_{ECONOMIC NEWS}

​Uncertainty Surge: How Tariff Turmoil Is Shaking the U.S. Economy

Soaring uncertainty, largely fueled by President Trump's unpredictable tariff policies—especially with China—is shaking investor confidence and pushing the U.S. economy toward instability. Despite temporary pauses on tariffs, the back-and-forth nature of the announcements has caused markets to fluctuate, with investors retreating from U.S. stocks and even typically safe government bonds.

Economic uncertainty is now at its highest level since the COVID pandemic, according to the Economic Policy Uncertainty (EPU) index. This confusion makes it difficult for both consumers and businesses to make financial decisions, which could delay investments, reduce spending, and set the stage for a recession.

Experts like Fed economist Kevin Kliesen and professor Menzie Chinn note that fear of potential downturns—even in the face of rate cuts or other economic incentives—can outweigh any positives. Market volatility is so high that even false headlines temporarily swing stock performance. Major financial leaders, including Jamie Dimon and Larry Fink, warn that the lack of clarity is pushing the U.S. economy closer to a recession, despite its underlying strength. Read More.

_{FINANCIAL NEWS}

Trump Proposes Replacing Income Tax with Tariff Revenue

In a Fox News interview with Rachel Campos-Duffy, President Donald Trump said there's a "real chance" that tariffs could replace the income tax in the U.S., referencing the pre-1913 era when tariffs were the government's main revenue source. He claimed the U.S. was at its wealthiest during that time and criticized the introduction of the income tax system in 1913.

Trump also stated that tariffs have brought in "billions and billions" of dollars, estimating $2–3 billion a day at their peak. He paused some tariffs recently but emphasized it's part of a transitional, flexible approach.

Additionally, Trump expressed openness to sending violent American criminals to prisons in El Salvador, praising President Nayib Bukele's prison system and its effectiveness in reducing crime.

The interview comes amid volatile trade policies, with Trump recently pausing reciprocal tariffs while simultaneously raising tariffs on China to 125%, further fueling market uncertainty and fears of a recession. Read More.