hassett.

📍 Where & When: International trade negotiations, deadline set for June 4, 2025.

💬 Key Quote: U.S. Trade Representative spokesman: “Productive negotiations with many key trading partners continue at a rapid pace.”

⚠️ Impact: Foreign governments wishing to avoid the reimposition of President Trump’s paused “Liberation Day” tariffs must make their best offer in the next 24 hours. Any foreign trade partner that fails to submit a proposal will see additional trade duties imposed on them by the Trump administration.

IN FULL:

The Trump administration is giving global trade partners until Wednesday, June 4, to submit their best proposals for trade agreements to avoid the reimposition of reciprocal tariffs next month on July 8. A draft letter from the U.S. Trade Representative, Jamieson Greer, requests that foreign nations wishing to avoid the reimposition of trade duties outline their commitments on tariffs, non-tariff barriers, digital trade, and quotas for purchasing U.S. goods.

According to the letter, the proposals will be reviewed within days by U.S. trade officials who will develop a “possible landing zone” for a trade deal to expedite negotiations ahead of the looming July deadline. “Productive negotiations with many key trading partners continue at a rapid pace. It is in all parties’ interest to take stock of progress and assess any next steps,” a spokesman for the Office of the U.S. Trade Representative said after the letter became public.

Initially introduced in April on what was billed as “Liberation Day,” President Donald J. Trump paused the reciprocal tariffs after foreign nations scrambled to open bilateral trade negotiations and high volatility disrupted global financial markets. The letter suggests that the Trump White House is making its final push to encourage a handful of nations to come to the table, with only weeks left in the 90-day tariff pause.

Notably, the letter warns trade partners against relying on courts to overturn the tariffs, emphasizing that President Trump intends to continue the program through all available legal avenues. A lawfare campaign spearheaded by Democrats saw two federal courts rule that Trump’s emergency declaration, citing the International Emergency Economic Powers Act (IEEPA) and used to justify the reciprocal tariffs and a 10 percent global tariff, was unconstitutional. However, a federal appeals court has stayed those decisions pending ongoing litigation.

Kevin Hassett, director of President Trump’s National Economic Council (NEC), has said that 24 bilateral trade deals are nearing finalization. It is speculated that a number of smaller, less economically developed nations with weak export and import markets will likely not face the reimposition of tariffs regardless of whether they reach an agreement with the United States. However, indications are that the Trump White House will reimpose trade duties against major trading partners like the European Union (EU) and developed nations who do not comply.

show less

PULSE POINTS:

show more
June 3, 2025
Jack Montgomery
Economy

Trump Tariff Triumph as Vietnam Signs Deals Worth $2bn to American Farmers.

PULSE POINTS:

❓What Happened: Vietnam has agreed to purchase over $2 billion in U.S. agricultural products in an effort to ease trade tensions and avoid a 46 percent tariff threatened by President Donald J. Trump.

👤Who’s Involved: President Trump, Vietnam’s Minister of Agriculture Do Duc Duy, U.S. farmers—especially in Iowa—and companies including Westinghouse Electric, SpaceX, and Lockheed Martin.

🧾Key Quote: The Vietnamese agriculture ministry confirmed five memoranda of understanding for $800 million in purchases from Iowa alone over the next three years.

⚠️Fallout: Vietnam, which holds one of the largest trade surpluses with the U.S., is seeking to avoid stiff retaliatory tariffs by shifting its import strategy and deepening commercial ties with American producers.

📌Significance: The move marks a significant win for Trump’s America First trade agenda, delivering tangible benefits to U.S. farmers while pressuring foreign governments to rebalance trade deficits.

IN FULL:

Vietnam announced Tuesday that it will sign deals worth more than $2 billion with the United States to purchase American agricultural products, as the Southeast Asian nation works to head off a looming 46 percent reciprocal tariff proposed by President Donald J. Trump.

The agreement, unveiled during a U.S. visit by Vietnam’s Minister of Agriculture and Environment Do Duc Duy, includes five memoranda of understanding to purchase products such as soybean meal, corn, wheat, dried soybeans, and dried distillers’ grains (DDGS). The deals will significantly boost agricultural imports from the United States over the next three years.

In particular, the agreements cover $800 million in purchases from the state of Iowa—up from a previous average of just $44 million per year, according to Vietnam’s Ministry of Agriculture.

