Money Talks News: Highest Tariff Rates Since 1935 Threaten to Eliminate 480,000 American Jobs
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Money Talks News: Trump’s Tariffs Could Send Your Insurance Premiums Skyrocketing [Video]
President Trump’s trade policies are creating a perfect storm for the insurance industry and policyholders alike.
MSNBC: Farmers struggle amid rising costs and Trump’s tariffs: ‘We’ve got a real disaster’ [Video]
Hundreds of farmers in Arkansas gathered at a town hall last week to ask Congress for help over mounting debt, aging equipment and disappearing profits. One soybean farmer in the state, Scott Brown, joins Katy Tur to share how. President Trump’s tariffs are impacting his business.
Slingshot News: ‘You Guys Got Hit’: Trump Insults Disabled Military Veterans And Their Injuries In Front Of Reporters From The Oval Office
President Donald Trump insulted wounded and disabled Military veterans and their injuries during a tirade from the Oval Office earlier this year.
Slingshot News: ‘Goodbye’: Trump Abruptly Ends Executive Order Signing After Being Pressed On Blackmailing Other Countries With Tariffs [Video]
President Donald Trump abruptly ended an executive order signing earlier this year after being pressed on blackmailing other nations with his tariffs.
MiBolsillo Colombia: 800,000 Jobs Lost in the U.S.: Are Trump’s Tariffs to Blame?
800,000 Jobs Lost in the U.S.: Are Trump’s Tariffs to Blame?
The U.S. labor market is experiencing a turbulent phase in 2025, with job losses reaching alarming levels. Reports indicate that over 800,000 jobs have been cut in the first seven months of the year, marking a 75% increase compared to the same period in 2024. This surge in job cuts is the highest since the COVID-19 pandemic in 2020, which saw over 1.8 million layoffs.
A report by Challenger, Gray & Christmas highlights three primary causes for these job cuts. Among them, the economic conditions and uncertainty stemming from the tariffs imposed during Trump’s administration are significant contributors. These tariffs have increased the cost of essential inputs for many U.S. businesses, squeezing profit margins.
Andrew Challenger, a labor expert, noted that tariff-related concerns have directly impacted nearly 6,000 jobs this year. The lack of clarity on whether tariffs will remain, increase, or decrease adds to the economic uncertainty, making it challenging for businesses to strategize effectively. However, tariffs are not the sole factor in the current employment crisis.
The report also points to the controversial federal budget cuts enacted by the Trump administration, which have resulted in the loss of 289,679 jobs. These cuts have affected the federal workforce and its contractors, impacting non-profit organizations, the healthcare sector, and government operations. Agencies like the IRS are now struggling to fill critical gaps left by these reductions.
Technological advancements, particularly in Artificial Intelligence (AI), have emerged as another significant factor. The report indicates that automation and AI-related technological updates have led to the loss of 20,219 jobs, with an additional 10,375 cuts directly attributed to these advancements. This trend highlights a rapid shift in the labor market driven by the adoption of new technologies.
While Trump’s tariffs have undeniably contributed to economic uncertainty and job losses, the current wave of layoffs in the U.S. is the result of a confluence of factors. These include federal budget cuts and the rise of AI, which are reshaping the labor landscape. The interplay of these elements underscores the complexity of the employment challenges facing the nation.
Money Talks News: Manufacturing Collapse: Tariffs Hit Factories Harder Than Great Recession
Forbes: New $250 Visa Integrity Fee Will Cost US $11 Billion, Say Tourism Officials
U.S. tourism officials say Congress’s controversial $250 visa integrity fee will deter international visitors and cost the country nearly $11 billion in lost visitor spending and tax revenue over the next three years.
- The Congressional Budget Office (CBO) estimated that the new $250 visa integrity fee will bring in around $27 billion over a decade—or $2.7 billion per year—to U.S. government coffers and reduce the national debt.
