The Economist
President Trump’s erratic approach to trade has taken the US economy in new directions. He has discarded decades of efforts to lower barriers globally, instead imposing hefty import taxes — tariffs — on products from almost every country on the planet. Mainstream economists warn that the costs will eventually be passed along to Americans, businesses and households. But markets have been resilient so far. Investors believe each threat from the White House is just an opening move in a negotiation, so they are not reacting to tariff announcements and suspensions as if they were a done deal.
The economy grew this spring, according to government data released Friday. But there were some signs that the recovery has been slowing. And that has some experts worried about the future.
Many Americans worry that they will not be able to afford retirement, according to a new survey. NPR explores the reasons behind those fears.
In this week’s economic news, we find that prices for goods like dog food and leashes are rising faster than services such as grooming and medical care. That’s a result of higher commodity prices and the effect of President Trump’s global tariffs.
And while the unemployment rate is low, some people say they have not been able to find a job. We look at what it means for the economy, and why some people are still struggling to get a good paying job. We also examine how a company that makes Xbox video games plans to cut jobs after it takes over the Activision Blizzard division.