Vietnam currently has the third-largest trade surplus with the United States, behind only China and Mexico. The surplus has placed it squarely in the crosshairs of President Trump’s tariff policy, which aims to realign America’s trade relationships and support domestic industry and agriculture.

The agricultural purchases are part of a broader effort by Vietnam to smooth over its trade imbalance. The country is preparing for a third round of trade negotiations with U.S. officials in the coming days, following what it called “positive progress” during earlier discussions in Washington.

In addition to the agricultural deals, Vietnamese officials met with representatives from American firms, including Lockheed Martin, SpaceX, and Google, and signed an agreement with Westinghouse Electric to cooperate on nuclear power development.

show less

PULSE POINTS:

show more
May 30, 2025
Economy

Trump Economy Hits Highs Not Seen in Decades.

PULSE POINTS:

❓What Happened: The S&P 500 recorded its best monthly numbers since 2023—and its best gains for the month of May since 1990.

👥 Who’s Involved: The S&P 500, Nasdaq, Dow Jones Industrial Average, President Donald J. Trump, and China.

📍 Where & When: U.S. stock markets, May 2025.

⚠️ Impact: All three major U.S. stock indices saw strong gains in May, with the S&P 500 and Nasdaq achieving their best months since November 2023, amid ongoing U.S.-China trade tensions.

IN FULL:

The S&P 500 capped off May with its strongest monthly performance in over a year and a half, gaining six percent across the month, despite closing Friday nearly flat. The Nasdaq and S&P 500 both posted their best monthly results since November 2023. Moreover, it saw the best gains for the month of May, specifically, since 1990.

The Dow Jones Industrial Average rose slightly by 0.13 percent on Friday, while the Nasdaq composite slipped just 0.3 percent.

Notably, the market’s rebound in May followed a challenging April, during which investor sentiment was rattled by media clamoring over President Donald J. Trump’s imposition of steep tariffs on China. The tariffs are part of ongoing trade negotiations with Beijing and other foreign trade partners.

Earlier on Friday, President Trump accused China of going back on a “fast deal” he claimed to have made, but remained hopeful about eventually securing an agreement. Tensions with China have persisted, but Trump’s optimism suggests a potential resolution might still be on the horizon.

The market gains follow data released by the Department of Commerce, which shows inflation continuing to cool and record revenue collected from President Trump’s tariffs.

show less

PULSE POINTS:

show more
May 30, 2025
William Upton
Economy

Trump Tariff Triumph as Trade Deficit HALVED in One Month.

PULSE POINTS:

❓What Happened: Key economic indicators reveal inflation is decreasing, personal incomes are rising, and the trade deficit has seen a record reduction.

👥 Who’s Involved: President Donald J. Trump, the Federal Reserve, and the Commerce Department.

📍 Where & When: United States, April 2025, with the data released by the Commerce Department on May 30, 2025.

⚠️ Impact: The figures surpass economists’ expectations and suggest significant economic shifts, including positive tariff-related impacts on trade.

IN FULL:

The United States’ trade deficit was cut by nearly half in April, falling from $162.3 billion in March to just $87.6 billion. According to data released by the U.S. Commerce Department on Friday, the goods trade gap contracted by 46 percent last month.

Notably, goods imports decreased by $68.4 billion to $276.1 billion, the single largest drop in goods imports on record. Meanwhile, exports jumped by $6.3 billion to a total of $188.5 billion.

The data comes on the heels of government inflation numbers showing prices are holding stable despite predictions from the Federal Reserve and tariff opponents who have argued that President Donald J. Trump’s imposition of aggressive trade duties on imports would cause inflation to accelerate. Instead, consumer data shows inflation continuing to cool, though signals of potential deflationary pressures are raising some alarms.

President Trump has repeatedly emphasized that he intends to use an array of tariff measures to encourage the reshoring of American manufacturing jobs as leverage to negotiate new bilateral trade deals with key economic partner nations, and to boost federal revenues in place of income taxes. The Commerce Department data suggests the trade and economic policy transition is working with minimal disruption thus far.

The National Pulse reported earlier this week that tariff revenues in May have already exceeded $22.3 billion. In April, the federal government collected $17.4 billion in trade duties.

show less

PULSE POINTS:

show more
May 30, 2025
Economy

U.S. Inflation Cooling Despite Hysteria Over Trump Tariffs.