- But a U.S. tourism official told Forbes the fee will instead cost the U.S. economy $11 billion over three years, including $9.4 billion in lost visitor spending and $1.3 billion in lost tax revenue—or about $3.6 billion per year, according to an analysis by Tourism Economics.
- In addition, the lost revenue will lead to losing 15,000 U.S. travel jobs, according to U.S. tourism industry estimates.
How Will The $250 Fee Impact Tourism To The U.s.?
The CBO based its estimate solely on the potential revenue generated by the fee itself, while the U.S. tourism industry looked at the macroeconomic impact of implementing the fee, hence the wildly different estimates. The CBO estimated that charging roughly 11 million annual visa applicants $250 apiece would rake in roughly $2.7 billion per year for the State Department. Tourism officials say Congress wrongly assumed the pricey fee would have little impact on the volume of visitation. Tourism Economics, a division of Oxford Economics, estimated that the $250-per-person fee is onerous enough to deter 5.4% of international visitors from coming to the U.S., which would translate to a drop of nearly 1 million fewer visits annually. Fewer visitors translate to less visitor spending, and in turn to lower tax revenue and job losses in the tourism industry, sending a negative ripple effect throughout the national economy. “By longstanding tradition, the Congressional Budget Office does not incorporate macroeconomic feedback effects into its traditional cost estimates,” a CBO spokesperson told Forbes. “We didn’t specifically do a dynamic analysis of this provision.” In other words, the CBO did not factor in the potential negative economic impact from lower visitor spending, tax revenue and subsequent job cuts—key metrics used by the U.S. tourism industry and the U.S. Commerce Department to evaluate the overall value of tourism to the U.S. economy. “I think in the minds of congressional leaders, foreign visitors don’t vote, so making them pay more to help fund the [Big Beautiful] Bill wouldn’t come at any political cost,” Erik Hansen, senior vice president of government relations at the U.S. Travel Association, told Forbes. “But the problem is it comes at a huge economic cost to American businesses.”
What Else Do U.s. Tourism Experts Say Congress Got Wrong?
“Congress made the mistake of assuming that this worldwide visa integrity fee would not have a big impact on visitors from countries like India or Brazil,” Hansen told Forbes. “This is the exact type of armchair public policymaking that is going to get us into a big mess.” India, in particular, is a “bright spot” for inbound international travel because visitation numbers have surpassed where they were in 2019, he said, while most other countries are lagging behind their pre-pandemic volume. In 2024, Indian tourists spent roughly $13.3 billion in the U.S., according to the National Travel and Tourism Office, part of the U.S. Commerce Department. “Applying a $250 fee to a country where travel is growing is mindboggling. It will absolutely deter travel—that’s what our research has found,” Hansen said.
What Do International Visitors Need To Know About The Visa Integrity Fee?
The fee is not actually as “refundable” as Congress has billed it to be. As written, the Big Beautiful Bill says the State Department “may reimburse” the fee after the visitor’s visa expires, provided that the visa holder has complied with all conditions of the visa. But most visitor visas are valid for 10 years, Hansen pointed out. “The idea that you’re going to give the government money and then wait around 10 years and remember to ask for it back, even if you followed the rules, is just absolutely crazy,” he said. Indeed, to arrive at its projection, the CBO reasoned in its estimate that “a large number of nonimmigrants would not be eligible to seek reimbursement until several years after paying the fee” so consequently only “a small number of people would seek reimbursement.” In other words, said Hansen, “there’s a very good understanding that the refund process itself is not going to be easy, and even if it is easy, that a lot of people aren’t going to seek that refund after a decade.” Another red flag: The $250 fee was inserted into the Big Beautiful Bill without a plan for processing refunds. In its analysis, the CBO wrote that “the Department of State would need several years to implement a process for providing reimbursements.”
Why Are So Many International Travelers Avoiding The U.s. This Year?
