Brian Klein

Japan Says U.S. Will Correct Error In Trump’s Tariff Order And Give Refunds The change will mean Trump’s reciprocal tariff rate of 15% on Japan will not stack on top of existing sector-specific levies, similar to an arrangement with the EU.

Mistakes were made . . . Not only are the specifics of current U.S. tariff increases hazy, as in the case of Japan, but they can change on a whim. Trade uncertainty continues to rise while markets ignore the dangers. www.forbes.com/sites/siladi...

Exclusive: India pauses plans to buy U.S. arms after Trump's tariffs New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades.

Consequences of new U.S. tariff regime start to pile up. India pulling back on arms purchases. www.reuters.com/business/aer...

China exports top forecasts as EU, ASEAN shipments offset US drop China's exports rose more than expected last month, with official data on Thursday showing a jump in shipments to the European Union and other markets offset a drop in those to the United States.

China may not need the U.S. as much as the White House thinks. Exports rose to EU and ASEAN, offsetting drop to U.S. Whether this is a sustainable trend or not is another question. www.france24.com/en/live-news...

India’s Modi is caught between Putin’s cheap Russian oil and Trump’s latest tariff threats | CNN For years, India has balanced close partnerships with both Washington and Moscow, even throughout Ukraine war. Trump is finally demanding it picks a side

Unfortunately the US doesn’t have more to negotiate with to convince India to drop Russian oil. Maybe advanced alternative energy systems and EV’s, but that industry was ceded to China. Wouldn’t replace all oil demand but it might have been better than tariffs. www.cnn.com/2025/08/05/i...

After a Lag, Consumers Begin to Feel the Pinch of Tariffs

Evidence keeps building that US consumers are going to start paying the tariff bill. Has it hit your wallet yet?

www.nytimes.com/2025/08/02/b...

He thinks putting tariffs on everything is free money. It isn't. #tariffs #taxes #imports #electronics

Comparative advantage means produce domestically what's cheaper than buying from abroad.

Many products are made overseas because making them in the US would be prohibitively expensive.

Either companies pay double or they’ll pay more for domestic chips.

Either way it’s lose-lose for consumers.

This would be an insane move. Consumers will pay the price either way.

YES

I wouldn't be surprised that at some point in the near future India will hit back. At a minimum, US companies are going to face a wall of non-tariff barriers, including bureaucratic obstacles, to doing business there.

Opinion | You Are Contaminated

For more on the PFAS crisis there's this op-ed by David Wallace Wells @nytimes.com #PFAS #pollution #health www.nytimes.com/2025/08/04/o...

Economic Pain is Coming and it’s Going to Hurt From the dinner table to the medicine cabinet, prices are going up. Wages, not so much.

Economic pain is coming and it's going to hurt, including rising costs from breakfast to clothes and electronics. My latest quick-take is out on Substack. Check it out. #tariffs #taxes #inflation #economy
open.substack.com/pub/brianpkl...

Trump to put additional 25% import taxes on India, bringing combined tariffs to 50% Trump has signed an executive order to place an additional 25% tariff on India for its purchases of Russian oil.

US tariffs on India jump another 25%. Imagine the backlash as cash-strapped voters not only see their wages stagnate, groceries become more expensive, and medicine prices jump. apnews.com/article/trum...

YouTube video by Bloomberg Originals The Forever Chemical Scandal | Bloomberg Investigates

Worth a watch. Seriously. #PFAS #foreverchemicals #poison #environment #cancer @bloomberg.com www.youtube.com/watch?v=t8qG...

July U.S. services and manufacturing ISM indices are teetering on the edge with decline or slowdown while prices are rising -- a toxic mix. If it continues there will be more headlines about stagflation not recession. The Fed is between a rock and a hard place.

www.prnewswire.com/news-release...

The vast majority of US adults are stressed about grocery costs, an AP-NORC poll finds A new poll finds the vast majority of U.S. adults are feeling some stress about the cost of groceries, as prices continue to rise and concerns about the impact of President Donald Trump’s tariffs rema...

A staggering 86% of people in the US say grocery costs are a concern (major: 53% minor: 33%), according to new AP/NORC poll. Major tariffs haven't even kick in yet. On the barely positive side Brazil orange juice isn’t subject to new tariffs (beef and coffee, however) apnews.com/article/poll...

Wells Fargo downgrades US small-cap equities to 'unfavourable' Wells Fargo Investment Institute on Tuesday downgraded U.S. small-cap equities to "unfavorable" from "neutral", pointing to its heavy tariff exposure and weak earnings.

