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With President Trumps tariffs looming, companies are scrambling to figure out how to adjust their pricesespecially now that the pause doesnt apply to China, which just hit back by raising its tariffs on U.S. goods to a whopping 125%. Instead of waiting to see how they will hit, some businesses are introducing “tariff surcharges,” alerting customers in letters and adding a tariff price to websites and bills, passing those extra costs to American consumers, according to CBS News. For example, for high-end machine tools and parts, Little Machine Shop will label the cost as a tariff charge below the price on each products page, per Quartz. Nobu Yamanashi, head of Yama Seafood, a New York seafood supplier, told ABC, “What I’ve seen . . . what one of my customers say is that they might put a surcharge, a tariff surcharge, instead of changing the menu price, so that it’s very clear.” A new survey of 400 U.S. company leaders by Zilliant research firm found 44% of those businesses plan to pass tariff costs onto consumers. From automakers to chipmakers, Quartz reported that a number of companies will be imposing a tariff surcharge including, but not limited to: truck manufacturer Peterbilt; Creston, a video-conferencing solutions company; chip manufacturer Micron; SWFcontract, maker of commercial window treatments; DynaEnergetics, an equipment manufacturer for the oil and gas industry; and Honeywell Building Automation systems. Honeywell announced the tariff charges back in March, when it said it would pass a 6.4% tariff surcharge across all building-management-system products on relevant orders placed on or after March 1, but which had not shipped by March 4. The price increases also apply to luxury goods. New York magazine’s The Strategist reported knife and cookware maker Zwilling is increasing its prices. Theres just no way around it, Joanna Rosenberg, Zwillings chief sales and marketing officer, said, adding that the increase starts June 1. Last week, Labucq, a popular luxury footwear brand took to Instagram to alert customers that it was raising prices incrementally with a 10% hike on April 15, then another 10% on May 7. As tariff tensions between the U.S. and China escalate, its becoming clear that consumers will bear much of the financial burden. Whether its through quietly added surcharges or visible price hikes on everyday items and luxury goods alike, businesses are adapting quicklyand passing those costs along. With more companies expected to follow suit, the ripple effects of trade policy are already showing up on receipts, menus, and product pages across the country.
Category:
E-Commerce
Millennials were told the 2008 recession was a “once in a generation” economic crisis. Almost two decades later, déj vu has struck. While the U.S. market rose following President Trumps decision to pause global tariffs on most countriesand global banks reset their recession risk assessmentslingering fears of economic collapse are driving millennials to TikTok, where theyre passing down survival tips to Gen Z. “We don’t panic during recessions, we prepare for them,” content creator and marketer Itzett Romero said on TikTok. “Listen to your millennial friends.” @itzettromero #recession #fyp #stockmarket #stockmarketcrash #politics #economy #shoppingtips #millennial #latinacontentcreator #latinos #latinas #mexicanamerican original sound – itzettromero Romero advised her 70,000 followers to “make alliances” by sharing the cost of subscriptions and bulk grocery items with friends and neighbors. “Cannot stress buying bulk and buying EARLY,” a user commented on Romero’s video. “You don’t want to be in the store when everyone is panicking.” In a separate video, TikTok user @yaptrapped, who graduated college in 2011, also emphasized sharing. “Make friends because you can share a lot,” she said. “We survived a long time like that.” @yaptrapped Just my thoughts. #recession #millennial original sound – yaptrapped Financial advice was also widely shared across various videos. In one video, TikTok creator Rach to Riches advised that people “Build up your emergency fund, you should have three to six months of living expenses saved.” Separately, Saprina Danise, a creator focused on personal finance, said she will scale back her retirement contributions. “Anything above my minimal contribution I am diverting into my emergency fund for the foreseeable future,” she said in a video. @moneywithsaprina Replying to @FAM_embroidery heres what Im doing with my money right now Avoid Copyright – Wolf Other popular tips offered budget-friendly recipes and grocery shopping strategies. Advice included checking your fridge before heading to the store, meal-prepping with whats already in the pantry, buying meat in bulk to freeze, stocking up on shelf-stable goods like canned tuna, and cooking from scratch using dry ingredients like beans. Other millennial creators took a separate approach, simply sharing a glimpse of what life during 2008 looked like. “Working crappy retail jobs, making just barely above minimum wage, living at home with my parents,” user @sellingnwa shared on her TikTok. “On the weekends I was putting on business casual outfits and going to house parties.” She explained how jungle juicea cheap liquor concoctionwas served with no food. @sellingnwa 2008 what a time to be alive #recession #2008recession #millennial original sound – Stephanie
Category:
E-Commerce
Senators including Elizabeth Warren of Massachusetts and Chuck Schumer of New York signed a letter on Friday asking the Securities and Exchange Commission (SEC) to investigate President Trump. The move comes after the presidents April 9 Truth Social post in which he told followers it was a GREAT TIME TO BUYjust hours before announcing a 90-day pause on the sweeping international tariffs that hed enacted just days earlier. The letter urges the SEC to determine if any administration officials or insiders engaged in insider trading, market manipulation, or other securities laws violations. It also comes following a video filmed in the Oval Office of Trump explaining how much several of his guests made in the market on Wednesday. He made $2.5 billion today and he made $900 million. Thats not bad, Trump said in the video, posted by More Perfect Union on X, pointing out his friend and investor Charles Schwab as one of the beneficiaries of the intense gains the stock market made on Wednesday. U.S. stocks rose at record-breaking speeds on Wednesday as Trump paused some of his tariffs. The S&P 500 surged 9.5% in response to his announcement, marking the third-best day for the index since 1940. Questions around SEC’s ability to pursue enforcement The senators letter, addressed to SEC Chairman Paul Atkins, also poses a series of questions, including about cutbacks in staff and enforcement activity at the SEC. The questions ask explicitly about the SECs ability to monitor and respond to large-scale market events and “investigate and pursue enforcement actions. Warren posted a tweet Friday morning concerning the investigation request. Did President Trump tip off big donors or family to cash in on his tariff chaos? she wrote. Today with @SenSchumer and Senate Democrats, I officially called for an SEC investigation to find out. Presidents are not kings. Jordan Belfort, a former Wall Street stockbroker and convicted financial criminal known as the Wolf of Wall Street, told Sky News that theres no way Trump is guilty of illegal insider trading. I personally dont find it overly suspicious. Especially since hes told it to everybody at once, Belfort said in a segment of The World. White House spokesperson Kush Desai responded to Fast Companys inquiry with the following statement: It is the responsibility of the President of the United States to reassure the markets and Americans about their economic security in the face of nonstop media fearmongering, Desai said. Democrats railed against Chinas cheating for decades, and now theyre playing partisan games instead of celebrating President Trumps decisive action [Wednesday] to finally corner China. A spokesperson for the SEC declined to comment. On Thursday, Senators Adam Schiff of California and Ruben Gallego of Arizona also sent a letter, this one to White House Chief of Staff Susan Wiles and U.S. Office of Government Ethics Acting Director Jamieson Greer, requesting an urgent inquiry into whether President Trump, his family, or other members of the administration engaged in insider trading or other illegal financial transactions. A list of questions requesting information about alleged ethical violations by White House administration or members of Trumps family follows, with a deadline of April 18.
Category:
E-Commerce
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