New reports have indicated that China’s exports to the U.S. plummeted in May. This sharp declines comes as a temporary truce between the world’s two largest economies arrived “too late” to prevent major port disruptions.
Read More Chinese exports to U.S. plummet 35% in May — biggest decline since COVID began
President Donald Trump vowed to enact “at least” a 25% tariff on iPhones that are not manufactured and built in the United States — in a sharp warning to Apple CEO Tim Cook.
Read More Trump threatens 25% tariff on Apple after company shifts iPhone manufacturing to India
Following President Donald Trump’s introduction of tariffs, Nvidia revealed that it will produce AI Supercomputer chips “entirely in the U.S.” for the first time.
Read More Nvidia Announces Plans To Manufacture AI Supercomputer Chips ‘Entirely In The U.S.’ Following Trump’s Tariffs
Southwest Airlines slashed 15% of its corporate workforce in an effort to cut overhead costs.
Read More Southwest Airlines Announces 15% Corporate Staff Layoffs To Reduce Costs
The U.S. Postal Service said it would accept parcels from China and Hong Kong again after a temporary suspension of shipping low-value packages duty-free to the United States.
Read More US Postal Service ends China parcel suspension, works to reduce disruption
Waffle House, a restaurant chain with over 2000 locations in 25 U.S. states, recently announced that the chain will be adding a $0.50 surcharge to all egg items at its locations — due to the drastic increase in egg prices caused by the ongoing bird flu, which is affecting supply chains.
Read More Waffle House Places Surcharge On Egg Items To ‘Combat National Shortage’