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Category: Economy
April 2, 2025
William Upton
Economy
World

‘Liberation Day’ and Trump’s Reciprocal Trade Tariffs Explained.

PULSE POINTS:

❓What Happened: President Donald J. Trump is set to unveil his reciprocal tariff policy aimed at ending unfair trade practices used by other nations against the United States.

👥 Who’s Involved: President Trump, numerous countries, and leaders around the world.

📍 Where & When: “Liberation Day” press conference at the White House’s Rose Garden on Wednesday, April 2 at 4PM EST.

💬 Key Quote: “For the first time in decades, the United States will see fair trade as President Donald J. Trump announces tariffs to level the playing field for American workers and businesses,” the White House said on Wednesday.

⚠️ Impact: The Trump White House argues the tariffs will push foreign countries to reduce their own trade barriers against the United States eventually, but until they do, Americans will benefit from the increased revenue from import duties. Other world leaders say they fear the move will kick off a large-scale trade war.

IN FULL:

President Donald J. Trump will announce his reciprocal tariff policy today during a 4:00PM “Liberation Day” press conference at the White House’s Rose Garden. Despite intense media, corporate, and investor interest in how the tariffs will be structured, few details have emerged before the afternoon announcement. However, White House press secretary Karoline Leavitt did state on Tuesday that the trade levies would be “effective immediately” following the Rose Garden event.

The White House has framed the tariff measures as a means to “free” American workers and domestic industries from unfair import duties and other trade restrictions enacted by foreign nations, forcing the United States to run a trade deficit. President Trump has repeatedly emphasized that the lack of action by past American leaders has resulted in the U.S. being “ripped off” by its major foreign trade partners.

While critics of Trump’s aggressive America First trade policy have tried to paint the reciprocal tariffs as overly broad—arguing instead for smaller, more targeted measures—only around 10 to 20 countries will be significantly impacted. Only around 15 foreign nations—who impose high tariff barriers against the U.S. but enjoy most of the U.S. trade volume—account for the entirety of America’s trillion-dollar trade deficit.

Although the White House has kept the actual rates at which the reciprocal tariffs will be imposed under a tight lid, based on recent revenue estimates cited by Trump administration officials, they are likely to be pegged at 10 percent, 25 percent, or 35 percent. Notably, the higher rate estimates account for the Trump administration including other foreign trade restrictions—such as the European Union’s value-added tax (VAT)—in their reciprocal tariff calculations.

The other central question surrounding reciprocal tariffs is whether they will be blanket—covering all exports from the nation they’re imposed on—or sector-based, targeting specific foreign industries instead. A blanket tariff could risk significant retaliation against U.S. exports by the targeted countries, though the substantial economic pressure they’d create may also force foreign leaders to quickly move to drop trade barriers in order to end the U.S. import duties. Meanwhile, industrial sector-based tariffs would give the Trump administration a degree of flexibility, allowing for the strategic targeting of foreign industries—though more targeted trade levies may have less of an economic and political impact overall.

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April 1, 2025
William Upton
Economy
World

Trump Says Plans Are Set for Reciprocal Tariff Roll Out on Wednesday, ‘Liberation Day.’

PULSE POINTS:

❓What Happened: President Donald J. Trump will unveil his administration’s reciprocal tariff policy on Wednesday.

👥 Who’s Involved: President Trump, numerous countries, and leaders around the world.

📍 Where & When: “Liberation Day,” Wednesday, April 2.

💬 Key Quote: “The president has a brilliant team of advisers who have been studying these issues for decades, and we are focused on restoring the golden age of America and making America a manufacturing superpower.” — White House press secretary Karoline Leavitt.

⚠️ Impact: The Trump White House argues the tariffs will push foreign countries to reduce their own trade barriers against the United States eventually, but until they do, Americans will benefit from the increased revenue from import duties. Other world leaders say they fear the move will kick off a large-scale trade war.

IN FULL:

President Donald J. Trump says the United States’ plans to impose reciprocal tariffs on Wednesday are ready and will be rolled out as part of what the America First leader has dubbed “Liberation Day.” The President will unveil the tariffs—which the White House says will take effect immediately—during a 4:00 PM news conference in the Rose Garden.

