#imports

#imports

In July, the White House called the de minimis exemption a "catastrophic loophole," claiming that it resulted in tariff evasion and made it easier to import opioids. The Biden administration also proposed steps to tighten the exemption, including removing some goods from its purview, but no big changes happened until Trump took office. On Friday, the de minimis exemption will end for the rest of the world, including regions where Americans often make smaller purchases, including Mexico, Canada, and Europe.

Today's GDP reading was stronger than expected, but much like the first quarter data-which showed a modest decline in economic activity-the details really matter. Put simply, the first quarter wasn't as bad as the headline figure implied, and this quarter isn't quite as strong as implied in the data.

If Trump carries through with his threat to hike import duties to 15% or 20%, it would breach good faith in negotiations, leading to calls for counter tariffs.

Watermelon season spans from May through September, but its peak occurs in July and August when top U.S. growing states produce the best fruit.

Trade wars and tariff uncertainty introduce volatility into the global economy. For major enterprises, especially those with complex supply chains or international footprints, this creates hesitation around IT spending.

"Consumers will see higher prices and potentially longer shipping times as Shein and others move from direct shipping to sending volumes of goods in containers to the USA to be re-sent from their USA-based warehousing."

Canada's exports to the US fell by 6.6%, and imports dropped 2.9%, highlighting a shift as Canada strengthens its trading ties with other nations.

Exports to the U.S. also dropped by 6.6 per cent but was almost compensated by an increase in exports to the rest of the world, Statistics Canada said.

Consumers will be left with fewer choices," said Skip Hulett of NatureSweet, a Texas-based company that grows most of its tomatoes in Mexico.

The U.S. government's higher tariffs on Chinese imports are drastically affecting video game companies, leading to 8BitDo halting shipments to the U.S.

"It's expensive," Kaori Wataya, a 45-year-old mother of three who cooks rice for two meals a day, said outside a supermarket in western Tokyo. "But what else can we do? ... I'm trying my best to buy."

Greater Than Games has laid off staff and suspended operations, attributing the drastic measures to Trump's tariff rate impacting goods imported from China.

The army of millions and millions of human beings screwing in little screws to make iPhones, that kind of thing is going to come to America, said Commerce Secretary Howard Lutnick.