PULSE POINTS:

❓What Happened: U.S. inflation continued to slow in April while incomes rose.

👥 Who’s Involved: The Commerce Department, Federal Reserve, Trump administration, and U.S. courts.

📍 Where & When: United States; data reported Friday, May 30, 2025.

⚠️ Impact: The data suggests that President Donald J. Trump’s tariffs have had minimal inflationary impact. Meanwhile, receding inflation signals undermine the Fed’s continued position of keeping interest rates steady instead of enacting a cut.

IN FULL:

A key measure of U.S. inflation slowed last month as consumer prices rose just 2.1 percent in April compared to the same time last year, according to the Commerce Department. This marks a decline from March’s figure of 2.3 percent and represents the lowest rate since September. Core prices, which exclude volatile food and energy categories, increased 2.5 percent year-over-year, down slightly from 2.6 percent in March.

The data indicates a continued decline in inflation from its post-pandemic peak in July 2022, which reached the highest levels in four decades. Despite this, Federal Reserve officials noted during their May 6-7 meeting that inflation remains above their two percent target. The Fed’s policy of maintaining current interest rates, despite the receding inflationary pressure, has sparked criticism. President Donald J. Trump has openly pushed for the central bank to begin cutting rates, and a number of market signals suggest the economy could be moving towards deflation, which would also suggest rate cuts are necessary.

Critics of President Trump’s tariff policies have repeatedly claimed that the trade duties would increase inflation. However, as The National Pulse has repeatedly noted, tariffs—while potentially increasing supply-driven inflation on the front end—have a deflationary effect over time.

Concerningly, the Federal Reserve’s Secured Overnight Financing Rate (SOFR) data has consistently shown a push towards the lower end of the current range of the central bank’s federal funds rate—which sets interest rates for the country. This would suggest that market forces are no longer concerned about inflation but instead are seeking greater liquidity and may be worried about the far more concerning potential for deflation.

show less

PULSE POINTS:

show more
May 28, 2025
William Upton
Economy
TECH

Vance Addresses Bitcoin 2025: ‘There’s a New Sheriff in Town.’

PULSE POINTS:

❓What Happened: Vice President J.D. Vance addressed the Bitcoin 2025 Conference in Las Vegas, Nevada, detailing the Trump administration’s efforts to integrate digital assets into the U.S. economy and reverse Biden-era anti-cryptocurrency regulations.

👥 Who’s Involved: Vice President J.D. Vance, President Donald J. Trump, American investors, retirees, and the digital asset and financial industries.

📍 Where & When: Vance’s address occurred on Wednesday, May 28, at the Bitcoin 2025 Conference in Las Vegas, Nevada.

💬 Key Quote: “I’m here today to say loud and clear, with President Trump, crypto finally has a champion and an ally in the White House,” the Vice President declared.

⚠️ Impact: The Trump administration’s move to roll back anti-crypto regulation could ease the way for the technology’s broader adoption and use in the American economy.

IN FULL:

Vice President J.D. Vance detailed the Trump administration’s aggressive deregulation of cryptocurrencies and associated technologies in an address at the Bitcoin 2025 Conference in Las Vegas, Nevada. Speaking before attendees, Vance announced that “there’s a new sheriff in town” before emphasizing that President Donald J. Trump’s America First agenda includes a comprehensive rollback of the former Biden government’s anti-cryptocurrency regulatory actions.

“But as you know, there’s a new sheriff in town, because after four years of mistreatment and outright hostility led by Democrat regulators, lawmakers in this country have a choice,” Vance said in Las Vegas on Wednesday, May 28. He continued: “Will we lead our nation into a future of financial sovereignty, of innovation, and of prosperity? Or will we let unelected bureaucrats and foreign competitors write the rules for us?”

“And I’m here today to say loud and clear, with President Trump, crypto finally has a champion and an ally in the White House,” the Vice President declared.

Notably, Vance’s speech coincided with a move by the Trump administration earlier on Wednesday to remove Biden-era regulations barring cryptocurrency as an asset in 401(k) retirement plans—a policy goal pushed for by many in the financial and digital assets industries.

