Guestbook

Donaldson

02 Jun 2025 - 09:33 am

President Donald Trump speaks to reporters at the White House in Washington, DC, on January 30. Chip Somodevilla/Getty Images
CNN
—
Just about everyone thought it was a bluff. Top analysts from the biggest banks on Wall Street said it was highly unlikely. Stocks were trading like it wouldn’t happen. Some companies built contingency plans, but they weren’t exactly rushing to make changes.
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But the tariffs are coming — in full force. President Donald Trump announced Saturday that a massive 25% tariff on all goods from Mexico and most imports from Canada will go into effect Tuesday. An additional 10% tariff on Chinese goods will be enacted the same day.

Trump in a message posted on Truth Social Sunday said, “We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use.” But America’s supply chains are reliant on its trading partners, and even for goods that could be grown or produced exclusively in the United States, the complex web of interconnected global trade cannot easily be unwound.
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So the additional costs on foreign-made goods will be paid by American importers, who typically pass those costs onto retailers, who pass them onto inflation-weary consumers. That means prices will rise — although, for most items, not immediately. Businesses’ profits will be squeezed as they bear the cost burden of the tariffs or pay to adjust their carefully constructed and at times inflexible supply chains.

That’s why stocks on Monday were set to tumble. Dow futures were more than 600 points, or 1.3% lower. S&P 500 futures sank 1.5%. and Nasdaq futures were 1.7% lower.

Globally, stocks fell, too. Major European indexes were down across the board, and Asian markets closed sharply lower. Bitcoin and other cryptos tumbled, brought down by growing fears of a recession. The US dollar rose sharply.

Energy costs surged: US crude oil rose 2.3% and natural gas spiked 7%. Despite a lower 10% tariff on Canadian electricity, natural gas and oil exports to the United States, the energy industry said it will not be able to quickly or easily find alternate sources. Diesel and jet fuel costs in particular will rise, according to Angie Gildea, the US energy sector lead at accounting firm KPMG, adding costs to all shipped goods and air travel.
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“Any infrastructure upgrades would not happen overnight,” Gildea told CNN. “Tariffs on Canadian oil would increase costs for US refiners, leading to price hikes for consumers.”

Auto industry stock futures were particularly hard-hit, because virtually all American-made cars are manufactured at least in some part in Mexico or Canada — what was a free-trade zone. GM (GM) fell more than 6%, Jeep and Chrysler maker Stellantis (STLA) was down 5% and Ford (F) fell more than 3%.

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Danieltramn

01 Jun 2025 - 04:59 pm

Summer this year presents amazing opportunities for budget-conscious travelers chasing unforgettable experiences without breaking the bank.
To maximize value, think about destinations and strategies that balance affordability with adventure.
Eastern Europe, like Poland or Hungary, is a gem—vibrant cities like Krakow or Budapest deliver rich history, stunning architecture, and delicious cuisine at a portion of Western Europe’s costs.

Hostels and Airbnb rentals start at $20–$30 per night, and hearty meals cost under $10. Southeast Asia, including Vietnam and Thailand, stays a top fave for tropical vibes.
Consider Hanoi’s bustling markets or Chiang Mai’s serene temples, with street food at $1–$3 and guesthouses around $15.

For North Americans, Mexico’s Riviera Maya blends pristine beaches with cultural sites like Tulum, where all-inclusive deals begin at $80/night.
Reserve flights early, use fare alerts, and go for public transport to save. Traveling off-peak (June or late August) trims costs further.
With clever planning, your summer escape can be both affordable and awesome!
Get your value-for-money travel right now!

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01 Jun 2025 - 12:25 am

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