Core Insights - Vietnam's footwear exports to the United States experienced a significant decline of 27% in September, totaling $611 million, which is the largest drop among all sectors following the U.S. government's implementation of tariffs [1] Industry Impact - The footwear sector is notably affected by the recent tariffs imposed by the U.S. government, leading to a sharp decrease in export values [1] - The decline in exports indicates potential challenges for the Vietnamese footwear industry, which may need to adapt to the changing trade environment [1]

Core Insights - U.S. consumer goods prices are rising due to tariffs, despite a moderation in overall inflation [2][3] - Companies are passing on tariff costs to consumers, leading to price increases across various product categories [2][5] - The effective tariff rate in the U.S. has significantly increased, projected to reach 18% to 20% by the end of the year [7] Price Increases - Bureau of Labor Statistics data indicates that prices for audio equipment rose by 14%, dresses by 8%, and tools and hardware by 5% in the six months leading to August [2] - 90% of goods firms have raised prices in the past year due to macroeconomic volatility, with 70% of retailers increasing prices as a response to these conditions [6] Profit Margins - Despite price increases, 60% of firms reported a drop in profit margins, with three-quarters of goods-focused firms experiencing moderate erosion [6] - Retailers are facing challenges as they absorb part of the cost increases while passing on some to consumers [6][7] Tariff Impact - The average effective tariff rate in the U.S. has risen to nearly 16%, up from 2.3% at the end of the previous year [7] - Companies like Costco are adapting by reducing imported goods and focusing on higher-value items to mitigate tariff exposure [4]

[Music] [Music] The Trump administration may roll out what it calls substantial support for American farmers who have suffered losses due to trade policy. Now, let's hear directly from the farm. Blake Hurst joins us.He is former president of the Missouri Farm Bureau and a farmer. Blake, welcome to the show. Um, I want to start off kind of bigger picture, Blake, because I'm curious to hear how the American farm economy is doing right now, Blake.You know, broadly, how is it is it holding up. What is your sens ...

Mexico and Canada have been protected from Donald Trump’s tariffs under a trade agreement he negotiated during his first term. But that deal is now coming under pressure https://t.co/oNUNcipNCu ...

Core Insights - The article discusses the complexities of deciding when to start receiving Social Security benefits, emphasizing that benefits are calculated based on the highest 35 years of earnings rather than the most recent years [1][2][4] - It highlights the potential for individuals to increase their benefits by continuing to work and earning more than their previous highest earning years [12] - The article also addresses the implications of life expectancy on retirement planning, noting that longer life expectancies necessitate careful consideration of retirement savings and benefit timing [14][15] Summary by Sections Social Security Benefits Calculation - Benefits are based on the highest 35 years of earnings, allowing for potential increases if higher income is earned after starting benefits [1][12] - The Social Security Administration reviews earnings records annually, even after benefits have begun [2] Retirement Age and Benefits - Individuals born in 1960 or later will reach full retirement age (FRA) at 67, with benefits increasing for each year benefits are delayed until age 70 [3][13] - Starting benefits before FRA results in reduced monthly payments, while no benefits are withheld after reaching FRA regardless of earnings [4][8] Financial Considerations - The maximum monthly benefit for those starting at age 62 is $2,831, while the average benefit for women at age 66 is $1,441.82 [11] - If an individual continues to work and earns above their previous highest years, they can displace lower-earning years and increase their benefits [12] Life Expectancy and Retirement Planning - Life expectancy for men reaching age 65 is projected at 84.3 years, and for women, it is 86.9 years, indicating a need for long-term financial planning [14] - The decision of when to retire and start benefits is personal and should consider financial implications and personal fulfillment [16]

Industry Overview - The kitchen and bath remodeling industry is currently valued at $230 billion, indicating significant business activity and consumer interest in home improvements [10] - There are 22 million homes in their prime remodeling years, suggesting a strong potential market for the industry [1] Consumer Behavior - 73% of homeowners have mortgages with interest rates below 5%, which may contribute to the popularity of remodeling projects among consumers [2] - There is a pent-up demand for kitchen and bath remodeling, with consumers eager to invest in their homes [7] Challenges Faced - The industry faces challenges due to tariffs, which complicate pricing strategies and may deter some consumers from proceeding with remodeling projects [3][9] - Domestic manufacturers are experiencing pricing challenges due to dumping of cabinets, which affects competitiveness [3] Market Dynamics - The presence of international manufacturers from countries like Germany, Italy, and Brazil is noted, as they offer quality products that American consumers desire [4][6] - The industry is seeking a balance between maintaining competitive pricing for domestic products while allowing access to luxury imports [6]