U.S. small cap equities are the canary in the coal mine. They’re small companies least equipped to deal with tariffs. Wells Fargo just downgraded their outlook to unfavorable.

www.reuters.com/business/wel...

US could require up to $15,000 bonds for some tourist visas under new pilot program, notice says The U.S. could require up to $15,000 bonds for some tourist and business visas under a new pilot program launching in two weeks, a U.S. government notice said on Monday, an effort that aims to crack down on visitors who overstay their visas.

It's a big world with lots of opportunities. Eventually potential tourists to the U.S. charged $250 from some countries and businesspeople paying up to $15,000 bond from places with high visa overstay rates will just stop coming to the U.S. #visas #tourism #US www.reuters.com/world/us/us-...

'A gamechanger': Economists react to weak July jobs report as rate cut bets surge Economists are sounding the alarm on a weakening labor market after July's jobs report revealed sharp downward revisions and softer-than-expected hiring, putting Fed rate cuts firmly back on the table...

The Trump slump has started. Weak jobs report and downward May/June monthly revisions show a very shaky job market just when tariffs are about to raise prices on practically everything. #trumpslump #tariffs #taxes #jobs #economy #recession finance.yahoo.com/news/a-gamec...

US tariff policy has already failed no matter what rates ultimately take effect. They won't induce more domestic production or raise significant revenue to help reduce the national deficit. The economy is slowing and imports dropping due to higher prices. Net negative all around.

A key US inflation gauge rose last month as Trump's tariffs lifted goods prices The Federal Reserve’s preferred inflation gauge ticked higher last month in a sign that President Donald Trump’s broad-based tariffs are starting to lift prices for many goods.

If you didn’t get a 15% - 50% raise this year, then your standard of living just went down, again. Prices on major imports from electronics to beef, toys, coffee, and more are about to be more expensive thanks to tariffs. apnews.com/article/infl... #tariffs #taxes #imports #inflation

Trump announces trade agreement with South Korea ahead of August 1 tariff deadline | CNN Business President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there.

15% on South Korean imports. Electronics, washing machines, refrigerators, dryers, cell phones, etc. about to get more expensive. www.cnn.com/2025/07/30/b... #SouthKorea #trade #tariffs #inflation

US economy grows at 3% in Q2, rebounding from first pullback in 3 years Wednesday's data showed US economic growth rebounded in the second quarter as the widest swath of President Trump's tariffs took hold.

Go beyond the headlines. . . on the surface this sounds like great news “US economy grows at 3% in Q2, rebounding from first pullback in 3 years”, but GDP is calculated by subtracting imports, which fell in Q2 (because, tariffs). finance.yahoo.com/news/us-econ... #economy #inflation #GDP

Tariffs, Tariffs, Everywhere . . . But did they drop enough?

Are the tariff wars really coming to an end? Check out the latest quick take on A Closer Look. #tariffs #tradewars #taxes #consumers #Japan #EU #trade #Canada #Mexico #Brazil open.substack.com/pub/brianpkl...

Thailand and Cambodia agree to ceasefire after five days of fighting Cambodia and Thailand agreed to an "immediate and unconditional ceasefire" from midnight, in a bid to halt their deadliest conflict in more than a decade after five days of fierce fighting that has displaced more than 300,000 people.

Southeast Asia, contrary to western imagination, is not a singular block. Another myth busted -- problems in the region aren’t always the fault of a colonial legacy. Recent fighting between Thailand and Cambodia make that clear. www.reuters.com/world/china/...

U.S. inflation and slower growth are coming Watch back-to-school and holiday shopping

Don't be fooled by rosy headlines. US inflation and slower growth are coming. Beef prices are skyrocketing. Trade tensions with the EU are hitting new highs. Check out my latest "Closer Look" quick-take here. brianpklein.substack.com/p/us-inflati... #inflation #recession #stagflation #economy

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What Peter Theil Gets Wrong About Slowing U.S. Innovation It's not about culture, it's about funding and complexity.

What Peter Theil gets wrong about US innovation - in a recent interview with Ross Douthat of the NYT, billionaire Peter Thiel blames woke ideology for a dearth technological and medical breakthroughs. The real answer is far more complex. My latest on Substack brianpklein.substack.com/p/what-peter...

Trump’s Tariffs Became an Economic Weapon. It Isn’t Just Brazil. Americans will pay the price for the president’s tactics, Brian P. Klein writes in a guest commentary.

The costs of weaponizing U.S. tariffs are coming due and they aren't going to be cheap. My latest commentary in Barron's www.barrons.com/articles/tru... #tariffs #trade #economy #taxes

It's going to be a long, hot, polluted summer. . . #coal #airpollution @toximapp.bsky.social @momscleanairforce.org