CNBC Business News Update Market Open: Stocks Mixed, Amazon Will Show Tariff Cost To Consumers And Trump Blasts The Company, White House Shifts To Tax Cut Talk 4/29/25
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Apr 29, 2025 Dive into the shifting tides of the stock market as Amazon faces tariff scrutiny, leading to a dip in its shares. Discover how these political tensions are affecting corporate strategies and employment. The conversation also touches on the implications of proposed tax cuts and what they could mean for the economy. Insights from seasoned experts illuminate the broader impacts of these developments on Wall Street and Main Street alike.
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Amazon Shows Tariff Cost
- Amazon plans to show the cost impact of President Trump's tariffs directly on product prices on its site.
- This move has drawn sharp criticism from the White House calling it hostile and political.
White House Focuses on Tax Cuts
- The White House is shifting focus from tariffs to tax cuts for working Americans.
- Proposed benefits include no tax on tips, overtime, or Social Security, and making auto payments deductible.
Trump's Auto Tariff Adjustment
- President Trump plans to reduce some fees on foreign auto parts for U.S.-assembled cars but maintain tariffs on imported vehicles.
- This is amid his 100th-day rally and public dissatisfaction with his tariff policies.