Your Memorial Day cookout might be more expensive this year – thanks to tariffs
CNN
Memorial Day marks the unofficial start to summer, but this year, it may also kick off a season of higher prices.
Memorial Day marks the unofficial start to summer, but this year, it may also kick off a season of higher prices. Small businesses that sell beer, fireworks and other summer staples told CNN they are grappling with higher costs amid new tariffs that the Trump administration placed on nearly all imports to the United States last month. Here’s what you should know. While many economists expect prices to rise from President Donald Trump’s tariffs, it’s certainly true that not all items are seeing price increases — yet. In fact, US inflation in April slowed to its lowest rate in more than four years. That means some summer products may still be spared from an inflationary squeeze as tariffs work their way through the economy, said Ernie Tedeschi, the former chief economist at the White House Council of Economic Advisers during the Biden administration and the director of economics at the Budget Lab at Yale University, which has been tracking the tariff impact on consumers. But if you’re planning a cookout, tariff-induced price increases could hit your grocery bill sooner than other price hikes.
Prepare for automotive sticker shock next year – again.
Constellation Brands, the US owner of Modelo Especial and Corona, bet big on Latino customers for growth. But that strategy is unraveling under the Trump administration’s mass deportation push.
The European Union agreed Wednesday to phase out Russian natural gas imports by late 2027 as part of an effort to end the bloc’s decade-long dependency on Russian energy.
US wireless carrier AT&T said in a letter to the US telecoms regulator that it had committed to ending diversity, equity and inclusion programs, a move that comes as it seeks approval from the Trump administration to buy wireless spectrum assets.
Larry Summers has been banned for life from the American Economic Association, a professional organization for economists, with more than 17,000 members, over his ties to the late sex offender Jeffrey Epstein.
The US labor market has weakened over the course of the year as hiring has stalled across many industries. The national unemployment rate has ratcheted higher in the process, hitting 4.4% in September.
Michael and Susan Dell are donating $6.25 billion to fund investment accounts for at least 25 million American children.
Gas prices dropped below an average of $3 a gallon in the United States on Tuesday for the first time in four-and-a-half years.
The United States appears ready for war with Venezuela, a prospect that Venezuelan President Nicolás Maduro this weekend attributed to America’s desire to control the country’s vast oil reserves.
Pete Hegseth’s hostility toward the press has been a defining characteristic of his time as defense secretary.
Crypto had a rough November. The pain is persisting into December — and it could signal trouble ahead for the stock market.
Airbus has identified an issue affecting “a limited number” of metal panels in its A320 passenger planes, a spokesperson for the company said Monday, just days after warning of another technical problem in its aircraft.
Teddy bears and stuffed plushies have long been a mainstay in toy collections. But today they don’t talk back in a child’s imagination — they talk through built-in AI chatbots.