“That word reciprocal is very important,” Trump said during a press event in the Oval Office on Monday. He continued: “What they do to us, we do to them.” Meanwhile, during Tuesday’s press briefing, White House press secretary Karoline Leavitt told the media that President Trump has settled on the structure of the reciprocal tariff plans and was meeting with his trade advisor on “perfecting it.” Leavitt added that Trump is “always up to take a phone call” from foreign leaders who are willing to drop their barriers to U.S. imports, but at this juncture, the President is “very much focused on fixing the wrongs of the past.”

“The president has a brilliant team of advisers who have been studying these issues for decades, and we are focused on restoring the golden age of America and making America a manufacturing superpower,” Leavitt stated.

While globalists and anti-Trump politicians have tried to paint the reciprocal tariffs as an unprecedented and broad assault on global trade, the reality is that most countries will not notice significant changes. However, President Trump’s Treasury Secretary, Scott Bessent, has warned that around 15 percent of countries—who impose high tariff barriers against the U.S. but enjoy most of the U.S. trade volume—will see significant economic disruptions. Bessent called this collection of nations the “Dirty 15.”

There are estimated to be between 10 and 20 countries that account for the United States’s entire trillion-dollar trade deficit. U.S. government data from the Department of Congress suggests these nations and blocs likely include China, Mexico, Vietnam, Ireland, Germany, Taiwan, Japan, South Korea, Canada, India, Thailand, Italy, Switzerland, Malaysia, Indonesia, France, Austria, and Sweden.

While the tariff rate is not yet known—there is speculation that, on average, countries will likely see a 20 percent tariff on their exports to the U.S.

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April 1, 2025
Economy
News

Hooters Declares Bankruptcy.

PULSE POINTS:

❓What Happened: Hooters, a restaurant chain known for its chicken wings and servers in distinct outfits, filed for bankruptcy in Texas.

👥 Who’s Involved: The company founders, current owners, and a private equity firm are involved in the bankruptcy proceedings.

📍 Where & When: The filing was announced on Monday in Texas.

💬 Key Quote: “Our renowned Hooters restaurants are here to stay,” stated the company in its announcement.

⚠️ Impact: The filing aims to maintain operations and transfer company-owned locations to franchise status.

IN FULL:

Hooters, a restaurant chain recognized for its chicken wings and buxom serving staff, has filed for bankruptcy in a Texas court, as announced by the company on Monday. The bankruptcy agreement puts forth a plan where the company’s founders, who oversee about a third of the independent franchise locations in the U.S., are set to purchase U.S.-based company-owned restaurants from the existing private equity owner.

The restructuring plan intends to facilitate the popular chain’s ongoing operations and keep many locations open. “Our renowned Hooters restaurants are here to stay,” the company said in a statement following the bankruptcy announcement. “It’s always hang time at Hooters.”

Hooters founder Neil Kiefer stresses that the restaurant chain will undergo a significant rebrand, however. Derisively dubbed a “breastaurant,” the chain will be reimagined as a more family-friendly venue. Kiefer notes that its Clearwater, Florida flagship—where the chain was founded—has long embraced a more family-focused theme than most of its franchises across the country. “You go to some parts of the country and people say, ‘Oh, I could never go to Hooters, my wife would kill me,’” Kiefer said in a recent media interview. “That’s depressing to us. We want to change that.”

Hooters operates over 400 locations across 42 states and 29 countries. Franchised locations, including those internationally situated, are not impacted by the bankruptcy. The company plans for all remaining sites to transition into franchises following the proceedings. Rumors of the bankruptcy filing have been circulating for several months, amid recent closures of several Hooters establishments last year.

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March 31, 2025
Economy

CA Drops 173K Private Jobs, Adds 181,000 Govt Workers.

PULSE POINTS:

❓What Happened: California experienced a loss of 173,000 private sector jobs since January 2023, which was offset by a gain of 181,100 government and government-supported roles, many of which are part-time.

👥 Who’s Involved: Affected groups include elderly and disabled individuals employing household members with state funds, and the California Center for Jobs and the Economy (CCJE), which provided the data.

📍 Where & When: The changes occurred in California from 2023 to 2025, with ongoing implications for future fiscal years.

💬 Key Quote: CCJE noted, “California’s job growth has been dominated by government and government-dependent jobs in Healthcare & Social Assistance.”

⚠️ Impact: The state’s economy is seeing a shift towards government-subsidized jobs, potentially straining public resources as it faces a looming budget deficit.

