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A federal appeals court agreed Tuesday to let the government keep collecting President Donald Trump’s sweeping import taxes while challenges to his signature trade policy continue on appeal.The decision by the U.S. Court of Appeals for the Federal Circuit extends a similar ruling it made after another federal court struck down the tariffs May 28, saying Trump had overstepped his authority. Noting that the challenges to Trump’s tariffs raise “issues of exceptional importance,” the appeals court said it would expedite the case and hear arguments July 31.The case involves 10% tariffs the president imposed on almost every country in April and bigger ones he imposed and then suspended on countries with which the United States runs trade deficits. It also involves tariffs Trump plastered on imports from China, Canada and Mexico to pressure them to do more to stop the illegal flow of immigrants and synthetic opioids across the U.S. border.In declaring the tariffs, Trump had invoked emergency powers under a 1977 law. But a three-judge panel of the U.S. Court of International Trade ruled he had exceeded his power.The tariffs upended global trade, paralyzed businesses and spooked financial markets. Paul Wiseman, AP Economics Writer
Category:
E-Commerce
Google is offering buyouts to certain employees in the United States and requiring more workers to return to offices as it continues to shift toward AI. The voluntary exit program, as Google calls it, is being offered to employees on the communications, core, knowledge and information (which includes search, ads, and commerce), marketing, and research teams, Google confirmed with Fast Company on Wednesday. The buyouts would see Google provide employees with a pay and benefits package in exchange for their exit. “Earlier this year, some of our teams introduced a voluntary exit program with severance for US-based Googlers, and several more are now offering the program to support our important work ahead, Google spokesperson Courtenay Mencini said in a statement. A number of teams are also asking remote employees who live near an office to return to a hybrid work schedule in order to bring folks more together in-person.” A new era for Google as search habits evolve The exact details of this deal are to follow, according to a memo reportedly sent by Jen Fitzpatrick, senior vice president of core systems. CNBC reports that mid- to senior-level employees in the Peoples Operations unit received up to 14 weeks of their salary plus another week for every completed year on the job during a previous buyout in February. CNBC and Business Insider reported on the memo on Tuesday. Fitzpatrick reportedly stated that AI is reshaping everythingour products, our tools, the way we work, how we work, how we innovate and so on. She continued, To meet this transformational moment, we need everyone to show up with an unparalleled sense of energy and enthusiasm for Cores mission, connecting and collaborating at speed so that we can tackle all of the ambitious work we need to do. Meeting the moment also means being willing to commute up to 50 miles to the office three times a week. In the same memo, Google reportedly announced that all employees within that distance of an approved return site must come in 60% of the time. Taking the stance that workers must show face to perform well, Google reportedly stated, We want to ensure Core Googlers are fully committed to being here and actively contributing. These programs will help us be even more focused on our mission and will enable us to operate with greater velocity, efficiency and collaboration. Meanwhile, Fitzpatrick reportedly noted that the buyouts are for employees who arent feeling excited about and aligned with Cores mission and goals, or those who are having difficulty meeting the demands of their role. In other words, if you feel behind at work, quitting might be the best option. Though the buyouts are voluntary, they could spell layoffs for those teams. In January, Google offered buyouts to employees in its platforms and devices division, only to lay off hundreds of workers in the unit a few months later. Google also laid off about 12,000 employees in January 2023 and has done multiple rounds of layoffs since.
Category:
E-Commerce
U.S. inflation picked up a bit last month as food costs rose, though overall inflation remained mostly tame.Consumer prices increased 2.4% in May compared with a year ago, according to a Labor Department report released Wednesday. That is up from a 2.3% yearly increase in April. Excluding the volatile food and energy categories, core prices rose 2.8% for the third straight month. Economists pay close attention to core prices because they generally provide a better sense of where inflation is headed.The figures suggest inflation remains stubbornly above the Federal Reserve’s 2% target, which makes it less likely that the central bank will cut its key short-term interest rate. President Donald Trump has repeatedly urged the central bank to reduce borrowing costs.There were scattered signs that Trump’s tariffs may have contributed to some price increases, but the cost of some imported goods, such as clothing, fell in May from the previous month and many services, such as airline fares and hotel rooms, also dropped in price.On a monthly basis, overall prices ticked up just 0.1% from April to May, down from 0.2% previous month. Core prices also dropped to 0.1% from 0.2%.Grocery prices rose 0.3% from April to May, and are up 2.2% in the past year. Fruits and vegetables, breakfast cereals, and frozen foods all rose in price. Egg costs fell 2.7%, their second straight drop though they are still more than 40% more expensive than a year ago.Last week, the Labor Department’s Bureau of Labor Statistics, which compiles the inflation data, said it is reducing the amount of data it collects for each inflation report. Economists have expressed concern about the cutback, and while it isn’t clear how sharp the reduction is, most analysts say it is likely to have a minor impact. Still, any reduction in data collection could make the figures more volatile.Inflation has cooled in the past year and, excluding the impact of tariffs, economists say it would be on track to return to the Fed’s target, which would allow the central bank to cut its key interest rates. Yet core prices have been more stubborn and were stuck between 3.2% and 3.4% for nearly a year until February, when they started to decline. They have now been at 2.8% for three straight months.Nearly all economists expect Trump’s duties will make many things more expensive in the second half of this year, including cars and groceries, though by how much is still uncertain. Trump said Wednesday the U.S. will place 55% tariffs on all imports from China, up from the previous level of 30%. He has also imposed a 10% baseline tariff on imported goods from every other country, and 50% import taxes on steel and aluminum.Given the potential for higher prices in the coming months, Fed Chair Jerome Powell and other Fed officials have made clear they will keep their key rate unchanged until they have a better sense of how tariffs will affect the economy. Christopher Rugaber and Anne D’Innocenzio, Associated Press Writers
Category:
E-Commerce
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