In June, a World Travel & Tourism Council (WTTC) analysis of the economic impact of tourism in 184 countries revealed the U.S. was the only country forecast to see international visitor spending decline in 2025, which by some estimates is as much as $29 billion. The root causes of this decline, multiple studies have found, are a combination of President Trump’s tariffs, travel bans, inflammatory rhetoric and harsher immigration policies, all which have created a chilling effect on visitors. “While other nations are rolling out the welcome mat, the U.S. government is putting up the ‘closed’ sign,” Julia Simpson, president and CEO of WTTC, said in a statement. “Given we’re halfway through the year and we’ve seen these impacts, we don’t know when the stiffest headwind is, but I think it does stay sustained,” Aran Ryan, director of industry studies at Tourism Economics, told Forbes last month. “We’re generally assuming that this persists for a while and that some of it is going to persist throughout the end of the administration.” Simpson characterized the WTTC study as a “wake-up call for the U.S. government,” adding that “without urgent action to restore international traveler confidence, it could take several years for the U.S. just to return to pre-pandemic levels of international visitor spend.”
Tangent
Trump’s signature spending bill contains another blow to U.S. tourism. A Senate committee led by Senator Ted Cruz (R-Tex.) slashed the budget of Brand USA, the country’s public-private destination marketing organization, from $100 million to $20 million. “This is another error that Congress has made,” Hansen said, noting that the Trump administration recommended full funding for the organization in its fiscal year 2026 budget. “We have a big misperception problem among international visitors right now, but Congress cut funding for the one organization that’s in charge of setting perceptions and sending a welcoming message about travel to the United States.”
Controversial $250 Visa Integrity Fee Will Cost US $11 Billion As It Deters Tourists, Analysts Say
The U.S. is facing a steep decline in international travelers—and this fee will only make it worse, say tourism officials.
https://www.forbes.com/sites/suzannerowankelleher/2025/08/15/visa-integrity-fee-cost-us-11-billion
Slingshot News: ‘It’s Not Fair’: Trump Justifies His Tariffs On American Farmers With Lies At White House Event
Associated Press: Trump’s US Open visit sparks boos and long security lines
President Donald Trump was loudly booed at the men’s final of the U.S. Open on Sunday, where extra security caused by his visit led to lines long enough that many people missed the start of play, even after organizers delayed it.
Wearing a suit and long, red tie, Trump briefly emerged from his suite about 45 minutes before the match started and heard a mix of boos and cheers from an Arthur Ashe Stadium that was still mostly empty. No announcement proceeded his appearance, and it was brief enough that some in the crowd missed it.
Trump appeared again to more boos before the National Anthem. Standing in salute, the president was shown briefly on the arena’s big screens during the anthem, and offered a smirk that briefly made the boos louder.
When the anthem was over, the Republican pointed to a small group of supporters seated nearby, then sat on the suite’s balcony to watch the match intently. He mostly didn’t applaud, even following major points that energized the rest of the crowd as Spain’s Carlos Alcaraz bested Jannik Sinner of Italy.
Trump was shown on the big screen again after the first set ended, and elicited a roar of louder boos and some piercing whistles. He raised his left fist in salute as the noise continued in the stadium, which with a capacity of 24,000 is one of the largest in tennis.
The president later moved back inside the suite, where he was seen seated at a table with family members and appeared to be eating, but he was back in his seat shortly before match point. Cameras briefly flashed on Trump as Alcaraz celebrated, but his reaction to the conclusion was as muted as it had been throughout most of the match. This time, there was little crowd reaction, too.
Organizers pushed the start of the match back half an hour to give people more time to pass through enhanced screening checkpoints reminiscent of security at airports. Still, thousands of increasingly frustrated fans remained in line outside as the match got underway. Many seats, especially those in upper rows, stayed empty for nearly an hour.
The Secret Service issued a statement saying that protecting Trump “required a comprehensive effort” and noting that it “may have contributed to delays for attendees.”