IN FULL:

California’s employment landscape has shifted dramatically since 2023, according to a new report from the California Center for Jobs and the Economy (CCJE). Over two years, the state lost 173,000 private sector jobs, only offsetting the losses with 181,100 public sector government jobs and government-supported roles. Notably, a large proportion of the public sector employment is part-time, funded by the state to provide care services to the elderly and disabled.

The study revealed that 124,800 newly supported roles fall within health care and social assistance, with a significant chunk—55 percent—concentrated in the government’s household care program. These positions often involve familial care arrangements. Meanwhile, hourly wages in California have seen an uptick. However, the average hours worked have dwindled. This suggests that companies are reducing labor hours, a decision likely influenced by the state’s sector-based minimum wage increase.

According to the CCJE data, only the green energy and transportation sectors showed growth outside of the public sector—though even those jobs are still government-supported through regulatory mandates or direct subsidization. Critically, the report questioned the quality of the new jobs, pointing out that taxpayer-funded employment is not always a route to often-promised “good-paying” jobs but is mainly minimum wage, part-time, and short-term.

Meanwhile, the Legislative Analyst’s Office (LAO) forecasts a growing fiscal burden due to these employment trends. The In-Home & Supportive Services (IHSS) program, enabling seniors and disabled individuals to pay household members for services, will require a $28.5 billion budget in the upcoming fiscal year. With in-home care demand rising, the strain on public funds will likely increase, particularly as California anticipates demographic shifts such as a rising senior population.

By 2026, the state’s budget is set for a $20 billion deficit, which could escalate to $30 billion by the decade’s end.

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March 27, 2025
Economy
World

REPORT: US Halts Funding to WTO.

IN BRIEF:

❓What Happened: The United States has halted its payments to the World Trade Organization as part of President Trump’s effort to curb international spending.

👥 Who’s Involved: President Donald Trump, U.S. delegates to the WTO, WTO officials, and trade representatives.

📍 Where & When: Geneva; the funding pause began in early 2025, with arrears building since late 2024.

💬 Key Quote: “Generally, arrears can impact the operational capacity of the WTO Secretariat… [we] have plans in place to operate within the financial limitations imposed by any arrears.” — WTO spokesman Ismaila Dieng

⚠️ Fallout: The U.S. now owes over $25 million, is in “Category 1 arrears,” and has lost privileges such as presiding over WTO bodies. The WTO is quietly preparing contingency plans.

🔎 Why It Matters: This deepens the Trump administration’s retreat from global institutions and could weaken the WTO’s ability to manage global trade disputes if prolonged.

IN FULL:

According to sources, the United States has frozen its financial contributions to the World Trade Organization (WTO). The payments have been suspended pending a review of Washington’s support for international organizations.

The freeze aligns with President Donald J. Trump’s America First policy agenda. During his first term, Trump attempted to reform the WTO alongside Japan and the European Union. Now, his administration appears intent on sidelining the Geneva-based body by cutting off funding entirely.

The U.S. was expected to contribute around 11 percent of the WTO’s $232 million annual budget. However, as of December 2024, under the former Biden-Harris regime, Washington already owed around $25.7 million.

Due to the unpaid dues, the United States has been downgraded under WTO rules. This means its representatives can no longer chair WTO bodies or access certain official documents.

The WTO’s spokesman, Ismaila Dieng, confirmed that the Secretariat is managing resources prudently and preparing contingency plans for continued financial pressure. However, if the pause in U.S. contributions persists, it could have broader consequences for the organization’s operational capacity.

“The Secretariat continues to manage its resources prudently and has plans in place to operate within the financial limitations imposed by any arrears,” Dieng said.

The White House and the U.S. mission in Geneva have yet to publicly acknowledge the funding freeze. However, sources familiar with a private WTO budget meeting held on March 4 said the U.S. delegation provided no timeline for a final decision. If left unresolved, the U.S. funding gap could further destabilize the WTO. The administration is also pushing to withdraw from the World Health Organization (WHO) and has slashed support for multiple other international bodies.

Official White House Photo by Molly Riley.

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March 26, 2025
William Upton
Data
Economy

DATA: Historically High Number of Americans Say Country on the Right Track Under Trump.

Several recent public opinion polls show a historically high number of Americans think the country is on the right track. A recent NBC poll shows 44 percent of respondents saying the country is headed in the right direction—the highest number recorded since 2004—and a Marist poll shows 45 percent saying we’re on the right track—the highest number since 2009.

