The U.S. still intends to put a baseline tariff of 10% on many smaller countries, despite recent suggestions it could go higher, Commerce Secretary Howard Lutnick said Sunday.
Why it matters: It's a small sign of relief for the market, which has watched nervously as President Trump repeatedly suggested in recent days that baseline rates could go to 15% or even 20%.
Secretary of State Marco Rubio announced late Friday the U.S. is revoking the visa of a Brazilian Supreme Court judge who oversaw the prosecution of former President Jair Bolsonaro and briefly banned Elon Musk's X in the country.
Why it matters: President Trump has repeatedly come to the aid of right wing allies across the globe, including Bolsonaro, calling them victims of ideological witch hunts. Trump threatened to hit Brazil with 50 percent tariffs in part for prosecuting Bolsonaro for an alleged coup attempt.
Beef prices are at record highs, and industry experts tell Axios they could stay that way into 2026 and beyond.
Why it matters: Meat's high price tag is squeezing grocery budgets at the height of grilling season, and as President Trump's tariffs creep into the inflation data.
