World Business Report US Economy takes a hit
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Jun 26, 2025 Kerry Leahy, an economist and adjunct professor at Columbia University, dives into the struggles of the US economy as it shrinks and jobless claims rise. He discusses how tariffs are impacting business and the ongoing trade negotiations with China. Switching gears, Leahy analyzes Nigeria's sweeping tax reforms amid skepticism about their effectiveness. He also touches on Nike's declining sales and the evolving landscape of the fashion industry as Anna Wintour steps back after decades of influence. A captivating mix of economics and fashion!
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US Trade Deficit Insights
- The US trade deficit widened despite tariff policies aimed at reducing it.
- Some experts say the US lacks efficiency to produce everything it needs domestically.
Business Uncertainty from Tariffs
- US businesses are hesitant to invest amid tariff and policy uncertainty.
- Changing trade deadlines add to confusion for domestic and foreign firms.
Dollar Decline and Fed Dynamics
- A lower US dollar could help exporters amid trade tensions.
- Possible early Fed chair replacement adds complexity to monetary policy and affects the dollar.