The opinion surveys, along with recent hard economic data, directly contradict the corporate media narrative that sliding consumer confidence signals an imminent recession. Instead, the data would appear to suggest that recent declines in consumer confidence are being driven by the said corporate media narrative and not economic realities.

“Let’s take a look at the percentage of the country who say that we’re on the right track. It’s actually a very high percentage when you compare it to some historical numbers,” CNN data guru Harry Enten noted during a recent segment. “What are we talking about? According to Marist, 45 percent say we’re on the right track. That’s the second highest that Marist has measured since 2009.”

“How about NBC News? Forty-four percent. That’s the highest since 2004!” Enten exclaimed. “The bottom line is the percentage of Americans who say we’re on the right track is through the roof.”

The CNN data reporter said the current polling is above the number seen when incumbents are usually re-elected, suggesting Republican candidates could perform fairly well during the 2026 midterms if voter sentiment about the country’s direction remains positive.

Earlier on Wednesday, The National Pulse reported that demand for durable goods increased for the second straight month, signaling that the economy continues to be strong despite the baseless corporate news reports claiming a recession is on the horizon.

WATCH: 

Image by Gage Skidmore.

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Several recent public opinion polls show a historically high number of Americans think the country is on the right track. A recent NBC poll shows 44 percent of respondents saying the country is headed in the right direction—the highest number recorded since 2004—and a Marist poll shows 45 percent saying we're on the right track—the highest number since 2009. show more
March 26, 2025
William Upton
Economy

Trump Egg Prices Down Nearly 60 Percent Since Last Month.

Wholesale egg prices continue to fall, with costs down 59 percent from February. Last month, President Donald J. Trump‘s Department of Agriculture (USDA) took action to put downward pressure on egg prices, including a surge of resources to combat avian flu outbreaks among the U.S. poultry population.

“Gasoline’s way down. Eggs are way down. Groceries are down, very substantially. Almost everything is down,” President Trump said yesterday evening at the White House. “Now I’d like to see interest rates come down a little bit, and you’re going to see billions of dollars, even trillions of dollars, coming into our country very soon in the form of tariffs.”

While wholesale prices have fallen, the Trump administration and industry experts caution that it could still take some time for consumers to see changes in their retail prices. The cost of eggs began to climb rapidly late last year as large-scale poultry cullings impacted egg producers due to the spread of bird flu on chicken farms. These measures significantly restricted the supply of eggs, which caused a rapid increase in cost. Price increases were further exacerbated by a spike in demand due to consumer fears that prices would rise further.

In addition to allocating further resources to end avian flu outbreaks, the Trump administration has cleared the way for new imports of eggs from designated countries, including Brazil. The alleviation of supply constraints should help drive down prices further.

Secretary of Agriculture Brooke Rollins noted earlier this month that the measures have already contributed—for instance—to a 50 percent drop in wholesale prices in New York State.

WATCH:

 

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Image by Pietro Izzo.

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Wholesale egg prices continue to fall, with costs down 59 percent from February. Last month, President Donald J. Trump's Department of Agriculture (USDA) took action to put downward pressure on egg prices, including a surge of resources to combat avian flu outbreaks among the U.S. poultry population. show more
March 26, 2025
William Upton
Data
Economy

Surge in Durable Goods Demand Signals Strong Trump Economy.

New data shows durable goods orders have risen for a second straight month, drastically beating expectations. The increase in demand, combined with the resilient job market and rising wages, suggests the corporate media narrative playing up fears of a recession is likely influencing negative consumer surveys and polling more than economic reality.

Durable goods orders were up 0.9 percent in February, beating expectations of a one percent decline. The increase was predominantly fueled by a surge in demand for industrial equipment and consumer goods like computers, appliances, and automobiles. Excluding transportation equipment, durable goods orders were up 0.7 percent, suggesting broad-based industrial strength continues.

Notably, computer and appliance demand was up 1.1 percent and two percent, respectively. Meanwhile, machinery demand was up 0.2 percent, and automobile demand was up a stunning four percent. With January’s data revised to a 3.3 percent increase, this suggests that overall, the U.S. manufacturing rebound is far stronger than indicated by consumer confidence surveys and business expectations surveys.

The new data should allay growing concerns over a potential recession. Economic downturns typically do not occur when demand surges and the job market remains robust.