“In our administration, we understand the full potential of the digital assets industry,” Vance said, adding: “Not just as an investment, not just as a flashy technology, but as a symbol and driver of personal liberty for all our citizens.”

Since his inauguration in January, President Trump has enacted a series of significant reforms that have cleared the way for the broader adoption and use of cryptocurrencies in the American economy. In March, Trump announced the establishment of a national Bitcoin reserve with the goal of retaining an estimated 200,000 Bitcoin, mainly sourced through cryptocurrency assets already seized by federal agencies in criminal proceedings.

WATCH:

show less

PULSE POINTS:

show more
May 27, 2025
Economy
News

Trump Tariffs Revenues Soar AGAIN, Creating More Wealth for America.

PULSE POINTS:

❓What Happened: U.S. government tariff receipts for May have already surpassed $22.3 billion.

👥 Who’s Involved: President Donald J. Trump, U.S. Treasury Department.

📍 Where & When: United States, May 2023.

💬 Key Quote: “We’re going to make a lot of money [from tariffs] and that money’s going to be used to reduce taxes,” Trump said on April 23.

⚠️ Impact: Tariff revenues have surged, now representing around four percent of federal revenue overall.

IN FULL:

Tariff revenues collected by the U.S. government in May have already exceeded $22.3 billion, according to data from the Treasury Department. A significant deposit of over $16.5 billion was recorded on May 22 alone.

This spike in receipts, categorized under “Customs and Certain Excise Taxes,” has been driven by President Donald J. Trump’s trade policies, aimed at encouraging the reshoring of American manufacturing from foreign countries.

The total for May has already surpassed the $17.4 billion collected in April and the $9.6 billion in March. Since January 1, more than $92 billion has flowed into government coffers.

The surge follows the implementation of a 10 percent tariff on nearly all imports starting April 5, marking the first full month these duties were in effect. Additional tariffs on products such as steel and aluminum are in place for most countries, and some countries also face tariffs particular to them, with China paying a 20 percent tariff for its role in the U.S. fentanyl crisis, for instance.

May did see tariff reductions on many imports from China and the United Kingdom. However, despite these concessions, President Trump hinted at the possibility of further tariffs, warning on social media, “I am empowered to ‘SET A DEAL’ for Trade into the United States if we are unable to make a deal.”

The America First leader has also indicated plans for new tariffs targeting specific sectors that make important products abroad, such as semiconductors and pharmaceuticals and potentially companies like Apple and Samsung. These tariffs are part of broader efforts to reshape U.S. manufacturing and generate revenue.

Historically, tariff revenues have accounted for approximately two percent of federal revenue, with the recent surge roughly doubling that figure to around four percent.

“We’re going to make a lot of money [from tariffs] and that money’s going to be used to reduce taxes,” Trump stated on April 23.

show less

PULSE POINTS:

show more
May 27, 2025
Economy
News

Consumer Confidence in Trump Economy Surges.

PULSE POINTS:

❓What Happened: Consumer confidence in the U.S. saw a sharp rebound in May.

👥 Who’s Involved: U.S. consumers; President Donald J. Trump; The Conference Board.

📍 Where & When: United States; May 2025.

💬 Key Quote: “The rebound was already visible before the May 12 US-China trade deal but gained momentum afterwards,” said Conference Board senior economist Stephanie Guichard.

⚠️ Impact: Economic optimism has increased following President Trump’s recent trade deals.

IN FULL:

Consumer confidence in the United States experienced a notable recovery in May 2025, breaking a five-month streak of declining sentiment. The Conference Board reported Tuesday that its consumer confidence index surged by 12.3 points, rising to 98 from April’s 85.7. This marks a significant improvement from the prior month and is well above forecasted expectations of 86.

The improvement in consumer sentiment coincides with recent trade deals and policy adjustments by President Donald J. Trump. A series of tariff pauses and negotiated reductions appear to have alleviated some of the economic uncertainty stirred up by anti-tariff commentators. President Trump has also struck trade deals with Britain and China, and secured investments worth trillions of dollars from Saudi Arabia, Qatar, and the United Arab Emirates (UAE) in recent days.

