"If we are able to make the deal with Mexico, & there is a good chance that we will, they will begin purchasing Farm & Agricultural products at very high levels, starting immediately. If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!"
The backdrop: White House officials have signaled that progress was being made in talks between the U.S. and Mexico, which have stretched into their third day, per WSJ. Mexico has reportedly proposed placing its troops along the border, though U.S. officials are keen to assert a "remain-in-Mexico" policy for central American migrants seeking asylum north of the border.
The U.S. economy added just 75,000 jobs in May, fewer than the 175,000 economists were expecting. Unemployment held at 3.6%, a 50-year low, the Labor Department said Friday.
Why it matters: Job growth screeched to a near halt at a time when every scrap of data is seen as make-or-break by people watching for cracks in the current period of economic expansion, which is on pace to be the longest in U.S. history.
The U.S. economy added just 75,000 jobs in May, fewer than the 175,000 economists were expecting. Unemployment held at 3.6%, a 50-year low, the Labor Department said Friday.
Why it matters: Job growth screeched to a near halt at a time when every scrap of data is seen as make-or-break by people watching for cracks in the current period of economic expansion, which is on pace to be the longest in U.S. history.
The collapse of the mega-merger between Fiat-Chrysler and Renault was the latest piece of bad news for lawyers, advisers and other middlemen who make their living brokering corporate tie-ups.
Why it matters: M&A's slowdown this year has been particularly bad for deals involving companies based in different countries, and shows another way globalization's retreat is draining revenue, even from fast-growing segments of the economy.
Multiple U.S. trade conflicts — with China, Mexico and, waiting their turn, Europe, Japan and Canada — are roiling the world economy. But one or more of them is still likely to be on the boil late next year, when President Trump faces a possibly tough re-election.
Quick take: Experts queried by Axios say Trump is likely to want to keep needling trade grievances through Election Day next year as evidence that the U.S. faces a showdown in which only he is equipped to prevail.
If Walmart CEO Doug McMillon's public challenge to Congress to raise the federal minimum wage from $7.25 turns into reality, it could be a big boon for the retail giant.
What's happening: McMillon issued his call yesterday at Walmart's annual shareholder's meeting, saying the federal rate was "lagging behind." Among the upsides of such a move for Walmart...
But, but, but: "Media freedom can recover much more quickly after a period of authoritarian governance than some other elements of democracy, such as the rule of law," the report notes.
The Federal Communications Commission voted on a ruling Thursday that would combat robocalls that spoof legitimate, in-service numbers and provide a legal framework for phone carriers to carry out the action.
Why it matters: It's one of the most complained-about issues in America. The FCC gets roughly 200,000 complaints each year about robocalls. Nearly 48 billion robocalls were made in 2018, according to YouMail Robocall Index.
Peloton, the connected fitness company, said that it filed confidential IPO paperwork. No specifics were disclosed, but word is that Goldman Sachs and J.P. Morgan are lead bankers, with plans to price the offering in September.
Why it matters: Peloton may be first out of the gate for the post-Labor Day IPO rush, and will confound analyst "buckets." It's a hardware maker that's also a subscription content creator that's also a streaming software company that also does its own last-mile logistics. CEO John Foley is known to prompt cynical chuckles by calling Peloton the next Apple, but it's hard to think of a much better comp.
Fox News host Tucker Carlson praised 2020 Democratic candidate Sen. Elizabeth Warren's "economic patriotism" plan during his Wednesday show, quoting the policy at length before saying "she sounds like Donald Trump at his best."
The big picture: Carlson emphasized that he believes most Republicans would agree with the elements of Warren's proposal that deal with "creating and defending good American jobs," saying that many of her policies "make obvious sense."
They're baaa-aack: Kars4Kids has cast another commercial, and the iconic jingle that has drawn such ire will likely remain the same, as the controversial nonprofit gears up for a new marketing push.
Why it matters: Kars4Kids, which saw contributions soar after its nationwide TV commercial debuted in 2014, owes a lot of its success to TV and radio advertising. But most people don't know that the charity's primary goal is to encourage secular Jews to become more religious, which it does through a summer camp in the Catskills and other programs.
President Trump told reporters on Thursday he could raise China tariffs by "at least" another $300 billion of tariffs, Reuters video shows.
"Our talks with China, a lot of interesting things are happening. We’ll see what happens... I could go up another at least $300 billion and I’ll do that at the right time, but I think China wants to make a deal and I think Mexico wants to make a deal badly."
Congress has received notification of a potential $2 billion U.S. sale of tanks and other weapons to Taiwan, Reuters first reported Wednesday, citing 4 sources who spoke on condition of remaining anonymous.
Details: Bloomberg reports the Pentagon and State Department outlined to Congress the deal would include a resupply of anti-air and anti-armor weapons and the first-time sale of the U.S. Army’s the M1A2 tank, described as the "backbone of the armored forces."