Project 2025 & Government Shutdown - Project 2025 is a 922-page ultra-conservative agenda crafted by the Heritage Foundation, aiming to reshape policy for potential Republican administrations [1] - The current government shutdown is viewed as an opportunity to implement aspects of Project 2025, including budget cuts and agency restructuring [1] - Russell Vote, a self-described Christian nationalist, is considered the key architect of Project 2025, advocating for aggressive use of executive power [1] Political Strategies & Consequences - The White House is accused of using the shutdown as cover to enact policies aligned with Project 2025 [1][3] - $18 billion in transit project funding in New York and $8 billion in green energy funding in 16 states are threatened to be frozen or canceled [2][3] - The Democrats are advised to allow the shutdown's consequences to be felt by voters, particularly those who support Trump, to highlight the negative impacts of his policies [10][14] - Republicans in swing seats are reportedly concerned about the political fallout from the shutdown [11] - Early polling suggests that approximately 150% more people blame Trump and the Republicans for the shutdown [13] Economic Impact - Tariffs are identified as causing "enormous economic damage," hurting farmers, working-class manufacturing jobs, and construction jobs [9] - The potential for farmer bailouts is discussed, with concerns that such bailouts could be seen as a validation of Trump's policies [14][15] Virginia Elections - Virginia is highlighted as a bellwether state, with upcoming congressional races in 2026 being particularly important [12][18][21] - Republicans risk losing three or four congressional seats in Virginia due to the shutdown [18]

Market Performance - As of October 3, 2025, the Dow Jones Industrial Average closed at 46,758.28, marking a 0.51% daily gain and a 1.10% increase for the week, while the S&P 500 finished at 6,715.79, with a slight increase of 0.01% [2] - The NASDAQ Composite experienced a minor dip of 0.28% on October 3 but still managed a weekly rise of 1.32%, contributing to the overall record-setting performance of major indices [2] - The market's resilience is notable despite a federal government shutdown, which has not significantly impacted investor sentiment [2][11] Tariff Impacts - President Trump's announcement of a 100% tariff on foreign-made pharmaceuticals unless produced in the U.S. has caused confusion and concern among pharmaceutical companies, leading to declines in share prices for major firms like Novartis and Roche [3][4] - The pharmaceutical sector was previously experiencing a strong performance, but the new tariff threats have created uncertainty regarding future profitability [4] - The proposed tariffs on foreign-made films also negatively impacted Hollywood-linked stocks, with declines of up to 3.3% for companies like Netflix and Warner Bros [5] Truth Social Influence - Trump's Truth Social platform has emerged as a significant market mover, with its stock trading at $17.34 as of October 4, 2025, down from a 52-week high of $54.68 [7] - The platform's posts can influence broader market trends, as seen when futures for major indices declined following posts related to geopolitical events [8] - Analysts have divergent predictions for Truth Social's future, reflecting the volatility and unpredictability associated with Trump's influence on the market [7] Trade War Dynamics - The ongoing trade war with China continues to affect U.S. farmers, particularly soybean producers, who have not sold to China since the trade war began, yet the market remains resilient [9] - Trump has also threatened tariffs on Europe, adding to the uncertainty in international trade relations [10] - The unpredictability of tariff announcements creates a challenging environment for economic forecasting, yet the market continues to find reasons to rise [10][11] Analyst Sentiment - Analysts express a mix of cautious optimism and exhaustion regarding the market's ability to thrive amidst political instability, suggesting a disconnect between political events and investor sentiment [11] - The ongoing AI boom is driving market performance, with companies like Nvidia reaching new all-time highs, indicating a shift towards technological leadership as a primary market driver [11]

This is a story about the essential economy. That's what Ford CEO Jim Farley calls the part of the US market where things get built, moved, or fixed. This week, he held a series of meetings at the restored Michigan Central Rail Station in Detroit, and we traveled there to hear directly from him what needs to be done. -95 million people, huge part of our GDP, that basically build things. Think about factory workers, construction workers. The people who move things, rail workers, truck drivers. And the people ...

Group 1 - Pohang, a South Korean city, is closely associated with steelmaking, similar to Pittsburgh [1] - The local steel industry in Pohang is currently struggling [1] - U.S. levies have significantly impacted the steel industry in Pohang [1]