The rebound in confidence suggests that Americans are beginning to feel more optimistic about the economic outlook. The data reflects a shift in public sentiment as trade tensions ease, and the tariff policy’s goal of reshoring manufacturing to the U.S. begins to bear fruit, with major businesses such as Nvidia announcing major investments in domestic production.

show less

PULSE POINTS:

show more
May 27, 2025
Economy
News

Trump Postpones 50% EU Tariff to July.

PULSE POINTS:

❓What Happened: President Donald J. Trump announced a delay in implementing a 50 percent tariff on European Union (EU) goods from June 1 to July 9 to allow time for trade negotiations.

👥 Who’s Involved: President Trump, European Commission President Ursula von der Leyen, and market analysts.

📍 Where & When: The announcement followed a Sunday phone call between Trump and von der Leyen, with Trump speaking to reporters in Morristown, New Jersey.

💬 Key Quote: “I agreed to the extension—July 9, 2025—It was my privilege to do so,” President Trump stated on Truth Social.

⚠️ Impact: The tariff threats caused market instability, with analysts warning of potential harm to global economic growth and market confidence.

IN FULL:

President Donald J. Trump announced on Sunday that the United States will postpone imposing a 50 percent tariff on goods from the European Union (EU), originally set to take effect on June 1, until July 9. Trump told reporters in Morristown, New Jersey, that the decision was made after a phone call with European Commission President Ursula von der Leyen, during which she expressed a desire to engage in “serious negotiations. ”

“I told anybody that, they have to do that,” Trump said, referring to the need for negotiations. He added that von der Leyen committed to “rapidly get together and see if we can work something out.” The America First leader later took to Truth Social, stating, “I agreed to the extension—July 9, 2025—It was my privilege to do so.”

The delay follows a social media post by Trump on Friday in which he criticized the EU for being “very difficult to deal with” on trade and claimed negotiations were “going nowhere.” The announcement of the EU tariffs came alongside a potential 25 percent tariff on iPhones produced abroad.

Von der Leyen, for her part, emphasized the importance of the U.S.-EU trade relationship, calling it “the world’s most consequential and close.” She stated that Europe is “ready to advance talks swiftly and decisively” and highlighted the necessity of using the time until July 9 to reach a beneficial agreement.

Britain, which unlike EU member states manages its own trade policy, thanks to Brexit, has already secured a trade deal with the U.S.

show less

PULSE POINTS:

show more
May 26, 2025
Economy
News

Memorial Day Weekend Sees Lowest Gas Prices in Recent Memory.

PULSE POINTS:

❓What Happened: Gas prices this Memorial Day weekend are set to be the lowest since 2021, with inflation-adjusted costs hitting their lowest since 2003 (excluding COVID years), according to GasBuddy.

👥 Who’s Involved: President Donald J. Trump’s administration, GasBuddy, and millions of American travelers.

📍 Where & When: Nationwide, Memorial Day weekend 2024.

💬 Key Quote: “If you adjust for inflation and rising wages, Americans are actually going to spend the least amount filling up this Memorial Day since 2003, excluding COVID,” GasBuddy reports.

⚠️ Impact: Americans will save on fuel costs during one of the busiest travel weekends of the year, with lower gas prices celebrated across the country.

IN FULL:

Gas prices for Memorial Day weekend are set to hit their lowest levels since 2021, with inflation-adjusted costs marking the cheapest Memorial Day fill-ups since 2003, excluding the pandemic years, according to data from GasBuddy. Millions of Americans are expected to benefit from the reduced costs as they take to the roads for the holiday weekend.

The drop in fuel prices comes after President Donald J. Trump declared a National Energy Emergency on his first day in office, initiating measures to restore American energy independence and reverse the policies of the Biden government. Trump’s actions have been credited with revitalizing the nation’s energy sector and easing the burden on American consumers.

GasBuddy highlighted the significance of the price reductions, stating, “If you adjust for inflation and rising wages, Americans are actually going to spend the least amount filling up this Memorial Day since 2003, excluding COVID.”

The energy policy shift under the Trump administration has been credited with reversing what many saw as a restrictive approach to domestic energy production under the previous administration.

President Trump has already made several moves to lower energy prices and make America more energy independent. Since taking office in January, Trump has ended Biden-era anti-coal policies and scrapped other energy regulations, saving U.S. consumers upwards of $11 billion overall.

Image by Mike Mozart.

show less

PULSE POINTS:

show more