The Daily Money: Bad tidings for Temu and Shein
Good morning! It’s Daniel de Visé with your Daily Money.
President Trump signed an executive order Wednesday, ending a trade loophole that allows for low-value goods to be shipped to the U.S. duty-free. Packages valued at $800 or less sent outside the postal network will face "all applicable duties," the White House said. The order takes effect August 29.
Here's what that means for patrons of Shein and Temu.
5 forms your kid should sign before college
“Happy 18th birthday, kid! Now, sign these forms.”
A birthday party might not be the right moment to broach the issue. But some time after your child turns 18, experts say, you should present them with a stack of legal and financial documents to sign.
They’re still your kids. But when they turn 18, they are also adults. And that means you no longer have access to large portions of their life, at least not without their consent.
So, what about that rate cut?
When, exactly, can we expect the Federal Reserve to cut interest rates?
The central bank didn't touch rates at its July meeting, which ended Wednesday. The next meeting comes in September.
“We have made no decision about September,” Powell told reporters Wednesday. But economic forecasters have plenty of theories about what the Fed will do.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.