Welcome to Trump’s tariff era. It’s going to be a bumpy ride
PeterUncom
(18.07.2025 06:44:35)
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. блэк спрут onion 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. блекспрут 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. bslp.at https://bs-me.at “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.
A budget to ‘destroy clinical research’
Stanleymox
(18.07.2025 06:44:34)
Following court decisions that blocked some NIH grant cancellations or rendered them “void” and “illegal,” NIH official Michelle Bulls in late June told staffers to stop terminating grants. However, NCI workers told KFF Health News they continue to review grants flagged by NIH to assess whether they align with Trump administration priorities. Courts have ordered NIH to reinstate some terminated grants, but not all of them.
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At NCI and across NIH, staffers remain anxious.
The White House wants Congress to slash the cancer institute’s budget by nearly 40%, to $4.53 billion, as part of a larger proposal to sharply reduce NIH’s fiscal 2026 coffers.
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Bhattacharya has said he wants NIH to fund more big, breakthrough research. Major cuts could have the opposite effect, Knudsen said. When NCI funding shrinks, “it’s the safe science that tends to get funded, not the science that is game changing and has the potential to be transformative for cures.”
Usually the president’s budget is dead on arrival in Congress, and members of both parties have expressed doubt about Trump’s 2026 proposal. But agency workers, outside scientists, and patients fear this one may stick, with devastating impact.
It would force NCI to suspend all new grants or cut existing grants so severely that the gaps will close many labs, said Varmus, who ran NCI from 2010 to 2015. Add that to the impact on NCI’s contracts, clinical trials, internal research, and salaries, he said, and “you can reliably say that NCI will be unable to keep up in any way with the promise of science that’s currently underway.”
The NCI laboratory chief, who has worked at the institute for decades, put it this way: “If the 40% budget cut passes in Congress, it will destroy clinical research at NCI.”
KFF Health News Correspondent Rae Ellen Bichell contributed to this report.
KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs at KFF — the independent source for health policy research, polling, and journalism.