Semafor business

Trade wars have scrambled consumer behavior, and it’s unclear whether shoppers will load up on pre-tariffed goods or put off discretionary sprees.

The TACO trade theory is making the market complacent at the worst possible time, heading into late-summer lulls when the knife-catchers head for the Hamptons.

Conservative ETFs — and virtue-signaling funds of all political stripes — are proliferating in the Trump age. The newest entrant is expensive, but MAGA fans might find it a price worth paying.

President Donald Trump said the US would impose 25% blanket tariffs on imports from Japan and South Korea, effectively imposing “Liberation Day” rates on two major trading partners.

Trump’s trade deals are so far light and fraught, as leaders around the world, managing their own voters, are pushing back.

There is little evidence in the stock market that American exceptionalism is dead.

The greenback is down more than 7% this year, and Morgan Stanley predicts it could fall another 10%.

Employers added 147,000 jobs in June, while unemployment fell to 4.1%, the Labor Department reported, suggesting a resilient economy despite uncertainty over trade and fiscal policy.

The JPMorganChase Institute found that midsize US firms can expect to pay $2,080 more per employee at current tariff rates, amounting to a 3% payroll hike.

The Apollo-backed group’s new CEO looks for people who can make decisions quickly — and not look back.

The design software CEO says resolving an investor standoff starts with admitting which critiques are fair.

Hanoi agreed to pay export duties ranging from 20-40% on goods to the US, while Washington will pay nothing to import to Vietnam, Trump said.