Heading into this year, most U.S. farmers were hoping to break even or maybe record a small profit. But now they are faced with losing the biggest export market for many of their crops after China retaliated against President Donald Trump’s tariffs.
The so-called de minimis exemption allowed Chinese and Hong Kong retailers to ship millions of packages worth $800 or less directly to U.S. consumers. That loophole will close May 2.
Wall Street’s worst crisis since COVID-19 slammed into a higher gear. The S&P 500 plummeted 6 percent Friday, the Dow Jones Industrial Average plunged 5.5 percent and the Nasdaq composite dropped 5.8 percent. The losses came after China matched President Donald Trump’s big raise in tariffs announced earlier this week.
A trip to the grocery or liquor store is about to become even more expensive, economists say. From seafood to olive oil, these items will likely cost more under President Trump's tariffs.
Financial markets around the world reeled following President Donald Trump’s latest and most severe set of tariffs, and the U.S. stock market took the worst of it.
Minnesota was scheduled to receive an additional $12 million to $13 million in LIHEAP funds to help another 10,000 households. If that payment is delayed, the program could run out of money by mid-April.
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