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U.S. prices may rise next year for avocados, strawberries and other fresh produce, and consumers could face shortages, if President-elect Donald Trump follows through on plans to slap tariffs on goods from Mexico and Canada, agricultural economists and industry executives said. Mexico and Canada are by far the top two suppliers of farm products to the United States, with imports of agricultural goods valued at nearly $86 billion last year, according to U.S. Department of Agriculture and U.S. Customs data.

Trump tariffs could raise grocery, liquor bills - from beef and pork to avocados and tequila

U.S. prices may rise next year for avocados, strawberries and other fresh produce, and consumers could face shortages, if President-elect Donald Trump follows through on plans to slap tariffs on goods from Mexico and Canada, agricultural economists and industry executives said. Mexico and Canada are by far the top two suppliers of farm products to the United States, with imports of agricultural goods valued at nearly $86 billion last year, according to U.S. Department of Agriculture and U.S. Customs data.
Reuters 16 minutes ago
Why Trump gets away with tariffs

Why Trump gets away with tariffs

Most Americans aren't sure what tariffs are, and they're conflicted about whether they matter or not.
Yahoo Finance 25 minutes ago
Biden's public lands director named to lead environmental group

Biden's public lands director named to lead environmental group

A senior official in President Joe Biden's administration who oversaw its contentious efforts to address climate change by curbing oil drilling on federal lands while expanding renewable power was named Tuesday as the next president of a prominent environmental group. U.S. Bureau of Land Management Director Tracy Stone-Manning will become president of The Wilderness Society effective next February, the Washington, D.C.-based group announced. Stone-Manning's 2021 nomination by Biden was bitterly opposed by Republicans who labeled her an “eco-terrorist” over her past ties with environmental extremists.
Associated Press Finance 27 minutes ago
It’s almost time for Spotify Wrapped. When can you expect your 2024 recap?

It’s almost time for Spotify Wrapped. When can you expect your 2024 recap?

It’s almost that time of year: Spotify is gearing up to release its annual Wrapped, personalized recaps of users' listening habits and year in audio. Spotify said its 2023 Wrapped was the “biggest ever created,” in terms of audience reach and the kind of data it provided.
Associated Press Finance 28 minutes ago
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Abercrombie & Fitch CEO on tariffs: We'll manage through it

Abercrombie & Fitch CEO on tariffs: We'll manage through it

Abercrombie & Fitch CEO Fran Horowitz strikes a bullish tone on the holidays, warns on tariff impact.
Yahoo Finance 32 minutes ago
AEO
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Federal Reserve officials signal cautious path for rate cuts amid still-high inflation

Federal Reserve officials signal cautious path for rate cuts amid still-high inflation

With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. The minutes don't specifically provide much guidance about what the Fed will do at its next meeting Dec. 17-18. Wall Street investors see the odds of another quarter-point reduction in the Fed's key rate at that meeting as nearly even, according to CME Fedwatch.
Associated Press Finance 32 minutes ago
The IRS is at risk of losing $20 billion in funding without legislative intervention

The IRS is at risk of losing $20 billion in funding without legislative intervention

Already bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen. Hoping to unlock the funds in upcoming budget negotiations, Treasury officials are rushing for action before President Joe Biden's term ends. Treasury officials warn of dire consequences if the funding is effectively rescinded through inaction.
Associated Press Finance 45 minutes ago
Twinkie maker Hostess monitoring RFK Jr's anti-sugar, anti-packaged food agenda

Twinkie maker Hostess monitoring RFK Jr's anti-sugar, anti-packaged food agenda

Twinkie maker JM Smucker is planning to monitor and assess any changes in food and nutrition regulations that Robert F. Kennedy Jr. could implement as President-elect Donald Trump's potential top health agency head. Kennedy said during his run for U.S. president as an independent that he wanted to "Make America Healthy Again," calling out additives, chemicals and sugar used in packaged foods and sodas as culprits for causing chronic illness in the United States. The views of the nominee to head the Department of Health and Human Services on food could put Smucker -- which manufactures Uncrustables frozen peanut butter and jelly sandwiches, and which acquired Hostess, the maker of Twinkies, Ho Hos and Donettes, last year -- on the defensive.
Reuters 49 minutes ago
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Bitcoin options trade shows more bets on retreat after failing to breach $100,000

Bitcoin options trade shows more bets on retreat after failing to breach $100,000

Investors in the world's largest cryptocurrency are anticipating a significant downward move after bitcoin failed to hit an all-time peak of $100,000, according to a crypto trading platform citing recent options activity. Bitcoin hit a record high of $99,830 on Nov. 22, but it has since fallen more than 8% to a one-week low of 91,377.32 on Tuesday. The best-known cryptocurrency has soared 120% so far this year and about 34% this month with the election of Donald Trump as U.S. president and a slew of pro-crypto lawmakers in Congress.
Reuters 50 minutes ago
Fed Minutes Show Officials Prefer Future Rate Cuts to Be Gradual

Fed Minutes Show Officials Prefer Future Rate Cuts to Be Gradual

(Bloomberg) -- Federal Reserve officials indicated broad support for a careful approach to future interest-rate cuts as the economy remains solid and inflation slowly cools, minutes from their latest policy meeting showed.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNY
Bloomberg 51 minutes ago
Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief

Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief

If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. The president-elect floated the tariff idea, including additional 10% taxes on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday on Truth Social threatening the tariffs on his first day in office could just be a negotiating ploy to get the countries to change behavior. High food prices were a major issue in voters picking Trump over Vice President Kamala Harris, but tariffs almost certainly would push those costs up even further.
Associated Press Finance 53 minutes ago