Additionally, the durable goods data indicates the Trump White House’s trade tariffs are not depressing consumer demand overall. While the reciprocal tariffs will take effect next week, markets have predominantly priced in the increased costs, which appear to have had negligible impact on purchasing.

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New data shows durable goods orders have risen for a second straight month, drastically beating expectations. The increase in demand, combined with the resilient job market and rising wages, suggests the corporate media narrative playing up fears of a recession is likely influencing negative consumer surveys and polling more than economic reality. show more
March 24, 2025
Economy
News

Trump Secures $21 Billion Hyundai Investment, New Steel Mill Planned.

President Donald J. Trump’s tariff policies have secured a major investment from Korean automaker Hyundai. At least $5.8 billion will be invested in a new steel plant in Louisiana. Announced Monday, March 24, the endeavor is part of a broader commitment by the South Korean automaker, which plans to channel $21 billion into various U.S. projects over the next few years.

The new plant is forecast to produce 2.7 million metric tons of steel annually. It will also provide over 1,400 jobs, bolstering local employment. According to President Trump, this facility marks Hyundai’s inaugural steel production venture on U.S. soil and will support its automotive manufacturing operations in Alabama and Georgia.

Trump linked Hyundai’s hefty investment to the efficacy of U.S. tariff policies, suggesting that these duties have played a pivotal role in attracting foreign manufacturing and investment. He highlighted that Hyundai’s future output would be cultivated on American ground, thus bypassing any tariffs that would apply if production were based overseas.

Further details provided by President Trump indicated significant expansions for Hyundai beyond just the steel sector. The carmaker intends to amplify its automobile manufacturing capabilities in Georgia and propel investments into cutting-edge U.S. tech enterprises.

President Trump’s tariffs are expected to come into full effect on April 2, a day the President has referred to as “Liberation Day.” He also called for the Federal Reserve to cut interest rates as the tariffs come into force, arguing it would ease the transition of the American economy.

WATCH:

Image by Gage Skidmore.

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President Donald J. Trump's tariff policies have secured a major investment from Korean automaker Hyundai. At least $5.8 billion will be invested in a new steel plant in Louisiana. Announced Monday, March 24, the endeavor is part of a broader commitment by the South Korean automaker, which plans to channel $21 billion into various U.S. projects over the next few years. show more
March 21, 2025
William Upton
Economy

This Country Just Pledged to Invest $1.4 Trillion in the U.S. After Meeting Trump.

A $1.4 trillion investment framework in the United States has been agreed with the United Arab Emirates (UAE) after top leaders from the Gulf state met with President Donald J. Trump at the White House earlier this week. According to the White House, the agreement will see a significant increase in existing UAE investments in the American economy—with a focus on artificial intelligence (AI), semiconductors, and energy technologies.

“The evening demonstrated the long-standing ties and bonds of friendship between our countries. UAE and the U.S. have long been partners in the work to bring peace and security to the Middle East and the World,” President Trump said after his Tuesday meeting with UAE National Security Advisor H.H. Sheikh Tahnoon bin Zayed Al Nahyan. He added: “Discussions also included ways for our countries to increase our partnership for the advancing of our economic and technological futures.”

The leadership of several UAE sovereign wealth funds and corporations joined President Trump and Sheikh Tahnoon bin Zayed.

The framework commits the UAE to several significant American technology investments, including a $25 billion joint venture between the UAE investment fund ADQ and U.S. partner Energy Capital Partners to expand U.S. energy infrastructure and data centers. Additionally, XRG—an energy investment firm owned by the state-owned Abu Dhabi National Oil Co. (ADNOC)—has committed “to support U.S. natural gas production and exports with an investment in the Next Decade LNG export facility in Texas.” Meanwhile, Abu Dhabi Developmental Holding Company (ADQ) will form a $1.2 billion mining partnership with Orion Resource Partners aimed at extracting critical minerals.

Other investments include the construction of an aluminum smelter and an AI Infrastructure Partnership, which aims to mobilize $100 billion in investments to build next-generation data centers.

Image by Gage Skidmore.

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A $1.4 trillion investment framework in the United States has been agreed with the United Arab Emirates (UAE) after top leaders from the Gulf state met with President Donald J. Trump at the White House earlier this week. According to the White House, the agreement will see a significant increase in existing UAE investments in the American economy—with a focus on artificial intelligence (AI), semiconductors, and energy technologies. show more