“We sincerely thank every fan for their patience and understanding,” it said.
Trump attended the final as a guest of Rolex, despite imposing steep tariffs on the Swiss watchmaker’s home country. The U.S. Tennis Association also tried to limit negative reaction to Trump’s attendance being shown on ABC’s national telecast, saying in a statement before play began: “We regularly ask our broadcasters to refrain from showcasing off-court disruptions.”
The reactions to Trump didn’t ultimately constitute big disruptions, though.
Going to the U.S. Open was the latest example of Trump having built the bulk of his second term’s domestic travel around attending major sports events rather than hitting the road to make policy announcements or address the kind of large rallies he so relished as a candidate.
Since returning to the White House in January and prior to Sunday’s U.S Open swing, Trump has gone to the Super Bowl in New Orleans and the Daytona 500, as well as UFC fights in Miami and Newark, New Jersey, the NCAA wrestling championships in Philadelphia and the FIFA Club World Cup final in East Rutherford, New Jersey. Some of those crowds cheered him, but people booed him at other events.
The president accepted Rolex’s invitation despite his administration imposing a whopping 39% tariff on Swiss products. That’s more than 2 1/2 times higher than levies on European Union goods exported to the U.S. and nearly four times higher than on British exports to the U.S.
The White House declined to comment on Trump accepting a corporate client’s invitation at the tournament, but the president has had few qualms about blurring lines between political and foreign policy decisions and efforts to boost the profits of his family business. He’s tirelessly promoted his cryptocurrency interests and luxury golf properties, and even announced that the U.S. will host the Group of 20 summit in December 2026 at his Doral golf resort in Florida.
No large street protests against Trump could be seen from the tournament’s main stadium on Sunday. But attendees also steered clear of wearing any of the the Republican’s signature “Make America Great Again” caps.
A 58-year-old tennis fan originally from Turin, Italy, came from her home in the Boston area to watch the final and said that when she bought a U.S. Open cap, she went with a fuchsia-hued one so it wouldn’t be mistaken for the signature darker color of MAGA hats.
“I was careful not to get the red one,” said the fan, who declined to give her name because of her employer’s rules about being publicly quoted.
Among those attending with Trump were White House press secretary Karoline Leavitt, Attorney General Pam Bondi, Treasury Secretary Scott Bessent, special envoy Steve Witkoff and Susie Wiles, the White House chief of staff. Trump spent various portions of the match engaged in conversation with many of those around him.
Elsewhere in the crowd were a slew of celebrities — some of whom publicly backed then-Vice President Kamala Harris during last year’s election. Among them were Pink, Bruce Springsteen and Shonda Rhimes. In pre-match interviews shown on large stadium screens with the likes of Martha Stewart and Jon Hamm, the questions asked stuck to tennis and pop culture — not Trump and politics.
The president nonetheless was excited enough about his trip to tell reporters on Air Force One during the flight to New York when the plane flew over Ashe stadium — though the covered roof kept those inside from reacting.
Trump was once a U.S. Open mainstay, but hadn’t attended since he was booed at a quarterfinals match in September 2015, months after launching his first presidential campaign.
The Trump Organization once controlled its own U.S. Open suite, which was adjacent to the stadium’s television broadcasting booth, but suspended it in 2017, during the first year of Trump’s first term. The family business is now being run by Trump’s sons with their father back in the White House.
Trump was born in Queens, home of the U.S. Open, and for decades was a New York-area real estate mogul and, later, a reality TV star. Attending the tournament before he was a politician, he usually sat in his company’s suite’s balcony during night matches and was frequently shown on the arena’s video screens.
Associated Press: Trump’s US Open visit sparks boos and long security lines
President Donald Trump is attending the U.S. Open as a guest of Rolex despite imposing steep tariffs on the Swiss watchmaker’s home country.
https://apnews.com/article/trump-us-open-sporting-events-boos-5a80b02c78403f1f2f87a30852ffb0f5