Weekly Econ Articles
A round up this week's top econ-related news
Most companies are already raising prices or plan to because of tariffs, data shows | CNBC
77% of companies affected by tariff cost increases have already started raising prices. Over 30% of those companies raised prices the same week the tariffs took effect.
The Trump administration just doubled the tariffs on steel and aluminum imports. Here’s what that means | CNN Business
Steel and aluminum tariffs have doubled to 50% for everyone except the UK. That’s bad news for US consumers looking to buy cars, canned goods, or other products containing steel and aluminum. It’s also bad news for companies that use steel and aluminum as an input. Studies on the 2018 increase in steel and aluminum tariffs estimate that for every 1 job saved by the tariff, 75 related manufacturing jobs were lost due to increased input costs.
Price Discrimination: US airlines charged passengers more to fly alone | Morning Brew
Volume discounts are available at an airline counter (or website) near you.
Monopoly: Google's antitrust case could hinge on the definition of AI | Quartz
Markets move faster than court systems. Judge Mehta asked if AI should be considered as part of the search market, which would vastly lower Google’s calculated market share. Have you been using ChatGPT as a substitute for google searching as much as I have?
Supply, Demand, and Equilibrium: Summer rentals in the Hamptons are down 30% | AOL
Economic uncertainty has hit luxury vacation demand for the Hamptons. Rental demand is down 30% from last year.
Money and Banking: Trump spurs questions about safety of Germany's gold in New York | Reuters
Although the US hasn’t been on a gold standard in decades, the Federal Reserve Bank of New York still manages gold stock for other entities, including for Germany. Now there’s political pressure to bring gold back to Germany that’s been in New York since the Cold War.
Intro to Econ: How State Income Tax Could Alter The Landscape For NHL Free Agency | Puck Prose
NHL salary caps apply to nominal, not take-home income. That gives states without an income tax an edge in negotiations, as the effective salary for players is higher than the same nominal amount elsewhere. Just ask the Canadian teams.