Things To Do In SW Florida

By PAUL WISEMAN, Associated Press Economics Writer

A Minnesota farmer worries about the price of fertilizer. A San Diego entrepreneur deals with an unexpected cost increase of remodeling a restaurant. A Midwestern sheet metal fabricator bemoans the prospect of higher aluminum prices.

Businesses knew that Trump’s import taxes — tariffs — on America’s biggest trading partners were scheduled to take effect Tuesday. But many of them assumed they’d get a reprieve. After all, the unpredictable president had delayed the tariffs on Canada and Mexico for 30 days right before they were originally supposed to kick in on Feb. 4.

No such luck this time.

At midnight Tuesday, the United States imposed 25% tariffs on goods from Canada and Mexico, starting a trade war with its closest neighbors and allies. Trump also doubled his 10% levies on Chinese imports in a series of moves that took U.S. tariffs to the highest level since the 1940s. Canadian energy was shown some mercy, getting taxed at a lower 10%. read more

By WYATTE GRANTHAM-PHILIPS, Associated Press

NEW YORK (AP) — U.S. President Donald Trump’s long-threatened tariffs are here, plunging the country into an escalating trade war with China, Canada and Mexico.

Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods. In response, all three countries announced retaliatory measures.

Experts say consumers and businesses will be the hardest hit. Companies big and small will face higher costs on the goods they buy from other countries — and could have little recourse but to hike prices themselves. For consumers, that will likely mean more expensive price tags on everything from cars, appliances and other big-ticket items to smaller, everyday purchases including electronics, gasoline and groceries.

How are Canada, Mexico and China responding?

Canada, Mexico and China all declared on Tuesday that they would impose retaliatory taxes on many U.S. products.

China is imposing tariffs of up to 15% on a wide array of key U.S. farm exports, including American-grown chicken, pork, soy and beef. It also expanded the number of U.S. companies subject to export controls and other restrictions by about two dozen. read more

By ANDREW DeMILLO, Associated Press

LITTLE ROCK, Ark. (AP) — The number of states imposing sales taxes on groceries has shrunk over the years, and the number may decrease further in the coming months as lawmakers hear complaints about high prices for eggs and other household staples.

Arkansas Gov. Sarah Huckabee Sanders on Tuesday unveiled the details of her proposal to eradicate the remaining 1/8th of a cent sales tax the state levies on groceries. Lawmakers in Tennessee, Mississippi and Alabama and are also calling for grocery-tax reductions.

The efforts come as states face uncertainty about their budgets because of cuts in Medicaid and other federal programs being eyed by Republicans in Washington. But supporters of the tax cuts are citing headlines about soaring egg prices as the reason they are needed now.

“We’re getting rid of Arkansas’ most regressive tax and giving a helping hand to those who need it the most,” Sanders, a Republican, said at a news conference to discuss the proposal. read more

By HALELUYA HADERO

Reddit co-founder Alexis Ohanian has joined billionaire Frank McCourt’s bid to acquire TikTok as a strategic adviser.

By James Royal, Ph.D., Bankrate.com

It’s the dream of many to become a millionaire, and even those with just a little dough to start can achieve this goal with careful planning. While selecting the right investments is important, one other factor is still more important if you’re starting out with a relatively small nest egg: time.